Company: RILYN
Filing Date: 2025-11-12
Form Type: NT 10-Q
Source: 0001213900-25-109341
Chunk: 0

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-12
Form: NT 10-Q
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING</div>

Commission File Number: 001-37503

CUSIP: 05580M 108

| (Check One): | ☐ Form 10-K | ☐ Form 20-F  | ☐ Form 11-K  | ☒ Form 10-Q |
|              | ☐ Form 10-D | ☐ Form N-CEN | ☐ Form N-CSR |             |

For Period Ended: September 30, 2025

| ☐ | Transition Report on Form 10-K | ☐ | Transition Report on Form 20-F |
| ☐ | Transition Report on Form 11-K | ☐ | Transition Report on Form 10-Q |

For the Transition Period Ended:

If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:

<div align='center'>PART I – REGISTRANT INFORMATION

B. Riley Financial, Inc.

Full Name of Registrant

Former Name if Applicable

11100 Santa Monica Blvd., Suite 800

Address of Principal Executive Office (Street and
Number)

Los Angeles, CA 90025

City, State and Zip Code

PART II – RULES 12b-25 (b) and (c)</div>

If the subject report could not be filed without
unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box
if appropriate)

|   | -a | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;                                                                                                                                                                                                                                                                                                                                       |
| ☐ | -b | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and; |
|   | -c | The accountant’s statement or other exhibit required by Rule 12b-25