Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 187

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 187
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 operational performance of Freedom VCM Holdings, LLC’s various business segments.

Subsequent to June 30, 2024, Freedom VCM filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on November 3, 2024 which impacts the future fair value of the investment in Freedom VCM. The fair value of the investment in Freedom VCM was reduced to zero at September 30, 2024 and a fair value adjustment of approximately $(63.7) million was recorded in the quarter ended September 30, 2024.

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Realized and Unrealized Gains (Losses)Three Months EndedJune 30,Six Months EndedJune 30,2024202320242023Other income (Expense) - Realized & Unrealized Gains (Losses)Public Equity Securities:Babcock & Wilcox Enterprises, Inc. - common stock$3,799 $(560)$(1,075)$3,864 Babcock & Wilcox Enterprises, Inc. - preferred stock(429)(336)(153)2,769 Alta Equipment Group, Inc. - common stock— 7,370 (3,537)20,616 Double Down Interactive Co., Ltd - common stock7,691 6,044 21,839 4,258 Synchronoss Technologies, Inc. - common stock974 — 3,495 — The Arena Group, Inc. - common stock— 1,866 — (20,729)Other public equities(2,832)4,599 (2,532)7,064 Subtotal9,203 18,983 18,037 17,842 Private Equity Securities:Freedom VCM Holdings, LLC(139,355)— (172,009)— Consumer Brand Investments(449)(506)4,930 (9,866)Other private equities(24,661)(690)(39,202)(6,010)Subtotal(164,465)(1,196)(206,281)(15,876)Other Securities:Corporate bonds920 739 1,387 348 Partnership interest and other(1,348)317 1,622 (11,913)Total$(155,690)$18,843 $(185,235)$(9,599)

During the three and six months ended June 30, 2024, realized and unrealized losses of $(155.7)