Company: RILYN
Filing Date: 2025-08-26
Form Type: 8-K
Source: 0001213900-25-080805
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Company: B. Riley Financial, Inc.
Filing Date: 2025-08-26
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement

On August 20, 2025, Tiger US Holdings, Inc. (the
“ Borrower”), a wholly owned subsidiary of B. Riley Financial, Inc. (the “ Company”), and certain of the Borrowers’
direct and indirect subsidiaries (the “ FGI Loan Parties”) entered into a Revolving Credit, Receivables Purchase, Security
and Guaranty Agreement (the “ FGI Credit Agreement”) with FGI Worldwide LLC (“ FGI”), as agent, for a three-year
$30 million revolving loan facility, the proceeds of which were used to refinance and repay all obligations under an existing credit agreement
between the Borrower and PNC Bank, National Association. The final maturity date of the FGI Credit Agreement is August 20, 2028.

The FGI Credit Agreement is a revolving line of
credit facility with a receivables purchase feature under which the purchase of eligible receivables is on a full recourse basis with
each borrower retaining the risk of non-payment. The revolving loans bear interest at the greater of (a) 5.25% per annum or (b) 3.00%
above the term SOFR for a period of 1 month plus 10 basis points. In addition, the Borrower is required to pay a monthly collateral
management fee.

The FGI Credit Agreement is secured by (i) a first
priority perfected security interest in and a lien upon all of the assets of the FGI Loan Parties, and (ii) a pledge of all of the equity
interests of the Borrower and its direct and indirect subsidiaries. The FGI Credit Agreement contains certain covenants, including those
limiting the FGI Loan Parties’ ability to incur indebtedness, incur liens, sell or acquire assets or businesses, change the nature
of their businesses, engage in transactions with related parties, make certain investments or pay dividends. The FGI Credit Agreement
also contains customary representations and warranties, affirmative covenants, and events of default, including payment defaults, breach
of representations and warranties, covenant defaults and cross defaults. If an uncured event of default occurs, FGI would be entitled
to take various actions, including the acceleration of amounts outstanding under the FGI Credit Agreement.

As required under the FGI Credit Agreement, B.
Riley Commercial Capital, LLC, a wholly owned subsidiary of the Company, entered into an amendment to an existing intercompany loan