Company: RILYN
Filing Date: 2025-03-04
Form Type: 8-K
Source: 0001213900-25-020254
Chunk: 1

Company: B. Riley Financial, Inc.
Filing Date: 2025-03-04
Form: 8-K
Item: Item 1.01
Chunk 1
---
 of December 9, 2024, as further amended by Amendment No. 6, dated as of January 3, 2025 and as further amended, restated, amended and
restated, supplemented or otherwise modified prior to the date hereof), by and among the Company, the Borrower, the lenders party thereto,
Nomura Corporate Funding Americas, LLC, as administrative agent and Computershare Trust Company, N. A., as collateral agent, (ii) for working
capital and general corporate purposes and (iii) to pay transaction fees and expenses.

The proceeds of the Delayed Draw Facility was used (i) to fund obligations
relating to the liquidation of substantially all of the assets of JOANN, Inc. and its subsidiaries and (ii) for working capital and general
corporate purposes.

Guarantees

All obligations under the Credit Facilities are unconditionally guaranteed
jointly and severally by (i) the Company, and (ii) all direct and indirect wholly-owned subsidiaries of the Borrower, subject
to certain excluded subsidiaries (collectively, the “ Guarantors”).

Security

The Credit Facilities are secured on a first priority basis by: (i) a
security interest in the equity interests of the Borrower and each of the Borrower’s subsidiaries (subject to certain exclusions);
and (ii) a security interest in substantially all of the assets of the Borrower and the Guarantors.

Interest Rate and Fees

SOFR Loans (as defined in the Credit Agreement) will accrue interest
at the Adjusted Term SOFR Rate (as defined in the Credit Agreement) determined for such day plus an applicable margin of 8.00%. Base Rate
Loans (as defined in the Credit Agreement) will accrue interest at the Base Rate (as defined in the Credit Agreement) plus an applicable
margin of 7.00%.

In addition to paying interest on outstanding
borrowings under the Credit Facilities, the Borrower is required to pay (i) a closing fee of 3.00% of the aggregate principal amount
of the loans under the Initial Term Loan Facility and 2.00% of the aggregate principal amount of the loans under the Delayed Draw Facility,
and (ii) an exit fee upon the prepayment or repayment of the Credit Facilities of 5.00% of the aggregate principal amount of such loans
repaid, provided, that the Initial Term Loan Facility exit fee shall not be payable if the share price