Company: RILYN
Filing Date: 2025-03-18
Form Type: NT 10-K
Source: 0001013762-25-000631
Chunk: 3

Company: B. Riley Financial, Inc.
Filing Date: 2025-03-18
Form: NT 10-K
Chunk 3
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December 31, 2024, a decrease of $580 million from $2.36 billion at December 31, 2023. The decrease includes approximately a $358 million
reduction in the outstanding balance on the Nomura credit facility and $140 million from retiring the senior notes due May 31, 2024 during
the year ended December 31, 2024.

Net loss available to common shareholders for the
year ended December 31, 2024 is expected to be in the range of ($705) million to ($725) million, or ($23.25) to ($23.91) net
income per diluted common share, which is greater than the net loss available to common shareholders for the prior year ended December
31, 2023 of $(108) million or $(3.69) per diluted common share. Net loss for the year ended December 31, 2024 includes approximately $112
million to $123 million of income from discontinued operations primarily related to the divesture of a majority interest
in the Great American businesses and the deconsolidation of the brands operations and equity investments. Net loss from continuing operations
for the year ended December 31, 2024 is expected to be in the range of ($823) million to ($832) million, which primarily
includes non-cash items including a decrease of approximately $510 million related to the valuation of our investment in Freedom VCM,
the indirect parent entity for Franchise Group (“FRG”), and the loan to VCM mentioned above, and estimated impairment charges
of goodwill and intangible assets of approximately $100 million to $106 million.

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B. Riley Financial, Inc.

(Name of Registrant as Specified in Charter)</div>

has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.

| Date: March 18, 2025 | By: | /s/                         
 Phillip J. Ahn              |
|:---------------------|:----|:----------------------------|
|                      |     | Phillip J. Ahn              |
|                      |     | Chief Operating Officer     
 and Chief Financial Officer |

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