Company: RILYN
Filing Date: 2025-04-04
Form Type: 8-K
Source: 0001213900-25-029055
Chunk: 2

Company: B. Riley Financial, Inc.
Filing Date: 2025-04-04
Form: 8-K
Item: Item 8.01
Chunk 2
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Item 8.01 Other Events.

On October 31, 2024, the Company signed a definitive
agreement to sell a portion of the Company’s traditional (W-2) Wealth Management business to Stifel Financial Corp. (“ Stifel”)
for net consideration estimated at such time of $27.0 million to $35.0 million in cash, with the final consideration to be based on the
number of advisors that joined Stifel at closing, among other things. On April 4, 2025, B. Riley completed the sale for net consideration
of $26.0 million in cash, representing 36 financial advisors whose managed accounts represented approximately $4.0 billion in assets under
management (AUM) as of March 31, 2025. Following the transaction, the Company’s Wealth Management business continues to have
approximately 240 financial advisors whose associated customer accounts represent total AUM of approximately $15 billion as
of March 31, 2025.

Item 9.01 Financial Statements and Exhibits.