Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 14

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 and our CUSIP (05580M 108) will not change.Liquidity For the six months ended June 30, 2025, the Company generated net income of $129,496. During the six months ended June 30, 2025 the Company completed the sale of the Company’s majority owned subsidiary Atlantic Coast Recycling, LLC on March 3, 2025 for proceeds of approximately $68,638, as more fully described above. The Company also completed (a) the sale of the Wealth Management Transaction for $26,037 on April 4, 2025, as more fully described in Note 4 - Discontinued Operations and Assets Held for Sale, and (b) the Company’s financial consulting business on June 27, 2025 for $117,800 as more fully described above. As discussed in more detail in Note 12 - Senior Notes Payable, for the six months ended June 30, 2025, the Company completed four private exchange transactions with institutional investors pursuant to which aggregate principal amounts of approximately $115,844 of the 5.50% Senior Notes due March 2026, $126,766 of the 5.00% Senior Notes due December 2026, $46,429 of the 6.00% Senior Notes due January 2028, and $23,096 of the 5.25% Senior Notes due August 2028 (collectively, the “Exchanged Notes”) owned by the investors were exchanged for approximately $203,812 aggregate principal amount of 8.00% Senior Secured Second Lien Notes due 2028 (the “New Notes”), whereupon the Exchanged Notes were cancelled. On July 11, 2025, the Company completed private exchange transactions with institutional investors pursuant to which aggregate principal amounts of Exchanged Notes of approximately $2,061 of the 6.50% Senior Notes Payable due September 30, 2026, $19,682 of the 5.00% Senior Notes due December 2026, $4,706 of the 6.00% Senior Notes due January 2028, and $16,389 of the 5.25% Senior Notes due August 2028 owned by the investors were exchanged for approximately $24,611 aggregate principal amount of newly-issued New Notes, whereupon the Exchanged Notes were cancelled.After the completion of the Exchanged Notes described above, the Company has approximately $101,596 of 5.