Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 354

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 8
Chunk 354
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 or acquire assets or businesses, change the nature of their businesses, engage in transactions with related parties, make certain investments or pay dividends. In addition, the BRPAC Amended Credit Agreement requires the Credit Parties to maintain certain financial ratios. The BRPAC Amended 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 event of default occurs, the agent would be entitled to take various actions, including the acceleration of outstanding amounts due under the BRPAC Amended Credit Agreement. The Company is in compliance with all financial covenants in the BRPAC Amended Credit Agreement as of June 30, 2025.

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NOTE 12 — SENIOR NOTES PAYABLE 

Senior notes payable, net, are comprised of the following:June 30,2025December 31,2024Senior Notes Payable:6.375% Senior notes due February 28, 2025$— $145,211 5.50% Senior notes due March 31, 2026101,378 216,662 6.50% Senior notes due September 30, 2026180,484 180,464 5.00% Senior notes due December 31, 2026197,012 322,667 8.00% New Notes due January 1, 2028247,468 — 6.00% Senior notes due January 31, 2028218,445 264,345 5.25% Senior notes due August 31, 2028378,985 401,307 Subtotal1,323,772 1,530,656 Less: Unamortized debt issuance costs(45)(95)Total Senior Note Payable$1,323,727 $1,530,561 As of June 30, 2025 and December 31, 2024, total senior notes outstanding were $1,323,727 (net of unamortized debt issue costs of $45) and $1,530,561 (net of unamortized debt issue costs of $95), respectively, with a weighted average interest rate of 5.59% and 5.62%, respectively. Interest on senior notes is payable on a quarterly basis. Interest expense on senior notes during the three and six months ended June 30, 2025 and 202