Company: RILYN
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0001213900-25-027230
Chunk: 1

Company: B. Riley Financial, Inc.
Filing Date: 2025-04-01
Form: 8-K
Item: Item 1.01
Chunk 1
---
 if any, to, but excluding, the redemption date; and (ii) at any time, in
whole or in part, after March 26, 2026, at a redemption price equal to 100% of the aggregate principal amount being redeemed, plusaccrued and unpaid interest, if any, to, but excluding, the redemption date.

Additionally, if a change of control occurs, holders of the New Notes
will have the right to require the Company to repurchase all or a portion of their Notes at a purchase price, in cash, equal to 101% of
the principal amount thereof, plusaccrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, if
the Company or its restricted subsidiaries engage in certain asset sales and do not invest such proceeds or permanently reduce certain
debt within a specified period of time, the Company will be required to use a portion of the proceeds of such asset sales above a specified
threshold to make an offer to purchase the New Notes at a price equal to 100% of the principal amount of the New Notes being purchased,
plus accrued and unpaid interest thereon, if any, to, but excluding, the purchase date.

The Indenture contains certain affirmative and negative covenants that,
among other things, limit the Company’s and its subsidiaries’ ability to incur additional indebtedness or liens, to dispose
of assets, to make certain fundamental changes, to enter into restrictive agreements, to make certain investments, loans, advances, guarantees
and acquisitions, to prepay certain indebtedness and to pay dividends or to make other distributions or redemptions/repurchases in respect
of their respective equity interests.

The Indenture contains events of default, including with respect to
a failure to make payments under the New Notes, cross-default, certain bankruptcy and insolvency events and customary change of control
events.

The foregoing description of the Indenture does not purport to be complete
and is qualified in its entirety by reference to the full text of the Indenture and Form of 8.00% Senior Secured Note due 2028, which
are attached as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

Warrants

In connection with the exchange transaction, the Company issued to
the Investor warrants (the “ Warrants”) to purchase 351,012 shares of the Company’s common stock