Company: RILYN
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001464790-25-000023
Chunk: 280

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 280
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March 31, 2025December 31, 2024Interest RatePrincipalInterest RatePrincipalTerm Loans:Lingo Term Loan— $— 7.91 %$52,925 Nomura Term Loan— — 11.52 %122,538 BRPAC Term Loan7.69 %76,000 7.42 %30,106 Oaktree Term Loan12.32 %129,479 — — Subtotal205,479 205,569 Less: Unamortized debt issuance costs and discount(21,391)(6,140)Total Term Loans$184,088 $199,429 Weighted AverageInterest RatePrincipalMarch 31, 2025March 31, 2025December 31, 2024Revolver Loan:Targus Revolver Loan9.97 %$13,800 $16,329 Oaktree Credit AgreementOn February 26, 2025, the Company and BRFH (“BRFH Borrower”) entered into a new credit agreement with a group of funds indirectly or directly controlled by Oaktree Capital Management, L.P. with Oaktree Fund Administration, LLC, acting as the administrative agent and collateral agent. The new credit agreement provided for (i) a three-year $125,000 secured term loan credit facility (the “Oaktree Term Loan”) and (ii) a four-month $35,000 secured delayed draw term loan credit facility (the “Delayed Draw Facility” and, together with the Oaktree Term Loan, the “Credit Facility”). The Oaktree Term Loan matures on the earliest of (i) February 26, 2028, and (ii) a springing maturity date 91 days prior to the maturity of any series of bonds, notes or bank indebtedness of the Company or the BRFH Borrower (other than the Company’s 6.375% Senior Notes due February 28, 2025 and the Company’s 5.50% Senior Notes due March 31, 2026) outstanding on such date with an aggregate amount exceeding $10,000 (the "Initial Term Loan Maturity Date"). The proceeds from the Oaktree Term Loan were primarily used (a) to repay the existing indebtedness under the Nomura Credit agreement (b) for working capital and general corporate purposes and (c) to pay transaction fees and expenses. The proceeds of the Delayed Draw Facility was used (a) to fund obligations