Company: RILYN
Filing Date: 2025-11-19
Form Type: 8-K
Source: 0001213900-25-112543
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Company: B. Riley Financial, Inc.
Filing Date: 2025-11-19
Form: 8-K
Item: Item 3.01
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.

On November 18, 2025, B. Riley Financial, Inc. (the “ Company”)
received written notification (the “ Decision Letter”) from the Nasdaq Hearings Panel (the “ Panel”) notifying the
Company of its decision to grant the Company’s request to continue its listing on The Nasdaq Stock Market (“ Nasdaq” or the
“ Exchange”), subject to the Company’s meeting certain conditions outlined in the letter.

The Company participated in a hearing with the Panel on November 4,
2025 in connection with the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “ Filing Rule”), as previously
notified by the Nasdaq Listing Qualifications Staff (the “ Staff”) on April 3, 2025, May 21, 2025 and August 20, 2025. The
basis for the Staff Determination Letter was that the Company had not yet filed its Quarterly Reports on Form 10-Q for the periods ended
March 31, 2025 and June 30, 2025 with the Securities and Exchange Commission (the “ SEC”).

In the Decision Letter, the Hearings Advisor noted that the Panel reviewed
the information presented by the Company, detailing the compliance plan proposed by the Company, as well as all other correspondence previously
submitted by the Company and the Staff.

Panel Decision

Based on the information presented, the Panel determined to grant the
Company an exception to cure its filing delinquencies. In the Decision Letter, the Panel noted the challenges the Company has faced in
its financial reporting function and that the Company has retained appropriate external consultants, service providers and a new CFO in
an effort to cure the current delinquency and aid in financial reporting moving forward. The Panel granted the Company’s request
for continued listing on Nasdaq, subject to the following terms:

1. On or before November 21, 2025, the Company shall file the Form
10-Q for the period ended March 31, 2025;

2. On or before December 23, 2025, the Company shall file the
Form 10-Q for the period ended June 30, 2025; and

3. On or before January 20, 2026, the Company shall file the Form 10-Q
for the period ended September 30,