Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 83

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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 the restructured debt includes variable interest rates from Term SOFR. The borrowings under the BRPAC Amended Credit Agreement bear interest equal to the Term SOFR rate plus a margin of 2.75% to 3.50% per annum, depending on the BRPAC Borrowers consolidated total funded debt ratio as defined in the BRPAC Amended Credit Agreement. The interest rate is subject to a margin level of 3.25%. As of the Closing Date, the outstanding principal amount was $80,000 with quarterly installments of principal due in the amount of $4,000, and any remaining principal balance is due at final maturity on January 6, 2030.Interest expense on the term loan during the three months ended June 30, 2025 and 2024 was $1,561 and $914, respectively, and during the six months ended June 30, 2025 and 2024 was $3,151 and $1,974 , respectively. The BRPAC Amended Credit Agreement contains certain covenants, including those limiting the Credit Parties’, and their subsidiaries’, ability to incur indebtedness, incur liens, sell 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,