B. Riley Financial Extends Credit Agreement with Amendment No. 5

B. Riley Financial Inc. (NASDAQ: RILY) revealed in an 8-K filing on December 9, 2024, that the Company and its subsidiary, BR Financial Holdings, LLC, entered into Amendment No. 5 to the existing credit agreement. The initial credit agreement was dated August 21, 2023, providing for a $500 million secured term loan credit facility and a $100 million secured revolving loan credit facility.

The Fifth Amendment, as it is referred to, outlines key modifications agreed upon by the Company, the Borrower, lenders, and the Administrative Agent. The notable changes include an extension of the springing maturity date of the term loans, applicable if more than $25,000,000 aggregate principal amount of the March 2026 bonds are outstanding, to February 3, 2026. Additionally, under specific conditions, an additional $10,000,000 of telecommunications financing has been permitted. Importantly, there were no associated fees charged in connection with this amendment.

The specifics of the Fifth Amendment can be found in the complete text of the Fifth Amendment document, as the description provided in the 8-K filing is not exhaustive.

This update falls under Item 1.01 of the 8-K filing, regarding the entry into material definitive agreement, and is further associated with Item 2.03, related to the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of the registrant.

B. Riley Financial, Inc., headquartered in Los Angeles, California, has its securities listed on Nasdaq Global Market under various classes – Common Stock, Depositary Shares, and Senior Notes due in various years.

The company has been consistent in its dividend payments and has displayed a commitment to enhancing shareholder value. For further detailed financial performance, the firm is slated to issue its quarterly press release post the U.S. stock market’s closure on March 11, 2025. Additionally, an earnings discussion is scheduled for March 12, 2025, to be broadcasted via live webcast.

Investors interested in more information can refer to the company’s website or communication channels as mentioned in the filing.

The outlined amendments in the credit agreement exhibit B. Riley Financial’s strategic approach to refining its financial instruments and ensuring operational flexibility for the future.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read B. Riley Financial’s 8K filing here.

B. Riley Financial Company Profile

B. Riley Financial, Inc, through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe. The company operates through six segments: Capital Markets, Wealth Management, Financial Consulting, Auction and Liquidation, Communications, and Consumer.