24/7 Market News Snapshot 27 February, 2025 – B. RILEY FINANCIAL, INC. (NASDAQ:RILY)

February 27, 2025

DENVER, Colo., 27 February, 2025 (247marketnews.com) – (NASDAQ:RILY) are discussed in this article.
B. Riley Financial, Inc. (NASDAQ:RILY) is experiencing significant activity in the financial markets today, with shares opening at $6.95 and currently trading around $6.664, indicating a notable decline of approximately 18.16% from the previous close. This downturn has garnered strong investor interest as evidenced by the elevated trading volume of 16.24 million shares, hinting at volatility and possible profit-taking following recent gains. Analysts suggest possible support around $6.50, while resistance levels appear near $7.00, underlining the importance for traders to remain vigilant in assessing market sentiments.

In a strategic maneuver, B. Riley has announced a new $160 million senior secured debt facility arranged by Oaktree Capital Management, L.P., bolstering the firm’s financial foundation. The arrangement allows B. Riley to retire its previous Nomura Senior Secured Credit Agreement, utilizing approximately $118 million of the new financing for this purpose. The remaining funds are designated for working capital and a collaborative effort involving the liquidation of JOANN, a well-known fabric and crafts retailer, which includes managing nearly $2 billion in inventory.

Bryant Riley, Chairman and Co-CEO, emphasized the flexibility provided by this credit agreement and the positive impact of their partnership with Oaktree on large-scale asset dispositions. The new Term Loan Facility features an appealing interest rate tied to the three-month secured overnight financing rate plus 8.00%. Furthermore, B. Riley has issued warrants to Oaktree to purchase approximately 1.8 million common shares, aligning with prevailing market trends.

As B. Riley prepares to disclose its preliminary full-year 2024 results on March 3, it plans to hold a conference call for investors and analysts, aiming to discuss recent developments and future strategies. This financing initiative further reinforces B. Riley’s commitment to offering tailored financial solutions that support both business growth and stakeholder interests.

Related news for (RILY)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.