By Denny Jacob
B. Riley Financial shares rose 27% in premarket trading Thursday after securing new debt financing from funds managed by Oaktree Capital Management.
Shares were trading around $7.17. The stock is down about 69% over the last year.
The financial services company said it entered into a new $160 million senior secured debt facility. It noted that about $118 million was used to retire outstanding debt under a separate credit agreement and the rest for working capital, including up to $35 million related to the liquidation of fabric and crafts retailer Joann.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 27, 2025 09:13 ET (14:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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