B. Riley Financial (RILY) said Tuesday it would be fully redeeming its 6.375% senior notes due Feb. 28.
The company said it would return the principal plus any accrued and unpaid interest on the notes to lenders. After the redemption, the notes will cease to trade on Nasdaq, the company said.
The firm also said it would temporarily suspend cash dividends on its 6.875% series A cumulative perpetual preferred stock and its 7.375% series B cumulative perpetual preferred stock. Unpaid dividends on the series A and series B preferred stock will accrue until paid in full, the company said.
B. Riley added it had a preliminary cash balance of $257 million as of Dec. 31, 2024, inclusive of the amount reserved for the redemption of the senior notes.
RILY shares were down 2.4% in recent trading.
Price: 4.88, Change: -0.12, Percent Change: -2.40
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