BUZZ-B. Riley shares jump on private bond exchange to cut debt

Reuters

Mar 26, 2025

BUZZ-B. Riley shares jump on private bond exchange to cut debt

** Shares of B. Riley Financial jump 9% to $4.42, set for best day in one month

** Co announces private bond exchange with an institutional investor to reduce debt by around $35 million

** Investor to exchange about $123 million in outstanding senior notes for $88 million in newly issued 8.00% notes

** Co also issuing investor warrants to purchase 351,000 common shares at $10/share

** RILY estimated total debt to be $1.78 billion for the year ended December 31, 2024, as per co's non-timely 10-K filing in March

** Co estimated net FY 2024 loss of $23.25 to $23.91 per diluted common share - filing

** RILY shares fell sharply last August over losses from its investment in Vitamin Shoppe-parent Franchise Group

** In February, co received $160 million debt facility from Oaktree Capital, used to help pay off debt to Nomura

** Stock has lost about 3.9% year-to-date

(Reporting by Lisa Pauline Mattackal)

((LisaPauline.Mattackal@thomsonreuters.com;))

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Riley shares jump on private bond exchange to cut debt\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-03-26 23:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-B. Riley shares jump on private bond exchange to cut debt </title></head><body><p>** Shares of B. 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Riley Financial jump 9% to $4.42, set for best day in one month ** Co announces private bond exchange with an institutional investor to reduce debt by around $35 million ** Investor to exchange about $123 million in outstanding senior notes for $88 million in newly issued 8.00% notes ** Co also issuing investor warrants to purchase 351,000 common shares at $10/share      ** RILY estimated total debt to be $1.78 billion for the year ended December 31, 2024, as per co's non-timely 10-K filing in March ** Co estimated net FY 2024 loss of $23.25 to $23.91 per diluted common share - filing ** RILY shares fell sharply last August over losses from its investment in Vitamin Shoppe-parent Franchise Group** In February, co received $160 million debt facility from Oaktree Capital, used to help pay off debt to Nomura ** Stock has lost about 3.9% year-to-date  (Reporting by Lisa Pauline Mattackal) ((LisaPauline.Mattackal@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}