LOS
ANGELES, Aug. 23, 2024 /PRNewswire/ -- B. Riley
Financial, Inc. (Nasdaq: RILY) (the "Company") announced it
received an expected delinquency notification letter from Nasdaq on
August 21, 2024, which indicated that
the Company was not in compliance with Nasdaq Listing Rule
5250(c)(1) as a result of the delayed filing of the Company's
Quarterly Report on Form 10-Q for the period ended June 30, 2024.
The Nasdaq Listing Rule requires listed companies to timely file
all required periodic financial reports with the Securities and
Exchange Commission (the "SEC"). This notification has no immediate
effect on the listing of the Company's securities on Nasdaq.
Nasdaq has informed the Company that it must submit a plan
within 60 calendar days to address how it intends to regain
compliance with Nasdaq's listing rules. If accepted, Nasdaq can
grant an exception of up to 180 calendar days from the filing's due
date, or until February 10, 2025, to regain
compliance.
B. Riley announced preliminary financial results for the
three-month period ending June 30,
2024 on August 12. The Company
is working diligently to file the Quarterly Report as promptly as
practical.
About B. Riley Financial
B. Riley Financial is a
diversified financial services platform that delivers tailored
solutions to meet the strategic, operational, and capital needs of
its clients and partners. B. Riley leverages cross-platform
expertise to provide clients with full service, collaborative
solutions at every stage of the business life cycle. Through its
affiliated subsidiaries, B. Riley provides end-to-end financial
services across investment banking, institutional brokerage,
private wealth and investment management, financial consulting,
corporate restructuring, operations management, risk and
compliance, due diligence, forensic accounting, litigation support,
appraisal and valuation, auction, and liquidation services. B.
Riley opportunistically invests to benefit its shareholders, and
certain affiliates originate and underwrite senior secured loans
for asset-rich companies. B. Riley refers to B. Riley Financial,
Inc. and/or one or more of its subsidiaries or affiliates. For more
information, please visit www.brileyfin.com.
Forward-Looking Statements
Statements made in this
press release that are not descriptions of historical facts are
forward-looking statements that are based on management's current
expectations and assumptions and are subject to risks and
uncertainties. If such risks or uncertainties materialize or such
assumptions prove incorrect, our business, operating results,
financial condition, and stock price could be materially negatively
affected. You should not place undue reliance on such
forward-looking statements, which are based on the information
currently available to us and speak only as of today's date. All
statements other than statements of historical fact are
forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the Company's performance or achievements to be
materially different from any expected future results, performance,
or achievements. Forward-looking statements speak only as of the
date they are made and the Company assumes no duty to update
forward-looking statements, except as required by law. Actual
future results, performance or achievements may differ materially
from historical results or those anticipated depending on a variety
of factors, some of which are beyond the control of the Company,
including, but not limited to, the risks described from time to
time in the Company's periodic filings with the SEC, including,
without limitation, the risks described in the Company's 2023
Annual Report on Form 10-K and in B. Riley Financial's Quarterly
Reports on Form 10-Q for the period ended March 31, 2024 under
the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" (as
applicable). These factors should be considered carefully, and
readers are cautioned not to place undue reliance on such
forward-looking statements. All information is current as of the
date this press release is issued, and the Company undertakes no
duty to update this information.
Contacts
Investors
ir@brileyfin.com
Media
press@briley.com
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SOURCE B. Riley Financial