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B. Riley Financial to Cut Debt by $15 Million Via Bond Exchange Deal

BY MT Newswires | CORPORATE | 07/01/25 07:39 AM EDT

07:39 AM EDT, 07/01/2025 (MT Newswires) -- B. Riley Financial (RILY) said Tuesday it entered into an exchange agreement with an institutional investor that will reduce its outstanding debt by about $15 million.

The investor agreed to exchange roughly $28 million in outstanding senior notes for $13 million in newly issued 8% senior secured second lien notes due Jan. 1, 2028, the company said.

B. Riley also issued warrants to purchase 52,000 common shares at $10 per share. The warrants will be exercisable for seven years from the date of issuance, the company added.

This transaction marks B. Riley's fourth bond exchange in three months, reducing total debt by approximately $108 million, the company said.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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