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B. Riley Financial, 7.375% Senior Notes Due 5/31/2023
Ticker Symbol: RILYH* CUSIP: 05580M504 Exchange: NGM
* NOTE: This security is no longer trading as of 9/04/2021
Security has been Called for: Saturday, September 4, 2021
Aug. 5, 2021 -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced it will redeem all of the issued and outstanding 7.375% Senior Notes due 2023 (the "Notes") on September 4, 2021 (the "Redemption Date"). The Notes have an aggregate principal amount of $137,453,925.
The redemption price is equal to 100% of the aggregate principal amount, plus a premium of $0.375 in accordance with the supplemental indenture, plus any accrued and unpaid interest up to, but excluding, the Redemption Date, as set forth in each notice of redemption delivered to noteholders (the "Redemption Payment"). In accordance with the indenture, the Redemption Payment will be paid to holders on the next succeeding business day following the Redemption Date, which will be September 7, 2021.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: B. Riley Financial, 7.375% Senior Notes Due 2023, issued in $25 denominations, redeemable, (i) at the issuer's option on or after 5/31/2020 and prior to 5/31/2021 at a price equal to $25.75 per note, plus accrued and unpaid interest (ii) on or after 5/31/2021 and prior to 5/31/2022, at a price equal to $25.375 per note, plus accrued and unpaid interest and (iii) on or after 5/31/2022 and prior to maturity, at a price equal to 100% of their principal amount, plus accrued and unpaid interest. Interest distributions of 7.375% per annum ($1.84375 per annum or $0.4609375 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date that will be 1/15, 4/15, 7/15 & 10/15 respectively (NOTE: the ex-dividend date is at least one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (RILY)
IPO - 5/14/2018 - 3.48 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $87.7 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 11100 Santa Monica Blvd., Suite 800, Los Angeles, CA 91367 |
| Main Phone Number |
310-966-1444 |
| Fax Number |
818-884-2976 |
| Investor Relations
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310-966-1444
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Toll Free Phone Number |
Unknown |
| CEO - Bryant R. Riley |
CEO - Tom Kelleher |
CFO - Phillip J. Ahn |
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