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B. Riley Financial's Update on Compliance and Filing

B. Riley Financial, Inc. (NASDAQ: RILY), a financial services firm, has announced a significant update regarding its filing process with Nasdaq. As of November 20, 2024, the company received another delinquency notice indicating it was noncompliant with Nasdaq Listing Rule 5250(c)(1). This breach stems from the delayed filing of the Quarterly Reports on Form 10-Q for the quarters ending June 30 and September 30, 2024.

The Listing Rule mandates that companies listed on Nasdaq must submit their periodic financial reports promptly to the Securities and Exchange Commission (SEC). Although this notification does not immediately jeopardize the listing of B. Riley's securities on the Nasdaq exchange, it asserts the importance of maintaining compliance.

To remedy this situation, B. Riley is required to present an updated compliance plan by December 5, 2024. Successful acceptance of this plan could offer the company a reprieve of up to 180 calendar days from the deadline of their initial delinquent filings, allowing B. Riley until February 17, 2025, to achieve compliance.

The company has acknowledged the setbacks experienced in its quarterly reporting process, which have arisen from a series of substantial events and transactions throughout 2024. Leadership at B. Riley is committed to expediently addressing these outstanding filings and aims to restore a regular filing schedule beginning in 2025.

About B. Riley Financial

B. Riley Financial specializes in delivering diversified financial services, providing tailored solutions to fulfill the operational and capital needs of its clients. The company utilizes a cross-platform methodology to deliver comprehensive services across various areas, including investment banking, institutional brokerage, and financial consulting.
B. Riley's affiliated subsidiaries enable the company to offer a full spectrum of financial services, enabling clients to navigate complex financial landscapes effectively. Their strategic operations include corporate restructuring, risk management, and investment management, among other essential offerings. Notably, B. Riley also emphasizes its proactive investments to benefit shareholder interests while managing and underwriting senior secured loans for companies rich in assets.

For any stakeholders or potential investors, understanding the implications of the filing update and compliance notification is crucial. All statements made in the accompanying press release beyond historical facts are reflective of forward-looking perspectives. These statements are contingent on current expectations and are subject to a variety of risks and uncertainties that might affect B. Riley’s operational outcomes, financial health, and stock valuation.

In conclusion, B. Riley Financial is taking pivotal steps to resolve the challenges faced in its filing processes. As it works diligently toward compliance and restoring its filing cadence in 2025, stakeholders are encouraged to stay apprised of any developments regarding this pressing situation. For more detailed information, interested parties can visit B. Riley Financial’s official website.