B. Riley Financial recently took another step toward
increasing shareholder value by uplisting to the NASDAQ Capital Market.
Beginning at the opening of trading on July 16, the financial and business
advisory services company officially commenced trading on the national market,
establishing a platform upon which to expand its market presence in the months
to come.
“Our listing on the NASDAQ exchange is another important
milestone for our company,” Bryant Riley, chairman and chief executive officer
of RILY, stated in a news release. “We believe that the listing of our shares
on NASDAQ will help expand our shareholder base, improve liquidity, and
ultimately, increase shareholder value.”
Headquartered in Los Angeles, RILY is a diversified
financial services company taking a collaborative approach to the capital
raising and financial advisory needs of public and private businesses and
high-net-worth individuals. The company, along with its wholly-owned
subsidiaries, consists of more than 200 professionals whose cross-platform
expertise allows RILY to offer a myriad of financial solutions. Among the
company’s subsidiaries are leading investment bank and FINRA-licensed broker
dealer, B. Riley & Co. LLC, as well as Great American Group, LLC, a leading
provider of advisory and valuation services, asset disposition and auction
solutions.
In the first quarter of 2015, RILY gave prospective
shareholders a preview of its tremendous growth potential by realizing a 20
percent year-over-year increase in total revenues, recording $26 million for
the period. Among this revenue, approximately $9.2 million was attributable to
the company’s operational synergies following its June 2014 acquisition of B.
Riley & Co. LLC. In total, RILY leveraged its improved status within its
target markets to record a net income of $2.7 million for the quarter.
“Our Q1 results reflected our ability to capture synergies
from the B. Riley and Great American combination, further diversify our revenue
base, and capitalize on attractive opportunities in our capital markets and
liquidation businesses,” continued Riley. “[W]e are increasingly confident in
our ability to leverage our diversified and expanding financial services
platform to generate recurring revenue along with strong profitability.”
In recent weeks, RILY has built upon its first quarter
results, establishing strong momentum ahead of its transition to the NASDAQ
exchange. Last month, the company successfully closed a $25 million term loan
to RadioShack, announced auction proceedings for the assets and intellectual
property of three Saleen (SLNN) supercars and acted as the exclusive financial
advisor to Hoffman Southwest Corporation in its sale to Sterling Partners. In
addition to demonstrating the formidable market performance of RILY, these
transactions also highlight the highly diverse and viable revenue base of the
company moving forward.
For more information, visit www.brileyfin.com
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