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B. Riley Financial, Inc. (RILY) Builds on Recent Financial Performance by Uplisting to the NASDAQ Capital Market
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
