(Bloomberg) -- B. Riley Financial Inc.’s lenders are getting more oversight of the company’s finances, including weekly updates on its liquidity and some of ...
-- B. Riley Financial Inc.’s lenders are getting more oversight of the company’s finances, including weekly updates on its liquidity and some of its dealmaking amid efforts to pull the money-losing investment firm out of its tailspin.From Cleveland to Chicago, NFL Teams Dream of Domed Stadiums
Quarterly results and regulatory filings for the second quarter remain pending, but B. Riley has told investors to expect hundreds of million of dollars in writedowns, and said it’s cooperating with an investigation into some of its affairs by the US Securities and Exchange Commission. A broad outline of the amendment in a regulatory filing last month showed lenders boosting the loan’s interest rate, eliminating a revolving credit line and telling B. Riley to cut the balance on its term loans to $100 million within the next year. As part of the deal, B. Riley repaid about $85.9 million, reducing the sum it owes to $388.1 million.
B. Riley described those deals at the time as non-binding commitments, and it hasn’t announced formal agreements since then. A binding version of Riley’s informal bid to take the company private at $7 a share also hasn’t been announced. B. Riley has denounced short sellers, saying earlier this year that they’ve been disseminating “false information for their own profit to the detriment of the firm’s clients and customers.”MLB playoffs 2024: Francisco Lindor sends Mets to the NLCS, eliminates Phillies with grand slam in NLDS Game 4
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