B. Riley Financial Addresses Nasdaq Compliance Notification
B. Riley Financial's Compliance Notification from Nasdaq
B. Riley Financial, Inc. (Nasdaq: RILY) recently faced a notification from Nasdaq regarding compliance with their Listing Rules. The notification comes as a result of delays in filing financial reports.
Understanding the Delinquency Notification
According to a notification letter received, B. Riley Financial is currently not compliant with the Nasdaq Listing Rule 5250(c)(1), stemming from the delayed filing of its Form 10-Q for the quarter that ended June 30, 2025. This rule mandates that publicly listed companies file their financial reports in a timely fashion with the SEC.
Impact on B. Riley Financial's Listing
While the notification indicates a lapse in compliance, it is important to note that this occurrence does not have an immediate impact on the listing status of B. Riley Financial's stock on Nasdaq. The company has received a grace period to address these filing requirements.
Extension Granted by Nasdaq
Nasdaq has provided B. Riley Financial with an extension until September 29, 2025, to submit several overdue financial documents. These include the Form 10-K for the year ending December 31, 2024, and the Form 10-Qs for the periods ending March 31, 2025, and June 30, 2025. This extension emphasizes Nasdaq's understanding of the challenges faced by companies in meeting strict financial reporting deadlines.
Expectations Moving Forward
To regain compliance, B. Riley Financial must submit a detailed update regarding its plan to fulfill these filing obligations by September 4, 2025. The company's management has indicated a commitment to resolving these issues promptly.
B. Riley Financial's Business Outlook
Recently, B. Riley Financial released preliminary results for the fourth quarter and the full year of 2024, along with an update on business performance for the first half of 2025. The management asserts that they will file the overdue 10-K, along with the outstanding Forms 10-Q, within the stipulated timeframe, estimating completion within 30 to 45 days after the 10-K is made available.
About B. Riley Financial
B. Riley Financial (BRF) is a diversified financial services firm that aims to cater to the various strategic, operational, and capital requirements of its clients. Through its subsidiaries and affiliated companies, BRF offers a wide range of services, from investment banking to institutional brokerage and private wealth management. Their approach is centered on providing comprehensive financial solutions tailored to the unique needs of businesses at different stages of their lifecycle.
Investments and Financial Services
In addition to conventional financial services, B. Riley Financial engages in strategic investments, focusing on benefiting its shareholders. Some of its affiliates also originate and underwrite senior secured loans to asset-rich organizations, providing further avenues for client support and company growth.
Looking Ahead
B. Riley Financial is leveraging its extensive experience and cross-industry insights to navigate current challenges and enhance its operational output. The company remains optimistic about fulfilling the necessary compliance requirements and continuing its commitment to shareholders and clients alike.
Frequently Asked Questions
What prompted the notification from Nasdaq?
The notification arose due to B. Riley Financial's delayed filing of its Form 10-Q for June 30, 2025, indicating non-compliance with Nasdaq Listing Rule 5250(c)(1).
What is the deadline for B. Riley Financial to address these issues?
The company has been given an extension until September 29, 2025, to file the overdue financial documents.
Will this notification affect the stock listing?
Currently, the notification does not have an immediate impact on the listing status of B. Riley Financial's stock on Nasdaq.
What steps is B. Riley Financial taking to regain compliance?
The company must submit an update regarding its compliance plan by September 4, 2025, and aims to file all overdue documents within the extension period.
How does B. Riley Financial support its clients?
B. Riley Financial provides a variety of financial services, including investment banking, wealth management, and corporate restructuring, tailored to meet client needs.
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