LOS ANGELES, March 3, 2025 /PRNewswire/ -- B. Riley
Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the
"Company"), a diversified financial services company, today announced
it has completed the sale of Atlantic Coast Recycling, LLC for approximately
$70 million in cash proceeds. The Company expects to record a gain of
approximately $30 million on the sale in the first quarter.
Bryant Riley, Chairman and
Co-Chief Executive Officer of B. Riley Financial, commented: "Atlantic Coast Recycling has been
a profitable investment for our Principal Investments team, which invested
approximately $39 million in the business."
About B. Riley Financial
B. Riley Financial is a
diversified financial services company that delivers tailored solutions to meet
the strategic, operational, and capital needs of its clients and partners. B.
Riley leverages cross-platform expertise to provide clients with full service,
collaborative solutions at every stage of the business life cycle. Through its
subsidiaries and affiliated entities, B. Riley provides end-to-end financial
services across investment banking, institutional brokerage, private wealth and
investment management, financial consulting, corporate restructuring,
operations management, risk and compliance, due diligence, forensic accounting,
litigation support, appraisal and valuation, auction, and liquidation services.
B. Riley opportunistically invests to benefit its shareholders, and certain
affiliates originate and underwrite senior secured loans for asset-rich
companies. B. Riley refers to B. Riley Financial, Inc. and/or one or more of
its subsidiaries or affiliated companies. For more information, please visit www.brileyfin.com.
Forward-Looking Statements
Statements made in this press release that are not descriptions of historical
facts are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and are based on management's current
expectations and assumptions and are subject to risks and uncertainties. If
such risks or uncertainties materialize or such assumptions prove incorrect,
our business, operating results, financial condition, and stock price could be
materially negatively affected. You should not place undue reliance on such
forward-looking statements, which are based on the information currently
available to us and speak only as of today's date. All statements other than
statements of historical fact are forward-looking statements. These
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the Company's performance or achievements to be
materially different from any expected future results, performance, or
achievements. Forward-looking statements speak only as of the date they are
made and the Company assumes no duty to update forward-looking statements,
except as required by law. Actual future results, performance or achievements
may differ materially from historical results or those anticipated depending on
a variety of factors, some of which are beyond the control of the Company,
including, but not limited to, the risks described from time to time in the
Company's periodic filings with the SEC, including, without limitation, the
risks described in the Company's 2023 Annual Report on Form 10-K and Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2024 under the
captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" (as
applicable). These factors should be considered carefully, and readers are
cautioned not to place undue reliance on such forward-looking statements. All
information is current as of the date this press release is issued, and the
Company undertakes no duty to update this information.
Contacts
Investors
ir@brileyfin.com
Media
press@brileyfin.com