Why Is B. Riley Financial Stock Jumping Today?
Why Is B. Riley Financial Stock Jumping Today?
B. Riley Financial, Inc. (NASDAQ:RILY) shares are trading higher after the company, in a 13D filing, disclosed that co-founder Bryant R. Riley wrote a letter to the Board of Directors with a proposal to acquire all shares of common stock that he does not own for a price of $7 per share.
b. Riley Financial公司（納斯達克：RILY）股票價格上漲。公司在13D文件中披露，聯合創始人Bryant R. Riley向董事會提出了一項收購建議，收購他所不擁有的所有普通股股份，每股7美元。
Riley is the largest stockholder of B. Riley Financial, owning approximately 24% of the company's outstanding common stock. This valuation represents about a 40% premium over the previous closing price.
Riley是b. Riley Financial公司的最大股東，擁有該公司約24%的流通普通股。這個估值相當於比上一個收盤價高約40%。
The company went public at $5 per share through a 2014 merger with Great American Group. Since then, it has returned over $20 per share to shareholders through dividends and buybacks, and generated over $1.1 billion in operating EBITDA over the past three years.
該公司通過與Great American Group的2014年合併以每股5美元的價格上市。此後，它通過分紅派息和回購向股東返還了超過20美元，並在過去三年裏創造了超過11億美元的運營EBITDA。
Also Read: Gold Prices Hit All-Time Highs Of $2,500 As Traders Jump On Rate-Cut Train: Mining Stocks On The Move Friday
據彭博社報道，隨着交易員們跳上減息列車，金價創下了2500美元的歷史新高，礦業股票週五大幅走高。
"Notwithstanding our history of strong execution and value creation, the current public company paradigm requires us to focus on short-term objectives and allocate unnecessary attention and time on constituencies who are not aligned with the owners of the business," the letter read.
信中寫道：「儘管我們有強有力的執行能力和價值創造歷史，但當前的上市公司範例要求我們專注於短期目標，並在不與業務所有者觀點相符的利益相關方上浪費不必要的注意力和時間。」
Riley said he plans on continuing to report financials to the SEC, and the company's bonds will continue to be publicly traded.
Riley表示他計劃繼續向SEC報告財務數據，並且公司的債券將繼續公開交易。
"It is possible that I will continue to list on a secondary exchange if there are shareholders that would like to participate in this transaction," Riley added.
「如果有股東想參與這筆交易，我可能會繼續在二級交易所上市， 」Riley補充說。
This decision follows the company's recent suspension of its dividend, announcement of its largest quarterly loss, and confirmation of an SEC investigation, reported Bloomberg.
這項決定是在公司最近暫停分紅、宣佈其最大季度虧損並確認SEC調查之後做出的，據彭博社報道。
Riley, also the chairman and co-chief executive officer of the company, plans to finance the transaction with debt and, potentially, equity from third-party capital providers. The proposed transaction would not be subject to a financing condition.
該公司主席兼聯席首席執行官Riley計劃通過債務和可能的第三方資本提供者的股本來融資這項交易。建議交易不需要滿足融資條件。
Price Action: RILY shares are trading higher by 21.9% to $6.14 at last check Friday.
RILY股票價格上漲21.9%，上漲至6.14美元。
Photo via Shutterstock
圖片來自shutterstock。
- Walmart Stock 'One Of The Most Compelling' Retail Investments: 7 Analysts Highlight Market Share Gains
- 沃爾瑪股票是最具吸引力的零售投資之一：7名分析師強調市場份額增長。
譯文內容由第三人軟體翻譯。