Why Riley Financial Shares Are Moving Today
Why Riley Financial Shares Are Moving Today
B. Riley Financial (NASDAQ:RILY) shares rose on Monday after the company announced strategic and financing initiatives. Initiaves included negotiating a sale of a majority stake in its Great American Group at a $380 million enterprise value, alongside a $236 million debt financing plan for its brands portfolio.
b. 萊利金融（納斯達克股票代碼：RILY）週一股價上漲，此前該公司宣佈了戰略和融資舉措。舉措包括談判以3.8億美元的企業價值出售其Great American Group的多數股權，以及爲其品牌投資組合制定2.36億美元的債務融資計劃。
What To Know: These moves are expected to yield around $410 million in gross cash proceeds, which the company plans to use to reduce its senior secured debt to approximately $125 million by the end of 2024.
須知：這些舉措預計將產生約4.1億美元的總現金收益，該公司計劃在2024年底之前將其優先擔保債務減少至約1.25億美元。
Key Initiatives:
主要舉措：
- Sale of Majority Stake: B. Riley is negotiating the sale of a 53% stake in its Great American Group business, valued at approximately $380 million.
- Debt Financing Initiative: The company has entered into a non-binding agreement for $236 million in debt financing for its brands portfolio, using the funds to pay down its senior secured debt.
- Debt Repayment: B. Riley intends to use the proceeds to reduce debt, aiming to lower its Nomura Senior Secured Credit Agreement to $125 million by the end of 2024.
- Balance Sheet Strengthening: The cumulative transactions are expected to enhance the company's financial position, allowing for better investment in its core businesses.
- 出售多數股權：b. Riley正在談判出售其大美集團業務53％的股份，價值約3.8億美元。
- 債務融資計劃：該公司已簽訂一項不具約束力的協議，爲其品牌投資組合提供2.36億美元的債務融資，使用這些資金償還其優先擔保債務。
- 債務償還：b. Riley打算將所得款項用於減少債務，目標是到2024年底將其野村優先擔保信貸協議降低至1.25億美元。
- 資產負債表增強：累積交易預計將改善公司的財務狀況，從而可以更好地投資其核心業務。
Price Action: As of now, B. Riley shares have surged by 11.1%, with the price rising to $5.97 according to Benzinga pro.
價格走勢：截至目前。據Benzinga專業人士稱，萊利股價飆升了11.1％，價格上漲至5.97美元。
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Image: Shutterstock/ solarseven.
圖片：Shutterstock/solarseven。
譯文內容由第三人軟體翻譯。