Bryant Riley Offers to Buy Remaining B. Riley Shares for $7 Each, Stock Up 24%

Aug 16, 2024, 12:40 PM

Bryant Riley, Chairman and Co-CEO of B. Riley Financial, has proposed to acquire all outstanding shares of the company he does not already own for $7 per share. As the largest shareholder, Riley holds significant influence over the company's operations and strategic decisions. The offer, which values the remaining 76.8% of shares at approximately $162.7 million, is intended to be financed with debt and potential equity. This proposal has led to a 24% increase in B. Riley Financial's pre-market stock price.