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8-K: Current report

8-K: Current report

8-K：重大事件
美股SEC公告 ·  2024/09/23 16:18

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B. Riley Financial has executed Amendment No. 4 to its Credit Agreement, repaying $85.9 million of Term Loans, reducing the outstanding principal to $388.1 million, and terminating the $100 million Revolving Credit Facility. The amendment includes increased interest rates and requires Term Loans to be reduced to $100 million by September 30, 2025, along with revised financial covenants including a Total Net Leverage Ratio cap of 10.00:1.00.In a significant leadership change, Kenny Young has resigned from his positions as Company President and CEO of B. Riley Principal Investments. He will transition to a one-year consulting role with an annual fee of $250,000. Additionally, Young's service agreement with Babcock & Wilcox Enterprises through BRPI Executive Consulting has been terminated, though he will continue as B&W's CEO through his own entity.
B. Riley Financial has executed Amendment No. 4 to its Credit Agreement, repaying $85.9 million of Term Loans, reducing the outstanding principal to $388.1 million, and terminating the $100 million Revolving Credit Facility. The amendment includes increased interest rates and requires Term Loans to be reduced to $100 million by September 30, 2025, along with revised financial covenants including a Total Net Leverage Ratio cap of 10.00:1.00.In a significant leadership change, Kenny Young has resigned from his positions as Company President and CEO of B. Riley Principal Investments. He will transition to a one-year consulting role with an annual fee of $250,000. Additionally, Young's service agreement with Babcock & Wilcox Enterprises through BRPI Executive Consulting has been terminated, though he will continue as B&W's CEO through his own entity.
B. Riley Financial已执行其信贷协议的第4次修正，偿还8590万美元的定期贷款，将未偿还本金减少至38810万美元，并终止10000万美元的循环信用额度。该修正案包括提高利率期货，并要求在2025年9月30日之前将定期贷款减少至10000万美元，并修订财务契约，包括总净杠杆率上限为10.00:1.00。在重大领导层变动中，Kenny Young辞去了B. Riley Principal Investments的公司总裁和首席执行官职位。他将转入为期一年的咨询角色，年费为250,000美元。此外，Young与Babcock & Wilcox Enterprises通过BRPI Executive Consulting的服务协议已被终止，但他将继续通过自己的实体担任B&W的首席执行官。
B. Riley Financial已执行其信贷协议的第4次修正，偿还8590万美元的定期贷款，将未偿还本金减少至38810万美元，并终止10000万美元的循环信用额度。该修正案包括提高利率期货，并要求在2025年9月30日之前将定期贷款减少至10000万美元，并修订财务契约，包括总净杠杆率上限为10.00:1.00。在重大领导层变动中，Kenny Young辞去了B. Riley Principal Investments的公司总裁和首席执行官职位。他将转入为期一年的咨询角色，年费为250,000美元。此外，Young与Babcock & Wilcox Enterprises通过BRPI Executive Consulting的服务协议已被终止，但他将继续通过自己的实体担任B&W的首席执行官。
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