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8-K: Current report

8-K: Current report

8-K：重大事件
美股SEC公告 ·  2024/10/15 18:55

Moomoo AI 已提取核心信息

B. Riley Financial has entered into a definitive agreement with Oaktree Capital Management to establish a partnership in Great American Holdings, LLC. The transaction values Great American NewCo at $386 million, with Oaktree investing $203 million in cash for approximately 53% of common units and Class A Preferred Units, while B. Riley retains about 47% ownership and receives Class B Preferred Units.The deal involves B. Riley's Appraisal and Valuation Services, Retail, Wholesale & Industrial Solutions, and Real Estate businesses. The new entity will have a five-member board with Oaktree appointing the majority of directors. The Class A Preferred Units will carry a 7.5% cash coupon plus 7.5% PIK coupon, while Class B Preferred Units will have a 2.3% PIK coupon.The transaction, expected to close in Q4 2024, aims to reduce B. Riley's debt while maintaining significant equity upside. The partnership leverages Oaktree's expertise in alternative investments and capital provision with Great American Group's asset disposition and advisory services capabilities. The deal is subject to regulatory approvals and customary closing conditions.
B. Riley Financial has entered into a definitive agreement with Oaktree Capital Management to establish a partnership in Great American Holdings, LLC. The transaction values Great American NewCo at $386 million, with Oaktree investing $203 million in cash for approximately 53% of common units and Class A Preferred Units, while B. Riley retains about 47% ownership and receives Class B Preferred Units.The deal involves B. Riley's Appraisal and Valuation Services, Retail, Wholesale & Industrial Solutions, and Real Estate businesses. The new entity will have a five-member board with Oaktree appointing the majority of directors. The Class A Preferred Units will carry a 7.5% cash coupon plus 7.5% PIK coupon, while Class B Preferred Units will have a 2.3% PIK coupon.The transaction, expected to close in Q4 2024, aims to reduce B. Riley's debt while maintaining significant equity upside. The partnership leverages Oaktree's expertise in alternative investments and capital provision with Great American Group's asset disposition and advisory services capabilities. The deal is subject to regulatory approvals and customary closing conditions.
B. Riley Financial与Oaktree Capital Management达成了关于在Great American Holdings, LLC建立合作伙伴关系的最终协议。这项交易对Great American NewCo的估值为38600万美元，Oaktree以20300万美元现金投资，获得约53%的普通单位和A类优先单位，而B. Riley则保留约47%的所有权并获得B类优先单位。这笔交易涉及B. Riley的评估和估值服务、零售、批发与工业解决方案，以及房地产业务。新实体将有一个五人董事会，Oaktree将任命大多数董事。A类优先单位将带有7.5%的现金券加7.5%的PIK...展开全部
B. Riley Financial与Oaktree Capital Management达成了关于在Great American Holdings, LLC建立合作伙伴关系的最终协议。这项交易对Great American NewCo的估值为38600万美元，Oaktree以20300万美元现金投资，获得约53%的普通单位和A类优先单位，而B. Riley则保留约47%的所有权并获得B类优先单位。这笔交易涉及B. Riley的评估和估值服务、零售、批发与工业解决方案，以及房地产业务。新实体将有一个五人董事会，Oaktree将任命大多数董事。A类优先单位将带有7.5%的现金券加7.5%的PIK券，而B类优先单位将有2.3%的PIK券。该交易预计将在2024年第四季度完成，旨在减少B. Riley的债务，同时保持显著的权益上行空间。该合作伙伴关系利用了Oaktree在另类投资和资本提供方面的专业知识，以及Great American Group在资产处置和顾问服务方面的能力。该交易需经过监管批准和惯例成交条件。

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