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（纳斯达克：RILY）股票价格上涨。公司在13D文件中披露，联合创始人Bryant R. Riley向董事会提出了一项收购建议，收购他所不拥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公司的最大股东，拥有该公司约24%的流通普通股。这个估值相当于比上一个收盘价高约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.
该公司通过与Great American Group的2014年合并以每股5美元的价格上市。此后，它通过分红派息和回购向股东返还了超过20美元，并在过去三年里创造了超过11亿美元的运营EBITDA。
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据彭博社报道，随着交易员们跳上降息列车，金价创下了2500美元的历史新高，矿业股票周五大幅走高。
"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.
信中写道：“尽管我们有强有力的执行能力和价值创造历史，但当前的上市公司范例要求我们专注于短期目标，并在不与业务所有者观点相符的利益相关方上浪费不必要的注意力和时间。”
Riley said he plans on continuing to report financials to the SEC, and the company's bonds will continue to be publicly traded.
Riley表示他计划继续向SEC报告财务数据，并且公司的债券将继续公开交易。
"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.
“如果有股东想参与这笔交易，我可能会继续在二级交易所上市， ”Riley补充说。
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.
这项决定是在公司最近暂停分红、宣布其最大季度亏损并确认SEC调查之后做出的，据彭博社报道。
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.
该公司主席兼联席首席执行官Riley计划通过债务和可能的第三方资本提供者的股本来融资这项交易。建议交易不需要满足融资条件。
Price Action: RILY shares are trading higher by 21.9% to $6.14 at last check Friday.
RILY股票价格上涨21.9%，上涨至6.14美元。
Photo via Shutterstock
图片来自shutterstock。
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