B Riley surges as Oaktree loan helps pay off Nomura debt

BRC group

27/02/2025 12:41

** B. Riley Financial's shares RILY.O surge nearly 15% premarket

** Beleaguered investment bank RILY gets $160 mln debt facility from Oaktree Capital, uses $118 mln to repay debt to Nomura and rest for working capital

** Stock has been in tailspin since August when it forecast huge losses due to exposure to Vitamin Shoppe-owner

** Stock has plunged 66% since then, despite a recent surge

** Stock regained Nasdaq compliance after filing delayed Q3 earlier this week; prelim FY results due Monday

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))