Why B. Riley Financial Stock Soared Today
Shares of B. Riley Financial (NASDAQ: RILY) climbed 11.6% on Thursday after the financial services firm was granted an extension by lender Nomura to file its audited financial results.
In an SEC filing yesterday, B. Riley revealed that it has secured an extension from Nomura Corporate Funding Americas, giving it until April 29, 2024 to deliver its audited financials for the year ending Dec. 31, 2023 in order to remain in good standing with the lender.
"The Company acknowledges the key role its lenders and other counterparties have played in its growth and success and, as evidenced by the extension, continues to maintain an ongoing and productive dialogue with its lenders even through this temporary delay," B. Riley wrote in the filing.
Source Fool.com
