<SEC-DOCUMENT>0001213900-23-087668.txt : 20231115
<SEC-HEADER>0001213900-23-087668.hdr.sgml : 20231115
<ACCEPTANCE-DATETIME>20231115190057
ACCESSION NUMBER:		0001213900-23-087668
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231113
FILED AS OF DATE:		20231115
DATE AS OF CHANGE:		20231115

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Moore Andrew
		CENTRAL INDEX KEY:			0001746643

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37503
		FILM NUMBER:		231411990

	MAIL ADDRESS:	
		STREET 1:		C/O B. RILEY FINANCIAL, INC.
		STREET 2:		21255 BURBANK BLVD., SUITE 400
		CITY:			WOODLAND HILLS
		STATE:			CA
		ZIP:			91367

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			B. Riley Financial, Inc.
		CENTRAL INDEX KEY:			0001464790
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				270223495
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		11100 SANTA MONICA BLVD
		STREET 2:		SUITE 800
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		818-884-3737

	MAIL ADDRESS:	
		STREET 1:		11100 SANTA MONICA BLVD
		STREET 2:		SUITE 800
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Great American Group, Inc.
		DATE OF NAME CHANGE:	20090522
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-11-13</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001464790</issuerCik>
        <issuerName>B. Riley Financial, Inc.</issuerName>
        <issuerTradingSymbol>RILY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001746643</rptOwnerCik>
            <rptOwnerName>Moore Andrew</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O B. RILEY FINANCIAL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>11100 SANTA MONICA BLVD., SUITE 800</rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO B. Riley Securities, Inc.</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-11-13</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>61609</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>20.3482</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>318054</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The sales reported in this Form 4 were made by a broker, without instruction by the Reporting Person, to satisfy a margin call. As a Section 16 filer, the Reporting Person has not otherwise sold shares of the Issuer's common stock and the Reporting Person intends to continue increasing his investment in the Issuer over time.</footnote>
        <footnote id="F2">These transactions were executed in multiple trades at prices ranging from $16.72 to $24.14. The prices reported above reflect the weighted average sales prices. The Reporting Person hereby undertakes to provide upon request from the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrew Moore</signatureName>
        <signatureDate>2023-11-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
