<SEC-DOCUMENT>0001213900-25-019421.txt : 20250303
<SEC-HEADER>0001213900-25-019421.hdr.sgml : 20250303
<ACCEPTANCE-DATETIME>20250303161616
ACCESSION NUMBER:		0001213900-25-019421
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250303
DATE AS OF CHANGE:		20250303

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			B. Riley Financial, Inc.
		CENTRAL INDEX KEY:			0001464790
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				270223495
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-84964
		FILM NUMBER:		25698140

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RILEY BRYANT R
		CENTRAL INDEX KEY:			0001207269
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		C/O B. RILEY FINANCIAL, INC.
		STREET 2:		21255 BURBANK BLVD, SUITE 400
		CITY:			WOODLAND HILLS
		STATE:			CA
		ZIP:			91367
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: RILEY BRYANT R -->
          <cik>0001207269</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock, par value $0.0001 par value</securitiesClassTitle>
      <dateOfEvent>03/03/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001464790</issuerCIK>
        <issuerCUSIP>05580M108</issuerCUSIP>
        <issuerName>B. Riley Financial, Inc.</issuerName>
        <address>
          <com:street1>11100 Santa Monica Blvd</com:street1>
          <com:street2>Suite 800</com:street2>
          <com:city>Los Angeles</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>90025</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Bryant R. Riley</personName>
          <personPhoneNum>818 884-3737</personPhoneNum>
          <personAddress>
            <com:street1>11100 Santa Monica Boulevard,</com:street1>
            <com:street2>Suite 800</com:street2>
            <com:city>Los Angeles</com:city>
            <com:stateOrCountry>CA</com:stateOrCountry>
            <com:zipCode>90025</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001207269</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Bryant R. Riley</reportingPersonName>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>7041164.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>7041164.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>7041164.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>23</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>Box 13 is based on a total of 30,497,066 Shares (as defined below) of the Issuer outstanding as of February 19, 2025, which is the total number of Shares outstanding as reported in the Issuer's quarterly report on Form 10-Q filed with the SEC on February 21, 2025.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.0001 par value</securityTitle>
        <issuerName>B. Riley Financial, Inc.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>11100 Santa Monica Blvd</com:street1>
          <com:street2>Suite 800</com:street2>
          <com:city>Los Angeles</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>90025</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>This Amendment No. 3 amends and supplements the Schedule 13D filed with the U.S. Securities and Exchange Commission (the "SEC") on June 30, 2014, as amended by the Amendment No. 1 filed with the SEC on August 16, 2024 and Amendment No. 2 filed with the SEC on October 30, 2024 (as so amended, the "Schedule 13D"), relating to the Common Stock, par value $0.0001 per share (the "Common Stock" or "Shares"), of B. Riley Financial, Inc., a Delaware corporation (the "Issuer" or the "Company"). Except as set forth herein, the Schedule 13D is unmodified and remains in full force and effect. Each capitalized term used but not defined herein has the meaning ascribed to such term in the Schedule 13D.</commentText>
      </item1>
      <item4>
        <transactionPurpose>Item 4 is amended to add the following:

On March 3, 2025, Bryant R. Riley submitted a letter (the "Letter") to the Board of Directors of the Company announcing that he is suspending his pursuit of the proposed "going private" transaction to focus on continuing to work together to help the Company succeed.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>As of the date hereof, Bryant R. Riley beneficially owns 6,844,926 shares of Common Stock, representing 22.4% of the Issuer's Common Stock outstanding, based on a total of 30,497,066 Shares of the Issuer outstanding as of February 19, 2025, which is the total number of Shares outstanding as reported in the Issuer's quarterly report on Form 10-Q filed with the SEC on February 21, 2025.

Bryant R. Riley may be deemed to indirectly beneficially own 196,238 shares of Common Stock representing 0.6% of the Issuer's Common Stock outstanding on February 19, 2025, of which (i) 17,538 are held as sole custodian for the benefit of Abigail Riley, (ii) 17,538 are held as sole custodian for the benefit of Charlie Riley, (iii) 17,537 are held as sole custodian for the benefit of Eloise Riley, (iv) 17,538 are held as sole custodian for the benefit of Susan Riley, and (v) 126,087 are held by B. Riley Financial, Inc. 401(k) Profit Sharing Plan FBO Bryant R. Riley. The shares of Common Stock previously reported as being held by the Robert Antin Children Irrevocable Trust were transferred to a different entity and as such, Bryant R. Riley is no longer deemed to have voting or dispositive power over the shares.</percentageOfClassSecurities>
        <numberOfShares>The information in Item 5(a) is incorporated by reference herein.</numberOfShares>
        <transactionDesc>There were no transactions by the Reporting Person in shares of Common Stock during the period commencing sixty (60) days prior to the date hereof.</transactionDesc>
        <listOfShareholders>None.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>The information with respect to the Letter in Item 4 is incorporated by reference herein.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Exhibit 1 - Letter to the Board of Directors by the Reporting Person (filed herewith).</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Bryant R. Riley</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Bryant R. Riley</signature>
          <title>Bryant R. Riley</title>
          <date>03/03/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>ea023288201ex1_brileyfin.htm
<DESCRIPTION>LETTER TO THE BOARD OF DIRECTORS BY THE REPORTING PERSON
<TEXT>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 3, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11100 Santa Monica Blvd, Suite 800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Los Angeles, CA 90025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentleman:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As you know, I am the co-founder and largest stockholder
of B. Riley Financial, Inc (the &ldquo;Company&rdquo;) owning approximately 23% of the Company&rsquo;s outstanding common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 15, 2024, I submitted a letter announcing
my intention to explore a &ldquo;going private&rdquo; transaction that would result in my acquisition of potentially all of the outstanding
shares of common stock of the Company that I do not presently own.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since that time, we have completed a tremendous
amount of work and effort to help the Company succeed. We have also entered into agreements with new partners which I am very excited
about. I have also recognized that we will have additional options available to us to manage our balance sheet, particularly our baby
bonds that would not be available to us as a private company. Based on all of this, I now believe staying public is in the best interest
of all constituents. Therefore, I have determined to suspend my pursuit of the proposed &ldquo;going private&rdquo; transaction to focus
on continuing to work together to help the Company succeed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to my obligations under the securities laws,
I intend to file a 13D amendment, including a copy of this letter with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sincerely,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bryant Riley</P>

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</DOCUMENT>
</SEC-DOCUMENT>
