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The latest update is out from B Riley Financial ( (RILY) ).
B. Riley Financial, Inc. and its wholly owned subsidiary, BR Financial Holdings, LLC, amended their credit agreement, increasing interest rates and adjusting financial covenants such as leverage and liquidity ratios. They repaid approximately $85.9 million of their term loan and terminated their $100 million revolving credit facility. Additionally, Kenny Young resigned from several executive roles within the company but will remain as a consultant, earning $250,000 annually, and continue serving as CEO of Babcock & Wilcox Enterprises, Inc. through a new agreement with his own entity.
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