PR Newswire: B. Riley Financial Announces Carve Out Transaction with B. Riley Securities
March 11, 2025
O’Melveny advised B. Riley Securities, the investment banking subsidiary of B. Riley Financial, Inc., on a carve out transaction in which a formerly wholly-owned subsidiary of B. Riley Financial, Inc. has merged with Cascadia Investments, Inc., a shell entity, as a result of which certain investors in Cascadia became minority stockholders of B. Riley Securities. As part of the tax-free transaction, which was announced on March 11, B. Riley Securities is implementing its own operating and governance structure, and its common stock will now be quoted on the OTC Pink market under the ticker symbol “BRLY.”
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