0000902664-20-000178.txt : 20200113 0000902664-20-000178.hdr.sgml : 20200113 20200113163310 ACCESSION NUMBER: 0000902664-20-000178 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200113 DATE AS OF CHANGE: 20200113 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: B. Riley Financial, Inc. CENTRAL INDEX KEY: 0001464790 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 270223495 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-84964 FILM NUMBER: 20524089 BUSINESS ADDRESS: STREET 1: 21255 BURBANK BLVD. STREET 2: SUITE 400 CITY: WOODLAND HILLS STATE: CA ZIP: 91367 BUSINESS PHONE: 818-884-3737 MAIL ADDRESS: STREET 1: 21255 BURBANK BLVD. STREET 2: SUITE 400 CITY: WOODLAND HILLS STATE: CA ZIP: 91367 FORMER COMPANY: FORMER CONFORMED NAME: Great American Group, Inc. DATE OF NAME CHANGE: 20090522 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Elliott Investment Management L.P. CENTRAL INDEX KEY: 0001791786 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 40 WEST 57TH STREET CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-974-6000 MAIL ADDRESS: STREET 1: 40 WEST 57TH STREET CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D/A 1 p20-0063sc13da.htm B. RILEY FINANCIAL, INC.
SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C. 20549  
   
SCHEDULE 13D/A
 

Under the Securities Exchange Act of 1934

(Amendment No. 6)

 

B. Riley Financial, Inc.

(f/k/a Great American Group, Inc.)

(Name of Issuer)
 

Common Stock, par value $0.0001 per share

(Title of Class of Securities)
 

05580M108

(CUSIP Number)
 

Elliott Investment Management, L.P.

40 West 57th Street

New York, NY 10019

 

with a copy to:

Eleazer Klein, Esq.
Marc Weingarten, Esq.

Schulte Roth & Zabel LLP

919 Third Avenue

New York, New York 10022

(212) 756-2000

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
 

January 1, 2020**

(Date of Event Which Requires Filing of This Statement)
 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [ ]

 

(Page 1 of 5 Pages)

______________________________

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

** This amendment is being filed to fulfill the initial filing obligation of Elliott Investment Management L.P. which, effective January 1, 2020, is the investment manager of Elliott Associates, L.P. ("Elliott Associates") and Elliott International, L.P. ("Elliott International") and has been delegated all voting and investment power over the securities held by Elliott Associates and Elliott International (and their respective subsidiaries). Accordingly, Elliott Associates, Elliott International and Elliott International Capital Advisers Inc. are no longer reporting persons on this filing. The initial Schedule 13D filing and all prior amendments were made under CIK 0000904495 and CIK 0001614418.

 

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

CUSIP No. 05580M108Schedule 13D/APage 2 of 5 Pages

 

1

NAME OF REPORTING PERSON

Elliott Investment Management L.P.

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) ¨

3 SEC USE ONLY
4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ¨
6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
7

SOLE VOTING POWER

2,181,036

8

SHARED VOTING POWER

-0-

9

SOLE DISPOSITIVE POWER

2,181,036

10

SHARED DISPOSITIVE POWER

-0-

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

2,181,036

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

8.1%

14

TYPE OF REPORTING PERSON

PN, IA

         

 

 

CUSIP No. 05580M108Schedule 13D/APage 3 of 5 Pages

 

 

The following constitutes Amendment No. 6 to the Schedule 13D ("Amendment No. 6").  This Amendment No. 6 amends the Schedule 13D as specifically set forth herein.
   
Item 2. IDENTITY AND BACKGROUND
   
Item 2 is hereby amended and restated as follows:
   
(a)-(c) This statement is being filed by Elliott Investment Management L.P., a Delaware limited partnership ("EIM" or the "Reporting Person"), the investment manager of Elliott Associates, L.P., a Delaware limited partnership ("Elliott") and Elliott International, L.P., a Cayman Islands limited partnership ("Elliott International" and together with Elliott, the "Elliott Funds"), with respect to the shares of Common Stock held by the Elliott Funds and/or their respective subsidiaries.  Elliott Investment Management GP LLC, a Delaware limited liability company ("EIM GP"), is the sole general partner of EIM.  Paul E. Singer ("Singer") is the sole managing member of EIM GP.  
 
EIM
 
The business address of EIM is 40 West 57th Street New York, New York 10019.
 
The principal business of EIM is to act as investment manager for Elliott and Elliott International.
 
The name, business address, and present principal occupation or employment of the general partner of EIM is as follows:
     
NAME ADDRESS OCCUPATION
     
Elliott Investment Management GP LLC 40 West 57th St.
New York, New York 10019
General partner of EIM
 
EIM GP
 
The business address of EIM GP is 40 West 57th Street, New York, New York 10019.
 
The principal business of EIM GP is serving as a general partner of EIM.
 
The name, business address, and present principal occupation or employment of the managing member of EIM GP is as follows:
 
NAME ADDRESS OCCUPATION
     
Paul E. Singer 40 West 57th St.
New York, New York 10019
Sole managing member of EIM GP.
     
SINGER
 
Singer's business address is 40 West 57th Street, New York, New York 10019.
 
Singer's principal business is to serve as the sole managing member of EIM GP.
           

 

CUSIP No. 05580M108Schedule 13D/APage 4 of 5 Pages

 

 

(d) and (e) During the last five years, none of the persons or entities listed above has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
 
(f) See Item 2(a)-(c) above.  Singer is a citizen of the United States of America.
 
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
   
Item 3 is hereby amended and restated as follows:
 
 

The aggregate purchase price of the shares of Common Stock reported herein is approximately $13,371,179.

 

The Reporting Person may effect purchases of the shares of Common Stock through margin accounts maintained for the Elliott Funds with prime brokers, which extend margin credit as and when required to open or carry positions in their margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms' credit policies. Positions in the shares of Common Stock may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase the shares of Common Stock.

   
Item 5. PURPOSE OF TRANSACTION
   
Items 5(a)-(d) are hereby amended and restated as follows:
   
(a)        See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentage of the shares of Common Stock beneficially owned by the Reporting Person. The aggregate percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based upon 26,939,703 shares of Common Stock outstanding, which is the total number of shares of Common Stock outstanding as of December 4, 2019, as reported in the Issuer's Rule 424(b)(5) prospectus, filed with the Securities and Exchange Commission on December 5, 2019.
 
(b)        See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which the Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
 
(c)        The transactions in the shares of Common Stock effected on behalf of the Elliott Funds and/or their respective subsidiaries since the filing of Amendment No. 5, which were all in the open market, are set forth on Schedule 1 attached hereto.
 
(d)        No persons other than the Elliott Funds and EIM have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock beneficially owned by EIM.
     

 

 

CUSIP No. 05580M108Schedule 13D/APage 5 of 5 Pages

SIGNATURES

After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATE: January 13, 2020

 

Elliott Investment Management L.P.    
     
/s/ Elliot Greenberg    
Name: Elliot Greenberg    
Title: Vice President    

 

 
 

SCHEDULE 1

 

Transactions Effected Since the Filing of Amendment No. 5

 

The following transactions in the Common Stock were effected on behalf of the Elliott Funds or their respective subsidiaries since the filing of Amendment No. 5:

 

Date Amount of Shs.
Bought / (Sold)
Approx. price ($)
per Share
12/20/2019 (351) 27.50
12/18/2019 (9,799) 27.90
12/16/2019 (2,594) 28.05
12/12/2019 (3,000) 28.01
12/11/2019 (1,421) 28.01
12/06/2019 (15,522) 28.13
12/05/2019 (24,908) 28.18
11/29/2019 (18,780) 29.28
11/27/2019 (3,939) 29.00
11/27/2019 (900) 29.03
11/26/2019 (6,600) 29.16
11/26/2019 (2,236) 29.25
11/25/2019 (35,715) 29.38