09:14 AM EDT, 10/29/2024 (MT Newswires) -- B. Riley Financial ( RILY ) said Tuesday it and its bebe stores unit transferred and contributed their interests in certain brand assets to an unnamed securitization vehicle for roughly $236 million.

The company received about $189 million in net proceeds, while the unit sold its interests in the brand assets for approximately $47 million in net cash proceeds, B. Riley added.

The financial services company said it intends to use the proceeds for the payment of outstanding senior secured debt and deleverage its balance sheet.

B. Riley's stock rose 8.2% in recent Tuesday premarket activity.

Price: 6.09, Change: +0.46, Percent Change: +8.17