10:54 AM EDT, 08/28/2024 (MT Newswires) -- B. Riley Financial's ( RILY ) lenders have given the company additional time to file an overdue financial report, Bloomberg reported Wednesday, citing sources familiar with the matter.

The banks have put aside requirements for the company to file the financial statements within 45 days after the end of the recent quarter, avoiding a potential default on the loans, the report said.

The additional time is being used to hold talks on amendments to the company's loan agreements that would give it more flexibility, the report said, adding that most of the company's $2.16 billion of loans are due to be repaid in less than four years.

Bloomberg said a B. Riley representative declined to comment. The company didn't immediately respond to a request for comment from MT Newswires.

B. Riley said Friday that it received a notice from Nasdaq stating that it's not in compliance with the stock exchange's listing rules due to the delayed filing of its quarterly report for the period ended June 30 with the Securities and Exchange Commission.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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