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The Irish Sun
23-06-2025
- Automotive
- The Irish Sun
Mum, dad and teen son die in motorway horror crash on way back from holiday – leaving behind eight-year-old girl
A DAD, mum and son tragically died in a horrific motorway crash last month while they were on the way back home from a holiday. Andy Moore and Swala Harding died alongside their 14-year-old son Sebastian in the horrific single-vehicle collision on Friday, May 30, while on the M5 between Junction 14 and Michaelwood Services. They had been travelling home from a family holiday in Cornwall along with their daughter, 8, who "miraculously" survived the crash with serious, but not life-threatening, injuries. A fundraiser has been setup in the family's memory by a close friend, with more than £13,000 being donated so far to help Andy and Swala's daughter through recovery. Funds are also being raised to help contribute to her parents' and brother's funeral. The GoFundMe page reads: "On Friday 30th May, our dear friends Andy, Swala and their 14-year-old son Sebastian tragically passed away having been involved in a car accident whilst travelling back from a family holiday in Cornwall. "The family sadly leave behind their beloved eight-year-old daughter, who miraculously survived the accident. "To help their lovely little girl adapt to her new future, and help contribute towards the cost of her parents and brother's funeral, we're asking if people would help us raise some money to make her life that little bit easier." More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Most read in The Sun Like us on Facebook at 1 Swala Harding, Andy Moore and Sebastian Moore all died in the single-vehicle collision on Friday, May 30 Credit: GoFundMe
The Sun
23-06-2025
- Automotive
- The Sun
Mum, dad and teen son die in motorway horror crash on way back from holiday – leaving behind eight-year-old girl
A DAD, mum and son tragically died in a horrific motorway crash last month while they were on the way back home from a holiday. Andy Moore and Swala Harding died alongside their 14-year-old son Sebastian in the horrific single-vehicle collision on Friday, May 30, while on the M5 between Junction 14 and Michaelwood Services. They had been travelling home from a family holiday in Cornwall along with their daughter, 8, who "miraculously" survived the crash with serious, but not life-threatening, injuries. A fundraiser has been setup in the family's memory by a close friend, with more than £13,000 being donated so far to help Andy and Swala's daughter through recovery. Funds are also being raised to help contribute to her parents' and brother's funeral. The GoFundMe page reads: "On Friday 30th May, our dear friends Andy, Swala and their 14-year-old son Sebastian tragically passed away having been involved in a car accident whilst travelling back from a family holiday in Cornwall. "The family sadly leave behind their beloved eight-year-old daughter, who miraculously survived the accident. "To help their lovely little girl adapt to her new future, and help contribute towards the cost of her parents and brother's funeral, we're asking if people would help us raise some money to make her life that little bit easier." More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at and follow us from our main Twitter account at @TheSun. 1
Daily Mail
23-06-2025
- Automotive
- Daily Mail
EXCLUSIVE Eight-year-old girl is orphaned after her parents and brother are killed in motorway horror crash
An eight-year-old girl has been left orphaned and seriously injured after her parents and brother were killed in a horrific motorway crash on the way home from a family holiday. Andy Moore, 46, his partner Swala Harling, 47, and their son Sebastian Moore, 14, died when their BMW came off the M5 near Gloucester on May 30. Their eight-year-old daughter, who was also in the car, survived and is now being cared for by relatives. The family had been returning to their home in Clay Cross, Derbyshire, after a trip to Cornwall. Friends have since launched a GoFundMe page to help cover funeral costs and support the little girl in her recovery. Rich Hardy, 46, who has been friends with mechanic Andy since they met at secondary school in Chesterfield, paid tribute. He said: 'It's devastating. Andy has been my best mate for the last 36 years, he was a constant joker with a dark sense of humour but he is the sort of person who would always be there for you no matter what. 'Swala was quiet but an absolute genuine person and an absolute brilliant mum, they were always together doing things as a family. They had been together for around 20 years. 'Sebastian was a big rugby fan, he had inherited his dad's sarcastic side. 'I remember he broke my ribs at Christmas just play fighting because he was a lot stronger than he thought he was. 'They had been planning to drive home from Cornwall the next day but left early to beat the traffic. We are a group of six friends and were having a laugh and a joke in our WhatsApp and then a couple of days after it happened I got the news and it just knocked me off my feet.' Sebastian — known to friends as Seb — played for Chesterfield Panthers rugby club's Under-15s squad, having joined at the start of the season. In a tribute posted on Facebook, the club said: 'Seb and Andy became part of our club like they had always been with us — respected by teammates, coaches and parents alike. 'Seb was a kind, calm and friendly young man, always willing to listen, always with a smile, and always giving his best for the team. 'Andy's presence on the sidelines and around the club was just as valued — warm, supportive and easy to talk to. 'He was a lovely man and a true gentleman who, like his son, became part of our club in the most natural and meaningful way. Both Seb and Andy left a lasting impression on everyone who met them, and their loss is deeply felt by all of us. 'Swala's passing is equally heartbreaking. Though not as closely involved at the club, it is clear how much love and warmth she brought to her family, and how deeply missed she will be by those who knew her.' An inquest opened last week at Flax Bourton, near Bristol, heard that Andy had been driving the vehicle, with Swala — who worked in IT — in the front passenger seat and Sebastian in the rear. Police closed the M5 for most of the following day to carry out an investigation at what was described as a 'very complex scene'. A full inquest will take place at a later date. Following the crash, Inspector Mark Vicary, of Avon and Somerset Police, said: 'Our thoughts first and foremost are with the child in hospital and loved ones who have received the most awful news overnight. A specially-trained officer will provide them with support at this difficult time.' Explaining why he set up the fundraiser - which has already raised nearly £14,000 - Rich, 46, added: 'We are just focussed in doing our best for that little girl because I know if it was the other way around he would be doing exactly the same for us.'
Malaysian Reserve
19-05-2025
- Business
- Malaysian Reserve
B. Riley Securities Provides Business and Financial Update Following Carve-Out Transaction
LOS ANGELES, May 19, 2025 /PRNewswire/ — B. Riley Securities Holdings, Inc. ('B. Riley Securities,' 'BRS' or the 'Company'), a leading middle market investment bank, today provided a business and financial update following its previously announced carve-out transaction with B. Riley Financial, Inc. ('BRF'), and in anticipation of BRS' future filings of financial statements and quotation on the OTC Markets. Andy Moore, Chairman and Co-CEO, B. Riley Securities, stated:'We remain relentlessly focused on delivering for our clients. With our previously announced carve-out from BRF, we are able to provide greater financial transparency and a clearer view into the underlying strength of our business. We are committed to providing our stakeholders with increased visibility into our strategy and vision for value creation. Although transactional activity has been tempered by macro uncertainty, volatility has often presented compelling opportunities for us to gain market share with differentiated, client-focused execution. As a trusted partner to middle market companies and those who invest in them, we take a long-term view in positioning BRS for sustainable growth and maximizing shareholder value.' Jimmy Baker, Co-CEO & Head of Capital Markets at B. Riley Securities, commented:'We are proud of how our team navigated a challenging 2024. Over the course of last year, we raised $16.5 billion in debt and equity on behalf of our clients and expanded our capabilities in key areas including Convertibles and Liability Management. In addition, our advisory practice is now more closely aligned with our core clients' interests with a sharpened strategic focus on Capital Markets. We have also continued to invest in talent across Equity Research, Sales & Trading, and Investment Banking. It will take time for the full impact of our previously announced carve-out and the contribution of our new team members to materialize in our financial results. Our focus remains firmly on long-term value creation and making BRS a destination for top middle market talent while creating opportunities for growth and leadership within our firm.' Adjusted Year 2024 Financial HighlightsOn an adjusted basis, BRS delivered total revenue of $217.7 million, adjusted net revenue of $211.0 million, a net loss of $14.5 million, and adjusted net income of $33.1 million. The adjusted basis referred to gives effect to the March 2025 contributions of Cascadia Investments Inc. (OTCMKTS: CDIV) and other subsidiaries to BRS as part of the carve-out, as if those contributions had been completed on January 1, 2024. For a reconciliation of non-GAAP measures to their corresponding GAAP measures and additional disclosures, see 'Note Regarding Use of Non-GAAP Financial Measures' and the tables below. In January 2025, the Company repaid all $12.4 million of its outstanding debt. Reflecting primarily the impact of pre-carve out distributions to BRF, losses pertaining to a legacy investment, cash use in connection with year-end compensation and repayment of debt as discussed above, BRS stands completely debt-free with $68 million in cash and securities owned as of the carve-out effective date. About B. Riley Securities (BRS)BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities of its end-to-end financial services platform. For more information, visit Note Regarding Use of Non-GAAP Financial MeasuresCertain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of 'regular way' fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of 'regular way' fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles ('GAAP'). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Balance Sheet as of December 31, 2024 (Unaudited) (in thousands) B. Riley Securities,Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Assets: Cash and cash equivalents $ 40,926 $ 1,213 $ 42,139 Receivables 70,006 (36,298) 33,708 Securities borrowed 43,022 – 43,022 Securities owned, at fair value 77,758 938 78,696 Operating lease right of use asset 6,884 1,721 8,605 Goodwill and intangibles 113,914 24,990 138,904 Property and equipment, net 2,049 – 2,049 Prepaid expenses and other assets 2,387 – 2,387 Total assets $ 356,946 $ (7,436) $ 349,510 Liabilities: Securities loaned $ 27,942 $ – $ 27,942 Financial instruments sold, not yet purchased, at fair value 5,675 – 5,675 Note payable 12,379 – 12,379 Accrued compensation and benefits 26,822 253 27,075 Accounts payable and accrued expenses 16,021 (1,279) 14,742 Operating lease liabilities 8,293 2,288 10,581 Total liabilities 97,132 1,262 98,394 Equity 259,814 (8,698) 251,116 Total liabilities & equity $ 356,946 $ (7,436) $ 349,510 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to B. Riley Securities Holdings, Inc. as if the March 2025 contribution was made on December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Statements of Operations Year Ended December 31, 2024 (Unaudited) (in thousands) B. Riley Securities, Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Revenues Investment banking: $ 146,887 $ 7,045 $ 153,932 Institutional brokerage (18,824) (556) (19,380) Interest 78,229 76 78,305 Other income 3,866 945 4,811 Total revenues $ 210,158 $ 7,510 $ 217,668 Expenses Compensation and benefits $ 117,745 $ 1,363 $ 119,108 Interest 66,518 – 66,518 Other operating expenses 47,947 3,456 51,403 Total expenses 232,210 4,819 237,029 Operating net income (loss) (22,052) 2,691 (19,361) Other income/expense – (515) (515) Net income (loss) before income taxes (22,052) 2,176 (19,876) Income tax (benefit) expense (5,954) 587 (5,367) Net income (loss) $ (16,098) $ 1,589 $ (14,509) 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Reconciliation of GAAP to Adjusted Full Year 2024 Results (Unaudited) (in thousands) B. Riley Securities, Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Reconciliation of GAAP to adjusted financials: GAAP revenue $ 210,158 $ 7,510 $ 217,668 Adjustments: Legacy positions losses (gains) (3) 59,182 556 59,738 Loans at fair value 63 – 63 Committed equity facility gains (losses) – (515) (515) Total adjustments 59,245 41 59,286 Adjusted revenue 269,403 7,551 276,954 Securities lending interest expense (65,939) – (65,939) Adjusted net revenue (a non-GAAP figure) $ 203,464 $ 7,551 $ 211,015 Net income $ (16,098) $ 1,589 $ (14,509) Adjustments: Fair value adjustment of contingent acquisition consideration (379) – (379) Share based compensation 5,757 – 5,757 Legacy positions losses (gains) (3) 59,182 556 59,738 Loans at fair value 63 – 63 Income tax-effect of above non-GAAP adjustments and certain discrete tax items (17,448) (150) (17,598) Adjusted net income $ 31,077 $ 1,995 $ 33,072 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. 3) Legacy investment positions held at BRS that are not, following the carve-out, part of BRS' go-forward strategy. Contact:Jo Anne McCuskerB. Riley Securitiespress@
Yahoo
19-05-2025
- Business
- Yahoo
B. Riley Securities Provides Business and Financial Update Following Carve-Out Transaction
LOS ANGELES, May 19, 2025 /PRNewswire/ -- B. Riley Securities Holdings, Inc. ("B. Riley Securities," "BRS" or the "Company"), a leading middle market investment bank, today provided a business and financial update following its previously announced carve-out transaction with B. Riley Financial, Inc. ("BRF"), and in anticipation of BRS' future filings of financial statements and quotation on the OTC Markets. Andy Moore, Chairman and Co-CEO, B. Riley Securities, stated:"We remain relentlessly focused on delivering for our clients. With our previously announced carve-out from BRF, we are able to provide greater financial transparency and a clearer view into the underlying strength of our business. We are committed to providing our stakeholders with increased visibility into our strategy and vision for value creation. Although transactional activity has been tempered by macro uncertainty, volatility has often presented compelling opportunities for us to gain market share with differentiated, client-focused execution. As a trusted partner to middle market companies and those who invest in them, we take a long-term view in positioning BRS for sustainable growth and maximizing shareholder value." Jimmy Baker, Co-CEO & Head of Capital Markets at B. Riley Securities, commented:"We are proud of how our team navigated a challenging 2024. Over the course of last year, we raised $16.5 billion in debt and equity on behalf of our clients and expanded our capabilities in key areas including Convertibles and Liability Management. In addition, our advisory practice is now more closely aligned with our core clients' interests with a sharpened strategic focus on Capital Markets. We have also continued to invest in talent across Equity Research, Sales & Trading, and Investment Banking. It will take time for the full impact of our previously announced carve-out and the contribution of our new team members to materialize in our financial results. Our focus remains firmly on long-term value creation and making BRS a destination for top middle market talent while creating opportunities for growth and leadership within our firm." Adjusted Year 2024 Financial HighlightsOn an adjusted basis, BRS delivered total revenue of $217.7 million, adjusted net revenue of $211.0 million, a net loss of $14.5 million, and adjusted net income of $33.1 million. The adjusted basis referred to gives effect to the March 2025 contributions of Cascadia Investments Inc. (OTCMKTS: CDIV) and other subsidiaries to BRS as part of the carve-out, as if those contributions had been completed on January 1, 2024. For a reconciliation of non-GAAP measures to their corresponding GAAP measures and additional disclosures, see "Note Regarding Use of Non-GAAP Financial Measures" and the tables below. In January 2025, the Company repaid all $12.4 million of its outstanding debt. Reflecting primarily the impact of pre-carve out distributions to BRF, losses pertaining to a legacy investment, cash use in connection with year-end compensation and repayment of debt as discussed above, BRS stands completely debt-free with $68 million in cash and securities owned as of the carve-out effective date. About B. Riley Securities (BRS)BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities of its end-to-end financial services platform. For more information, visit Note Regarding Use of Non-GAAP Financial MeasuresCertain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of "regular way" fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of "regular way" fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles ("GAAP"). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Balance Sheet as of December 31, 2024 (Unaudited) (in thousands) B. Riley Securities,Inc. (1)Other wholly owned unaudited subsidiaries (2)As AdjustedB. Riley Securities Holdings, Cash and cash equivalents$ 40,926$ 1,213$ 42,139 Receivables70,006(36,298)33,708 Securities borrowed43,022-43,022 Securities owned, at fair value77,75893878,696 Operating lease right of use asset6,8841,7218,605 Goodwill and intangibles113,91424,990138,904 Property and equipment, net2,049-2,049 Prepaid expenses and other assets2,387-2,387 Total assets$ 356,946$ (7,436)$ 349,510 Liabilities: Securities loaned$ 27,942$ -$ 27,942 Financial instruments sold, not yet purchased, at fair value5,675-5,675 Note payable12,379-12,379 Accrued compensation and benefits26,82225327,075 Accounts payable and accrued expenses16,021(1,279)14,742 Operating lease liabilities8,2932,28810,581 Total liabilities97,1321,26298,394Equity259,814(8,698)251,116Total liabilities & equity$ 356,946$ (7,436)$ 349,5101) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to B. Riley Securities Holdings, Inc. as if the March 2025 contribution was made on December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Statements of Operations Year Ended December 31, 2024 (Unaudited) (in thousands) B. Riley Securities, Inc. (1)Other wholly owned unaudited subsidiaries (2)As AdjustedB. Riley Securities Holdings, Inc. Revenues Investment banking:$ 146,887$ 7,045$ 153,932 Institutional brokerage(18,824)(556)(19,380) Interest78,2297678,305 Other income3,8669454,811 Total revenues$ 210,158$ 7,510$ 217,668Expenses Compensation and benefits$ 117,745$ 1,363$ 119,108 Interest66,518-66,518 Other operating expenses47,9473,45651,403 Total expenses232,2104,819237,029 Operating net income (loss)(22,052)2,691(19,361)Other income/expense-(515)(515) Net income (loss) before income taxes(22,052)2,176(19,876) Income tax (benefit) expense(5,954)587(5,367) Net income (loss)$ (16,098)$ 1,589$ (14,509)1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Reconciliation of GAAP to Adjusted Full Year 2024 Results (Unaudited) (in thousands) B. Riley Securities, Inc. (1)Other wholly owned unaudited subsidiaries (2)As AdjustedB. Riley Securities Holdings, Inc. Reconciliation of GAAP to adjusted financials: GAAP revenue$ 210,158$ 7,510$ 217,668Adjustments: Legacy positions losses (gains) (3)59,18255659,738 Loans at fair value63-63 Committed equity facility gains (losses)-(515)(515) Total adjustments59,2454159,286 Adjusted revenue269,4037,551276,954 Securities lending interest expense(65,939)-(65,939) Adjusted net revenue (a non-GAAP figure)$ 203,464$ 7,551$ 211,015Net income$ (16,098)$ 1,589$ (14,509)Adjustments: Fair value adjustment of contingent acquisition consideration(379)-(379) Share based compensation5,757-5,757 Legacy positions losses (gains) (3)59,18255659,738 Loans at fair value63-63 Income tax-effect of above non-GAAP adjustments and certain discrete tax items(17,448)(150)(17,598) Adjusted net income$ 31,077$ 1,995$ 33,0721) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. 3) Legacy investment positions held at BRS that are not, following the carve-out, part of BRS' go-forward strategy. Contact:Jo Anne McCuskerB. Riley Securitiespress@ View original content to download multimedia: SOURCE B. Riley Securities Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
