Cascadia Investments completed the merger with B. Riley Securities.

Cascadia Investments, a shell entity, completed the merger with B. Riley Securities, the investment banking subsidiary of B. Riley Financial. Financial terms were not disclosed. "BRS has been the foundation of our firm's success ever since we started a smaller broker dealer focused on small cap companies in 1997. Through this transaction, we are enabling the leadership team of BRS to return to those roots, operate separately and execute a distinct growth strategy. As we demonstrated at our 2023 Investor Day, BRS has historically delivered steady EBITDA and strong cash flow, and we expect that as a separate entity, the firm will be able to return to and eventually exceed those levels of growth and profitability. Through BRF's 89% ownership stake, BRF shareholders will retain important upside potential as BRS capitalizes on an expected recovery in M&A and Capital Markets activity," Bryant Riley, B. Riley Financial Chairman and Co-CEO.