Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent Sales of Unregistered Securities
During the three months ended March 31, 2026, the Company completed a series of Section 3(a)(9) Exchanges on February 6, 2026, February 27, 2026, March 10, 2026, March 13, 2026 and March 26, 2026 with the Investor whereby the Company issued an aggregate of 4,553,866 shares of its common stock in exchange for an aggregate of 440,086 units of 5.50% Senior Notes due 2026 (RILYK), 454,159 units of 6.50% Senior Notes due 2026 (RILYN), 107,306 units of 5.00% Senior Notes due 2026 (RILYG), 217,000 units of 5.25% Senior Notes due 2028 (RILYZ) and 225,000 units of 6.00% Senior Notes due 2028 (RILYT). The Investor owns more than five percent of the Company’s common stock. The shares of common stock were issued in reliance on the exemption from registration provided by Section 3(a)(9), as the securities were exchanged for the Company’s senior notes with an existing security holder and no commission or other remuneration was paid for soliciting the exchange.
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Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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