SCHEDULE: B. Riley Financial Reduces TransAct Technologies Stake

B. Riley Financial and its affiliates have reduced their beneficial ownership in TransAct Technologies Inc. to 5.9% through recent share sales.

Summary

• B. Riley Financial, Inc. and its affiliates, including BRF Investments, LLC and B. Riley Securities, Inc., along with Bryant R. Riley, collectively beneficially own 600,010 shares of TransAct Technologies Inc. common stock.
• This represents 5.9% of TransAct Technologies' outstanding common stock, based on 10,092,326 shares as of July 31, 2025, as reported in the Issuer's 10-Q.
• BRF Investments, LLC engaged in multiple sales of TransAct Technologies common stock during August and September 2025, totaling 326,765 shares.
• The sales by BRF Investments, LLC occurred at prices ranging from $4.1901 to $4.5000 per share.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to the significant reduction in stake by a major institutional investor, which could be interpreted as a loss of conviction or a strategic divestment. However, the remaining stake is still above the 5% threshold, indicating continued, albeit reduced, interest.

Positives

• The reporting persons maintain a significant, albeit reduced, stake in TransAct Technologies, indicating continued interest above the 5% reporting threshold.

Negatives

• B. Riley Financial, through BRF Investments, LLC, has significantly reduced its holdings in TransAct Technologies by selling 326,765 shares over the past 60 days.
• This reduction in stake by a major institutional investor could signal a change in investment strategy or conviction regarding TransAct Technologies.

Risks

• The reduction in ownership by a significant institutional investor like B. Riley Financial could be perceived negatively by the market, potentially impacting investor confidence in TransAct Technologies.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding TransAct Technologies Inc. or the reporting persons' future investment intentions beyond the current ownership disclosure.

Industry Context

This filing reflects a portfolio adjustment by a diversified financial services company, B. Riley Financial, in its stake in TransAct Technologies. Such adjustments are common among institutional investors and may not necessarily reflect broader industry trends for TransAct Technologies' specific sector, but rather B. Riley's internal investment strategy or capital allocation decisions.

Stakeholder Impact

• Shareholders: Existing shareholders of TransAct Technologies might view the reduction in B. Riley Financial's stake as a negative signal, potentially leading to downward pressure on the stock price.
• B. Riley Financial: The sales provide liquidity to B. Riley Financial and its affiliates, allowing for reallocation of capital.

Key Dates

Recommendation

While a significant institutional investor has reduced its stake, the remaining ownership is still substantial. The filing itself does not provide new fundamental information about TransAct Technologies' operations or financial health, only a change in a specific investor's position. Investors should monitor TransAct Technologies' performance and B. Riley Financial's future actions, but a 'hold' is appropriate given the lack of new operational data.

Keywords

TransAct Technologies, B. Riley Financial, Schedule 13D, Share Ownership, Institutional Investor, Equity Stake, Common Stock, Investment Management