On January 10, 2021, B. Riley Financial, Inc announced that it, B. Riley Principal Merger Corp. III, and National Holdings Corporation entered into an agreement and plan of merger. B. Riley Financial stated that the merger agreement provides for the acquisition of the Company through a tender offer by B. Riley Financial for all of the issued and outstanding shares of common stock that are not beneficially owned by it and its subsidiaries for $3.25 per share of common stock in cash, without interest.