Business
B. Riley Financial Announces Pricing of $100 Million Common Stock Offering
LOS ANGELES, July 26, 2023 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company"), a diversified financial services platform,
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"LOS ANGELES, July 26, 2023 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\"), a diversified financial services platform, today announced it has priced an underwritten public offering of 1,818,182 shares of its common stock (the \"Offering\") at a price of $55.00 per share. Certain of the Company's officers, directors, and employees have agreed to purchase, in the aggregate, approximately $7 million of shares of common stock in this Offering at the public offering price.\n\n \n \n \n \n \n \n\n \nB. Riley Securities is acting as sole book-running manager for the offering. The Company has granted the underwriter a 30-day option to purchase up to an additional 272,727 shares of its common stock in connection with the Offering.\nGross proceeds from this Offering, before deducting underwriting discounts and commissions and offering expenses, but excluding any exercise of the underwriter's option to purchase additional shares, are expected to be approximately $100 million. The Offering is expected to close on July 28, 2023, subject to the satisfaction of customary closing conditions.\nThe Offering is being made by means of a prospectus. A registration statement was previously filed by the Company with the SEC and became effective upon filing on January 28, 2021, and a preliminary prospectus supplement was filed on July 25, 2023. Copies of the preliminary prospectus supplement and the accompanying base prospectus may be obtained on the SEC's website at www.sec.gov, or by contacting B. Riley Securities by telephone at (703) 312-9580, or by emailing [email protected].\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout B. Riley FinancialB. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. B. Riley leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its affiliated subsidiaries, B. Riley ...