B. Riley Financial Prices $275 Million Offering of Senior Notes Due 2028

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[{"type":"text","content":"LOS ANGELES, Aug. 4, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\") today announced it has priced an underwritten registered public offering of $275 million aggregate principal amount of 5.25% senior notes due 2028. The Company has granted the underwriters a 30-day option to purchase up to an additional $41.25 million aggregate principal amount of senior notes in connection with the offering. The offering is expected to close on August 6, 2021, subject to customary closing conditions.\n\n \n \n \n \n \n \n\n \nB. Riley Financial and this issuance of notes both received an investment grade rating of BBB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied to list the notes on NASDAQ under the symbol \"RILYZ\" and expects the notes to begin trading within 30 business days of the closing date of this offering, if approved.\nThe Company expects to use the net proceeds from the sale of the notes for general corporate purposes, including funding future acquisitions and investments, repaying indebtedness (which may, at the Company's option, include redeeming all or a portion of our existing 7.375% Senior Notes due 2023), making capital expenditures and funding working capital.\nB. Riley Securities, Janney Montgomery Scott, Ladenburg Thalmann, William Blair and InspereX are acting as book-running managers for this offering. EF Hutton, division of Benchmark Investments, LLC is acting as lead manager for this offering. Aegis Capital Corp., Boenning & Scattergood, Huntington Capital Markets, Maxim Group LLC, Newbridge Securities Corporation and Wedbush Securities are acting as co-managers.\nThe notes will be offered under the Company's shelf registration statement on Form S-3ASR, which was automatically effective upon filing with the Securities and Exchange Commission (\"SEC\") on January 28, 2021. The offering of these notes will be made only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the SEC. \nCopies of the 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 phone at (703) 312-9580, or by emailing [email protected]. \nThis press release shall not constitute an offer to sell or the so...

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