B. Riley Financial plans $39.625 million at-the-market offering of $25-par notes

By Stephanie N. Rotondo

Seattle, June 28 – B. Riley Financial Inc. is offering up to $39.625 million of its 7.5% $25-par senior notes due 2027 and 2021 (Nasdaq: RILYZ and RILYL) via an at-the-market sales agreement, the company said in a prospectus filed with the Securities and Exchange Commission on Wednesday.

FBR Capital Markets & Co. is the agent.

Proceeds will be used for general corporate purposes.

Interest on the 2027 paper is payable on a quarterly basis. The Woodland Hills, Calif.-based financial services company can redeem the issue on or after May 31, 2020 at par plus accrued interest.

As for the 2021 notes, interest is payable on a quarterly basis. The notes become redeemable on or after Oct. 31, 2018 at par plus accrued interest.

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