By Cristal Cody
Tupelo, Miss., Dec. 6 – B. Riley Financial Inc. sold $70 million of 7.25% $25-par senior notes due Dec. 31, 2027 (Egan-Jones: A-) on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
There is a $10.5 million over-allotment option.
B. Riley FBR, Inc., Incapital LLC and Ladenburg Thalmann & Co. Inc. were the bookrunners.
The new securities will be listed on the Nasdaq exchange under the symbol “RILYG.”
Proceeds will be used for general corporate purposes.
B. Riley is a Los Angeles-based diversified financial services company.
| Issuer: | B. Riley Financial Inc.
|
| Amount: | $70 million
|
| Greenshoe: | $10.5 million
|
| Description: | Senior notes
|
| Maturity: | Dec. 31, 2027
|
| Bookrunners: | B. Riley FBR, Inc., Incapital LLC and Ladenburg Thalmann & Co. Inc.
|
| Co-managers: | Boenning & Scattergood, Inc., Wedbush Securities Inc., William Blair & Co., LLC
|
| Coupon: | 7.25%
|
| Price: | Par of $25.00
|
| Yield: | 7.25%
|
| Call features: | On or after Dec. 31, 2020
|
| Trade date: | Dec. 6
|
| Settlement date: | Dec. 13
|
| Rating: | Egan-Jones: A-
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: RILYG
|
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