B. Riley Financial greenshoe ups 6.75% $25-par notes to $100 million

By Wendy Van Sickle

Columbus, Ohio, May 7 – Underwriters for B. Riley Financial, Inc.’s 6.75% $25-par senior notes due May 31, 2024 fully exercised their $13 million greenshoe, increasing the total issue size to $100 million, according to a press release issued Tuesday.

The company priced an upsized $87 million of the notes at par on Thursday, as previously reported.

The deal was upsized from an initial $50 million.

B. Riley FBR Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and Incapital LLC are the joint bookrunners.

The notes are redeemable on or after May 31, 2021 and prior to May 31, 2022 at $25.50 per note, on or after May 31, 2022 and prior to May 31, 2023 at $25.25 per note and on or after May 31, 2023 at par.

B. Riley Financial plans to use the proceeds for general corporate purposes.

The company plans to list the notes on the Nasdaq Global Market under the symbol “RILYO.”

B. Riley Financial is a Woodland Hills, Calif.-based financial services provider.

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