B. Riley Financial Closes Upsized $65 Million Typical Stock Providing Including Total Workout of Underwriter Possibility

LOS ANGELES, Jan. 15, 2021 /PRNewswire/ — B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley” or the “Company”) right now declared that it has shut an underwritten registered community offering of 1,413,045 shares of its frequent stock, which integrated 184,310 shares issued in link with the underwriter’s selection to order supplemental […]

LOS ANGELES, Jan. 15, 2021 /PRNewswire/ — B. Riley Financial, Inc. (NASDAQ: RILY) (“B. Riley” or the “Company”) right now declared that it has shut an underwritten registered community offering of 1,413,045 shares of its frequent stock, which integrated 184,310 shares issued in link with the underwriter’s selection to order supplemental shares, at a cost to the community of $46.00 for each share (the “Offering”), for gross proceeds of close to $65. million, ahead of deducting underwriting savings and commissions and believed offering expenditures payable by the Enterprise. Specified of the Firm’s officers, directors and workforce obtained an mixture of 149,670 shares in the supplying at the community giving price tag.



The featuring resulted in web proceeds of close to $61.4 million following deducting underwriting discounts and commissions, but prior to charges. The Firm expects to use the internet proceeds of this presenting for common company needs, like funding foreseeable future acquisitions and investments, generating capital expenditures and funding functioning funds.

B. Riley Securities, Inc. acted as sole e book-operating supervisor for the giving.

The NBD Team acted as authorized counsel to the Corporation. Duane Morris LLP acted as lawful counsel to the underwriter.

The shares of typical inventory had been offered less than the Company’s shelf registration assertion on Variety S-3, which was declared successful by the Securities and Exchange Commission (“SEC”) on February 24, 2020. The providing was produced only by implies of a prospectus dietary supplement and accompanying foundation prospectus.

Copies of the prospectus nutritional supplement and the accompanying foundation prospectus may perhaps be acquired on the SEC’s website at www.sec.gov, or by getting in contact with B. Riley Securities by telephone at (703) 312-9580, or by emailing [email protected].

This press launch does not represent an provide to market or the solicitation of an offer you to purchase, nor shall there be any sale of these securities in any condition or jurisdiction in which this kind of offer, sale or solicitation would not be permitted.

About B. Riley Economic, Inc. (NASDAQ: RILY)
B. Riley Fiscal, Inc. offers collaborative financial companies solutions tailor-made to match the money raising, enterprise, operational, and economical advisory desires of its customers and associates. B. Riley operates by means of several subsidiaries which supply a assorted array of complementary conclude-to-finish abilities spanning expenditure banking and institutional brokerage, personal wealth and investment decision administration, company advisory, restructuring, due diligence, forensic accounting, litigation support, appraisal and valuation, and auction and liquidation services. Particular registered affiliates of B. Riley originate and underwrite senior secured financial loans for asset-wealthy businesses. B. Riley also will make proprietary investments in companies and property with eye-catching return profiles.

Forward-Looking Statements
Statements in this press launch that are not descriptions of historical specifics are forward-looking statements that are centered on management’s present expectations and assumptions and are matter to risks and uncertainties. If these risks or uncertainties materialize or this kind of assumptions establish incorrect, our organization, running effects, financial issue and inventory value could be materially negatively impacted. You should really not location undue reliance on these types of forward-seeking statements, which are centered on the details at the moment readily available to us and converse only as of the day of this press launch. This kind of forward searching statements incorporate, but are not limited to, statements with regards to the conditions and ailments and timing of the widespread inventory giving and the supposed use of proceeds. Simply because these ahead-hunting statements involve recognised and unfamiliar dangers and uncertainties, there are vital components that could lead to real success, activities or developments to vary materially from those expressed or implied by these ahead-searching statements. Components that could result in genuine effects to differ include (without limitation) the possibility that the popular inventory supplying will not be consummated at the envisioned time, on the predicted phrases, or at all and the Firm’s fiscal overall performance and those threats explained from time to time in B. Riley’s periodic filings with the SEC, including, with no limitation, the threats described in B. Riley’s Once-a-year Report on Variety 10-K for the calendar year ended December 31, 2019 below the captions “Risk Factors” and “Management’s Discussion and Evaluation of Economic Problem and Outcomes of Functions.” Additional information is also established forth in our Quarterly Reviews on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020. These variables should really be regarded thoroughly, and audience are cautioned not to area undue reliance on this kind of ahead-wanting statements. All information is present as of the day this push release is issued, and B. Riley undertakes no duty to update this data.

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Resource B. Riley Monetary

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