B. Riley Financial Inc. filed a registration statement for a primary offering of certain securities by the company and a secondary offering of common shares by certain selling stockholders.
The company plans to offer up to $100 million of securities from time to time. These securities include common stock; preferred stock; warrants exercisable for debt securities, common stock or preferred stock; debt securities; and units of common stock, preferred stock, warrants or debt securities, in any combination.
Additionally, the selling stockholders are offering 365,965 common shares of B. Riley in a secondary offering.
The company will not receive any proceeds from the resale of common shares by the selling stockholders. However, it will receive proceeds of at least $1.2 million if all the warrants for which the underlying shares being registered in the shelf registration statement are exercised.
The company plans to use the net proceeds from the offering for capital expenditures, working capital and other general corporate purposes. Pending any specific application, the company may initially invest the net proceeds in short-term marketable securities.
