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B. Riley Financial closes note offering

B. Riley Financial Inc. has closed an underwritten registered public offering of $70.0 million of 7.25% senior notes due 2027.

The company gave underwriters a 30-day option to buy up to about $10.5 million of notes.

Net proceeds from the offering were about $67.8 million after deducting underwriting discounts and commissions but before expenses. The net proceeds from the offering will be used for general corporate purposes.

B. Riley FBR Inc., Incapital LLC, and Ladenburg Thalmann & Co. Inc. are acting as book-running managers for the offering, and Boenning & Scattergood Inc., Wedbush Securities Inc. and William Blair & Co. LLC are acting as co-managers.