The underwriters for B. Riley Financial Inc.'s 7.25% senior notes offering have fully exercised their option to buy an additional $10.5 million of notes.
The additional purchase increases the total principal amount of the notes sold by the company in the offering to $80.5 million.
The offering resulted in net proceeds of about $78.0 million after deducting underwriting discounts and commissions, but before expenses. The company intends to use the net proceeds 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.