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B. Riley Financial launches debt offering

B. Riley Financial Inc. has commenced an underwritten registered public offering of $50 million of five-year senior notes, subject to market and certain other conditions.

The company expects to grant the underwriters an option to purchase additional senior notes to cover overallotments.

B. Riley plans to use a portion of the net proceeds to fund a part of its planned acquisition of Netanya, Israel-based magicJack VocalTec Ltd. The remaining net proceeds may be used for general corporate purposes.

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