B. Riley Financial Inc. launched a public offering of $50 million of senior notes due 2026.
The company expects to grant the underwriters a 30-day option to buy additional senior notes under the offering, solely to cover overallotments.
B. Riley Financial plans to use the net proceeds from the offering to redeem all or a portion of its existing 7.50% senior notes due 2021 and for general corporate purposes, including funding future acquisitions and investments, repaying debts, making capital expenditures and funding working capital.
B. Riley FBR, Janney Montgomery Scott, Ladenburg Thalmann and Incapital are the book-running managers for the latest offering. Wedbush Securities, William Blair and Boenning & Scattergood are the co-managers.
