87.5 F
San Fernando
Tuesday, Nov 28, 2023

B. Riley Completes $100 Million Debt Offering

B. Riley Financial Inc. has closed a public offering of $100 million in senior notes, the Woodland Hills company announced Tuesday. The notes carry an interest rate of nearly 6.88 percent and come due in 2023. “The offering resulted in net proceeds of approximately $96.9 million after deducting underwriting discounts and commissions, but before expenses,” B. Riley said in its announcement. “The company intends to use the remaining net proceeds of this offering for general corporate purposes.” B. Riley FBR, Janney Montgomery Scott, Ladenburg Thalmann and Incapital acted as book-running managers for the offering, and Wedbush Securities, William Blair and Tribal Capital Markets were co-managers. The company announced the results of the offering after market close. Shares of B. Riley (RILY) closed Tuesday down 15 cents, or a fraction of a percent, to $21.70 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

Featured Articles

Related Articles