{"id":520671,"date":"2021-07-30T07:53:12","date_gmt":"2021-07-30T11:53:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones\/"},"modified":"2021-07-30T07:53:12","modified_gmt":"2021-07-30T11:53:12","slug":"b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones\/","title":{"rendered":"B. Riley Financial Announces Offering of $150 Million Senior Notes Due 2028 and &#8220;BBB+&#8221; Rating from Egan-Jones"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">LOS ANGELES<\/span>, <span class=\"xn-chron\">July 30, 2021<\/span> \/PRNewswire\/ &#8212; B. Riley Financial, Inc. (NASDAQ: RILY) (&#8220;B. Riley&#8221; or the &#8220;Company&#8221;) today announced it has commenced an underwritten registered public offering of <span class=\"xn-money\">$150 million<\/span> aggregate principal amount of senior notes due 2028, subject to market and certain other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1327114\/B_Riley_Financial_Logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1327114\/B_Riley_Financial_Logo.jpg\" title=\"(PRNewsfoto\/B. Riley Financial)\" alt=\"(PRNewsfoto\/B. Riley Financial)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>B. Riley Financial and this issuance of notes both received an investment grade rating of BBB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.<\/p>\n<p>The Company expects to use the net proceeds from the sale of the notes for general corporate purposes, including funding future acquisitions and investments, repaying indebtedness (which may, at the Company&#8217;s option, include redeeming all or a portion of our existing 7.375% Senior Notes due 2023), making capital expenditures and funding working capital.<\/p>\n<p>B. Riley Securities, <span class=\"xn-person\">Janney Montgomery Scott<\/span>, Ladenburg Thalmann and <span class=\"xn-person\">William Blair<\/span> are acting as book-running managers for this offering. EF Hutton, division of Benchmark Investments, LLC is acting as lead manager for this offering. Aegis Capital Corp., Boenning &amp; Scattergood, Huntington Capital Markets, InspereX, Maxim Group LLC, Newbridge Securities Corporation and Wedbush Securities are acting as co-managers.<\/p>\n<p>The notes will be offered under the Company&#8217;s shelf registration statement on Form S-3ASR, which was automatically effective upon filing with the Securities and Exchange Commission (&#8220;SEC&#8221;) on <span class=\"xn-chron\">January 28, 2021<\/span>. The offering of these notes will be made only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the SEC. <\/p>\n<p>Copies of the prospectus supplement and the accompanying base prospectus may be obtained on the SEC&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3244467-1&amp;h=4027681099&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov\" rel=\"nofollow noopener\">www.sec.gov<\/a>, or by contacting B. Riley Securities by phone at (703) 312-9580, or by emailing <a target=\"_blank\" href=\"mailto:prospectuses@brileyfin.com\" rel=\"nofollow noopener\">prospectuses@brileyfin.com<\/a><\/p>\n<p>This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.<\/p>\n<p>\n        <b>About B. Riley Financial<br \/><\/b>B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. <\/p>\n<p>\n        <b>Forward-Looking Statements<br \/><\/b>Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management&#8217;s current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the terms and conditions and timing of the senior notes offering and the intended use of proceeds. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ include (without limitation) the possibility that the notes offering will not be consummated at the expected time, on the expected terms, or at all; and those risks described from time to time in B. Riley&#8217;s periodic filings with the SEC, including, without limitation, the risks described in B. Riley&#8217;s Annual Report on Form 10-K for the year ended <span class=\"xn-chron\">December 31, 2020<\/span> and B. Riley&#8217;s Quarterly Report on Form 10-Q for the quarter ended <span class=\"xn-chron\">March 31, 2021<\/span> under the captions &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.&#8221; These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and B. Riley undertakes no duty to update this information.<\/p>\n<p>\n        <b>Contacts<\/b>\n      <\/p>\n<p>\n        <i>Investors<br \/><\/i><br \/>\n        <span class=\"xn-person\">Mike Frank<\/span><br \/>\n        <br \/>\n        <a target=\"_blank\" href=\"mailto:ir@brileyfin.com\" rel=\"nofollow noopener\">ir@brileyfin.com<\/a><br \/>\n        <br \/>(212) 409-2424<\/p>\n<p>\n        <i>Media<br \/><\/i><br \/>\n        <span class=\"xn-person\">Jo Anne McCusker<\/span><br \/>\n        <br \/>\n        <a target=\"_blank\" href=\"mailto:jmccusker@brileyfin.com\" rel=\"nofollow noopener\">jmccusker@brileyfin.com<\/a><br \/>\n        <br \/>(646) 885-5425<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA59877&amp;sd=2021-07-30\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones-301345078.html\">https:\/\/www.prnewswire.com\/news-releases\/b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones-301345078.html<\/a><\/p>\n<p>SOURCE  B. Riley Financial<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LA59877&amp;Transmission_Id=202107300750PR_NEWS_USPR_____LA59877&amp;DateId=20210730\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire LOS ANGELES, July 30, 2021 \/PRNewswire\/ &#8212; B. Riley Financial, Inc. (NASDAQ: RILY) (&#8220;B. Riley&#8221; or the &#8220;Company&#8221;) today announced it has commenced an underwritten registered public offering of $150 million aggregate principal amount of senior notes due 2028, subject to market and certain other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. B. Riley Financial and this issuance of notes both received an investment grade rating of BBB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company expects to use the net proceeds from the sale of the notes for general corporate purposes, including funding future acquisitions and investments, repaying indebtedness (which &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;B. Riley Financial Announces Offering of $150 Million Senior Notes Due 2028 and &#8220;BBB+&#8221; Rating from Egan-Jones&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-520671","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>B. Riley Financial Announces Offering of $150 Million Senior Notes Due 2028 and &quot;BBB+&quot; Rating from Egan-Jones - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/b-riley-financial-announces-offering-of-150-million-senior-notes-due-2028-and-bbb-rating-from-egan-jones\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B. Riley Financial Announces Offering of $150 Million Senior Notes Due 2028 and &quot;BBB+&quot; Rating from Egan-Jones - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LOS ANGELES, July 30, 2021 \/PRNewswire\/ &#8212; B. Riley Financial, Inc. (NASDAQ: RILY) (&#8220;B. Riley&#8221; or the &#8220;Company&#8221;) today announced it has commenced an underwritten registered public offering of $150 million aggregate principal amount of senior notes due 2028, subject to market and certain other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. B. Riley Financial and this issuance of notes both received an investment grade rating of BBB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company expects to use the net proceeds from the sale of the notes for general corporate purposes, including funding future acquisitions and investments, repaying indebtedness (which &hellip; Continue reading &quot;B. 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