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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, April 19, 5:22 AM
Slide #151. B. Riley Financial, Inc. — Preferred Stock Offering
Company: |
B. Riley Financial, Inc. (NASDAQ:RILY) |
Date announced: |
10/2/2019 |
Shares Offered: |
2,000,000 |
Date of Pricing: |
10/2/2019 |
Price Per Share: |
$25.00 |
Preferred Stock Offering Details: |
B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today announced the pricing of its underwritten registered public offering of 2,000,000 depositary shares at an initial public offering price of $25.00 per depositary share, raising gross proceeds of $50 million before deducting underwriting discounts and other estimated offering expenses. Each depositary share represents a 1/1000th fractional interest in a share of the Company's 6.875% Series A Cumulative Perpetual Preferred Stock. Dividends on the Series A Preferred Stock underlying the depositary shares will be paid when declared by the Board at a fixed rate of 6.875% with a liquidation preference equivalent to $25.00 per depositary share. In connection with the offering, the Company has granted the underwriters a 30-day option to purchase up to an additional $7.5 million of depositary shares solely to cover overallotments. The offering is expected to close on or about October 7, 2019, subject to customary closing conditions. |
B. Riley Financial is a financial services platform and invests in companies or assets with risk-adjusted return profiles to benefit its shareholders. Through its affiliated subsidiaries, Co. provides a range of investment banking, corporate finance research, sales, and trading, as well as advisory, valuation, and wealth management, services. Co.'s operating segments include: Capital Markets, which provides a range of investment banking, corporate finance, financial advisory, research, securities lending and sales and trading services to corporate, institutional, and individual clients; and Wealth Management, which provides wealth management and tax services to corporate and clients. Preferreds: RILYP, RILYL
Open the RILY Page at Preferred Stock Channel »
Name: |
B Riley Financial Inc |
Website: |
www.brileyfin.com |
Sector: |
Investment Brokerages |
Number of ETFs Holding RILY: |
35 (see which ones) |
Total Market Value Held by ETFs: |
$77,078,316.52 |
Total Market Capitalization: |
$640,000,000 |
% of Market Cap. Held by ETFs: |
12.04% |
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Open the RILY Page at Preferred Stock Channel (in a new window) »
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