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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Tuesday, July 14, 1:20 AM

Slide #35. 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 and its subsidiaries provide investment banking and financial services to corporate, institutional and high net worth clients, and asset disposition, valuation and appraisal and capital advisory services to a range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional services firms throughout the U.S., Australia, Canada, and Europe. Co. also provides consumer Internet access and related subscription services. Co.'s operating segments are: Capital Markets, Auction and Liquidation, Valuation and Appraisal, and Principal Investments - United Online and magicJack.
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Name:  B Riley Financial Inc
Website:  www.brileyfin.com
Sector:  Investment Brokerages
Number of ETFs Holding RILY:  19 (see which ones)
Total Market Value Held by ETFs:  $32,883,550
Total Market Capitalization:  $552,000,000
% of Market Cap. Held by ETFs:  5.96%
 

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