LOS ANGELES, March 4, 2014 /PRNewswire/ -- B. Riley &
Co., LLC, (B. Riley) www.brileyco.com, a leading independent
investment bank which provides a full array of corporate finance,
research, sales and trading services announced that it acted as
sole book-running manager in a $12.5
Million Underwritten Public Offering for WidePoint
Corporation (NYSE MKT: WYY).
The offering, which closed March 3,
2014, consisted of approximately 9 million shares of common
stock priced at $1.38 per share,
which included an overallotment of approximately 1.2 million shares
which the underwriter exercised in full.
B. Riley's Associate Chris Sigala, and Chairman Bryant Riley, led the banking team for this
transaction.
"WidePoint has had a long term relationship with B. Riley,
primarily because B. Riley has a keen understanding of our industry
sector," said WidePoint Chief Executive Officer Steve Komar. "Their relationships with
institutional investors who are interested in companies such as
ours have allowed us to both complete a successful capital raise as
well as gain introduction to new institutional investors."
"The B. Riley team's execution of this public offering was
flawless and completed in a very concentrated period; allowing us
to take advantage of opportune market timing," said James McCubbin, WidePoint's Chief Financial
Officer."
"We are pleased to have assisted WidePoint in this public
offering," said Bryant Riley,
Chairman of B. Riley. "As with other clients, we strive to align a
company's capital raising needs with the investment goals of our
institutional clients."
McLean, Virginia-based
WidePoint Corporation (www.widepoint.com) is a provider of secure,
cloud-delivered, enterprise-wide mobile and information
technology-based solutions that can enable enterprises and agencies
to deploy fully compliant IT services in accordance with government
mandated regulations and advanced system requirements.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About B. RILEY & CO.
B. Riley & Co. is a leading independent investment bank
which provides a full array of corporate finance, research, sales,
trading and otcqx dad services to corporate, institutional and high
net worth individual clients. Investment banking services include
merger and acquisitions advisory to public and private middle
market companies, initial and secondary public offerings and
institutional private placements. Its Corporate Governance Advisory
Services Group is engaged by both companies and investors to help
maximize value for shareholders. The firm is recognized for its
distinguished Equity Research. Founded in 1997, B. Riley is
headquartered in Los Angeles and
maintains offices in Newport
Beach, Del Mar,
San Francisco, and New York.
It is a member of FINRA and SIPC. For more information, please
visit www.brileyco.com
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SOURCE B. Riley & Co., LLC