LOS ANGELES, Nov. 29, 2019 /PRNewswire/ -- B. Riley
Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company") today
announced that it will redeem all of the issued and outstanding
7.50% Senior Notes due 2021 (the "Notes") on December 30, 2019 (the "Redemption Date"). The
Notes have an aggregate principal amount of $52,154,350.
The redemption price is equal to 100% of the aggregate principal
amount, plus any accrued and unpaid interest up to, but excluding,
the Redemption Date, as set forth in each notice of redemption
delivered to noteholders (the "Redemption Payment").
Interest on the Notes will cease to accrue on and after the
Redemption Date. The Notes, which are listed on NASDAQ under the
ticker symbol "RILYL," will be delisted and cease trading on the
Redemption Date.
Investors in the Notes should contact the bank or broker through
which they hold a beneficial interest in the Notes for information
about the Redemption Payment.
This press release is for informational purposes only and shall
not constitute a notice of redemption of the Notes or an offer to
purchase, or a solicitation of an offer to sell, any Notes or other
securities.
About B. Riley Financial, Inc. (NASDAQ:RILY)
B. Riley
Financial provides collaborative financial services tailored
to fit the capital raising and business advisory needs of public
and private companies and high-net-worth individuals. B. Riley
operates through several wholly-owned subsidiaries which offer
complementary end-to-end capabilities spanning investment banking
and institutional brokerage, private wealth and investment
management, corporate advisory, restructuring, due diligence,
forensic accounting and litigation support, appraisal and
valuation, and auction and liquidation services. Certain registered
affiliates of B. Riley originate and underwrite senior secured
loans for asset-rich companies. The Company also makes proprietary
investments in companies and assets with attractive return
profiles.
Forward-Looking Statements
Statements in this press
release that are not descriptions of historical facts are
forward-looking statements that are based on management'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 redemption of these Notes. 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 Company's
financial performance; and those risks described from time to time
in B. Riley Financial's periodic filings with the SEC, including,
without limitation, the risks described in B. Riley Financial's
Annual Report on Form 10-K for the year ended December 31, 2018 under the captions "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations." Additional information is
also set forth in our Quarterly Report on Form 10-Q for the quarter
ended September 30, 2019. 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 Financial undertakes no duty to update this
information.
Investors
Investor Relations
ir@brileyfin.com
(310) 966-1444
Media
Jo Anne
McCusker
jmccusker@brileyfin.com
(646) 885-5425
View original content to download
multimedia:http://www.prnewswire.com/news-releases/b-riley-financial-announces-full-redemption-of-7-50-senior-notes-due-2021--300966208.html
SOURCE B. Riley Financial