NEW YORK, May 22, 2020 /PRNewswire/ -- B. Riley Principal
Merger Corp. II (NYSE: BMRG.U) (the "Company"), a special purpose
acquisition company sponsored by an affiliate of B. Riley
Financial, Inc. (Nasdaq: RILY), today announced it closed its
initial public offering of 17,500,000 units at $10.00 per unit, resulting in gross proceeds of
The units are listed on the New York Stock Exchange ("NYSE") and
commenced trading under the ticker symbol "BMRG.U" on May 20, 2020. Each unit consists of one share of
Class A common stock and one-half of one redeemable warrant, each
whole warrant exercisable to purchase one share of Class A common
stock at a price of $11.50 per share.
Once the securities comprising the units begin separate trading,
the shares of Class A common stock and the warrants are expected to
be listed on the NYSE under the symbols "BMRG" and BMRG WS,"
respectively. No fractional warrants will be issued upon separation
of the units and only whole warrants will trade.
B. Riley FBR, Inc. acted as the sole book-running manager. The
Company has granted the underwriters a 45-day option to purchase up
to an additional 2,625,000 units at the initial public offering
price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies
of the prospectus relating to this offering may be obtained from B.
Riley FBR, Inc. at 299 Park Avenue, New
York, New York 10171, by telephone at (800) 846-5050 or by
email at firstname.lastname@example.org.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
("SEC") on May 19, 2020. 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 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 Principal Merger Corp. II
Principal Merger Corp. II is a blank check company incorporated for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses. While the Company
may pursue a business combination target in any industry or
geographic region, the Company intends to focus on established
businesses with an aggregate enterprise value of approximately
$400 million to $1 billion that would benefit from access to
public markets and the operational and strategic expertise of the
Company's management team and board of directors. The Company is
sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq:
RILY). Visit https://brileyfin.com/principalmergercorp/ for
Cautionary Note Concerning Forward-Looking
This press release contains statements that
constitute "forward-looking statements," including with respect to
the search for an initial business combination. No assurance can be
given that the proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement for the initial public offering filed with the SEC.
Copies are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
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SOURCE B. Riley Principal Merger Corp. II