B. RILEY FINANCIAL, INC. - RILY STOCK NEWS

B. Riley Principal 150 Merger Corp. closed its initial public offering (IPO) on February 23, 2021, raising gross proceeds of $172.5 million. The offering consisted of 17,250,000 units, priced at $10.00 per unit, with trading beginning under the ticker symbol BRPMU. Each unit includes one share of Class A common stock and one-third redeemable warrant. The company plans to use the proceeds for potential business combinations, focusing on firms with an enterprise value of $300 million to $1 billion. B. Riley Securities, Inc. was the sole book-running manager.

On February 23, 2021, B. Riley Financial (NASDAQ: RILY) announced the launch of its new Compliance, Risk and Resilience practice within B. Riley Advisory Services. Led by seasoned experts Scott Corzine and Duane Lohn, this initiative aims to enhance clients' capabilities in risk management, cybersecurity, and crisis preparedness. The practice will cater to both public and private sector clients, providing crucial support to navigate operational resiliency and regulatory compliance.

B. Riley Principal 150 Merger Corp. announced the pricing of its initial public offering (IPO) of 15 million units at $10.00 each, set to trade on Nasdaq under the symbol BRPMU starting February 19, 2021. Each unit includes one share of Class A common stock and one-third of a redeemable warrant, with the warrants exercisable at $11.50 per share. The IPO aims to raise capital for business combinations. The offering is expected to close on February 23, 2021, and B. Riley Securities, Inc. serves as the sole book-running manager.

B. Riley Financial (NASDAQ: RILY) will hold a conference call on February 25, 2021, at 4:30 p.m. ET to discuss its fourth-quarter and full-year results for 2020. The financial results will be released shortly after market close, prior to the call. Co-CEOs Bryant Riley and Tom Kelleher, along with CFO Phillip Ahn, will host the call, which includes a question and answer session. Investors can access the live broadcast and recording through the investor relations website.

B. Riley Financial (NASDAQ: RILY) announced a cash tender offer to purchase outstanding shares of National Holdings Corporation (NASDAQ: NHLD) for $3.25 per share. The offer commences on January 27, 2021 and is set to expire at midnight on February 24, 2021, unless extended. National's Board of Directors unanimously recommends shareholders accept the offer. The completion of the tender offer is contingent upon a majority of shares being validly tendered. Following this, a merger is expected to occur, making National a wholly owned subsidiary of B. Riley Financial.

B. Riley Advisory Services has been awarded the title of Middle Market Turnaround Consulting Firm of the Year at the 12th Annual Turnaround Atlas Awards, recognizing its leadership in restructuring. The firm also achieved accolades for its roles in significant bankruptcy matters, including the Power & Utilities Restructuring of the Year for Agera Energy’s Chapter 11 process and the Special Situation M&A Deal of the Year for the Aceto Pharmaceuticals case. Co-CEO Ian Ratner emphasized the trust clients place in their expertise to navigate complex strategic challenges.

B. Riley Financial, Inc. (NASDAQ: RILY) has successfully closed an underwritten public offering of $200 million in 6.00% senior notes due 2028. The offering generated net proceeds of approximately $193.7 million after costs and will fund the redemption of existing 7.50% senior notes and support general corporate activities. The notes received a BBB+ investment-grade rating from Egan-Jones Ratings Company and will trade under the symbol RILYT. The company aims to use excess proceeds for acquisitions and debt repayment.

B. Riley Financial (NASDAQ: RILY) announced a $200 million underwritten public offering of 6.00% senior notes due 2028, priced on January 20, 2021. The offering includes a 30-day option for underwriters to purchase an additional $30 million. The expected closing date is January 25, 2021. Proceeds over $50 million will be used to redeem existing 7.50% senior notes due 2027 and for general corporate purposes. The notes received a BBB+ investment grade rating from Egan-Jones and are expected to begin trading under the symbol "RILYT".

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