LOS ANGELES, Dec. 20, 2017 (GLOBE NEWSWIRE) -- B. Riley FBR, Inc. ("B. Riley FBR"), a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), announced today that it has exercised its 30-day option to purchase an additional 3 million shares in its previously announced private placement for Select Interior Concepts, Inc.
B. Riley FBR priced a total of 21.75 million shares of common stock at $12 per share, resulting in aggregate gross proceeds of $261 million. The $36 million over-allotment option closed on December 20, 2017.
About B. Riley FBR, Inc.
B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and trading to corporate, institutional and high net worth individual clients. Investment banking services include initial secondary and follow-on offerings, institutional private placements and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company
which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc.,
Great American Group, LLC, B. Riley Capital Management, LLC (which includes B.
Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.
Source: B. Riley FBR, Inc.
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