The offering, which closed November 3, 2014, consisted of approximately 7.93 million shares of common stock priced at $1.45 per share, which included an overallotment of approximately one million shares which the underwriters exercised in full.
B. RILEY's Bryant Riley and Associate Chris Sigala led the banking team for this transaction, which represents B. RILEY's second engagement with WidePoint within the past year. In February 2014, B. RILEY was the sole underwriter in an approximately $12.5 million public equity offering for WidePoint.
"The successful completion of this public offering marks another milestone in the long-term partnership between WidePoint and B. RILEY. B. RILEY's keen understanding of our business objectives, deep relationships with the institutional investor community and top-notch execution capabilities has again allowed WidePoint to meet its financial goals," said James McCubbin, WidePoint's Chief Financial Officer.
"We are pleased to have assisted WidePoint in this public offering," said Mr. Riley. "Our partnership with WidePoint is an excellent example of B. RILEY's relationship-based approach and ability to deliver financial solutions for our corporate clients while meeting 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:
B. Riley & Co. LLC, (B. RILEY) is a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and mergers and acquisitions advisory to public and private companies. The firm is nationally recognized for its highly ranked proprietary equity research.
B. RILEY recently combined with Great American Group, Inc. (OTCBB:GAMR), a leading provider of advisory and valuation services, asset disposition and auction solutions, capital investment, and real estate advisory services.
B. RILEY is headquartered in Los Angeles and maintains offices in New York, San Francisco and Newport Beach. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com or call 310-966-1444.
SOURCE B. Riley & Co., LLC