LOS ANGELES, July 17, 2017 (GLOBE NEWSWIRE) -- B. Riley & Co., LLC (“B. Riley”), a full-service investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), acted as the exclusive financial advisor to Gracious Home (the “Company”), a luxury home retailer, in connection with its Chapter 11 bankruptcy proceeding.
In addition to assisting with the sale of substantially all of the Company’s assets to NEWGH, LLC, B. Riley helped the Company to secure a DIP facility from Gracious Home Lending, LLC, a special purpose vehicle formed by JMB Capital. The sale closed on July 3, 2017.
B. Riley’s deal team was led by Perry Mandarino and Adam Rosen. Trenk, DiPasquale, Della Ferra and Sodono served as legal counsel to the Company.
About Gracious Home
Founded in 1963, Gracious Home began as a small neighborhood hardware store on Manhattan’s Upper East Side. Today, the Gracious Home operates a housewares and home furnishings business at various locations. Gracious Home offers a wide range of customized products and services, including personal shopping, corporate and bridal gifts, decorative hardware, lighting and plumbing, key making, knife sharpening, lamp re-wiring, vacuum repairs and custom window treatments. For more information, visit www.gracioushome.com.
About B. Riley & Co.
B. Riley & Co., LLC 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 merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research. B. Riley & Co., LLC is a member of FINRA and SIPC.
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 & Co., LLC (www.brileyco.com), FBR Capital Markets & Co. (www.fbr.com), Wunderlich Securities, Inc. (www.wunderlichonline.com), Great American Group, LLC (www.greatamerican.com), and B. Riley Capital Management, LLC (which includes B. Riley Asset Management (www.brileyam.com), B. Riley Wealth Management (www.brileywealth.com), and Great American Capital Partners, LLC (www.gacapitalpartners.com)). The Company also makes proprietary investments in other businesses, such as the acquisition of United Online, Inc. (www.untd.com) in July 2016, where B. Riley Financial, Inc. is uniquely positioned to leverage its expertise and assets in order to maximize value.
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Source:B. Riley & Co.