LOS ANGELES, Aug. 07, 2017 (GLOBE NEWSWIRE) -- B. Riley & Co., LLC (“B. Riley”), a full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), acted as the sole book-running manager of the underwritten public offering of 2,608,695 shares of common stock of I.D. Systems, Inc. (the “Company”).
The Company’s shares of common stock were priced at $5.75 per share. In addition, B. Riley exercised its option to purchase an additional 391,304 shares at the public offering price resulting in gross proceeds to the Company of approximately $15 million. The offering closed on July 17, 2017.
About B. Riley & Co., LLC
B. Riley & Co., LLC 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 & 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, FBR Capital Markets & Co., 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.
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Source:B. Riley & Co.