- Company Repurchases 950,000 Shares of Common Stock at $18.25 per Share
- Chairman and CEO Bryant Riley Purchases Additional 221,000 Shares of Common Stock
LOS ANGELES, March 19, 2018 (GLOBE NEWSWIRE) -- B. Riley Financial, Inc. (NASDAQ:RILY) (or “the Company”), a diversified provider of financial and business advisory services, announced its Board of Directors has approved the purchase of 950,000 shares of its common stock at $18.25 per share for a total aggregate amount of approximately $17.3 million in a block purchase as part of a privately-negotiated transaction.
In addition, B. Riley Financial’s Chairman and CEO Bryant Riley purchased approximately 221,000 shares of common stock for an aggregate value of approximately $4.0 million, or $18.25 per share.
“We view allocation of capital as critical to our success and something we constantly review,” said Bryant Riley. “We felt that this repurchase of shares was in the best interest of our shareholders.”
About B. Riley Financial, Inc.
Through its subsidiaries, B. Riley Financial, Inc. provides collaborative financial services and solutions 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.
B. Riley Financial, Inc.
Source:B. Riley Financial, Inc.