B. Riley Financial (RILY) Prices 1.23M Share Common Offering at $46/Sh

B. Riley Financial, Inc. (NASDAQ: RILY) today announced that it priced an underwritten registered public offering of 1,228,735 shares of its common stock at a price to the public of $46.00 per share (the "Offering"), for gross proceeds of approximately $56.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company has granted the underwriter a 30-day option to purchase up to an additional 184,310 shares of common stock in connection with the Offering at the public offering price, less underwriting discounts and commissions. Certain of the Company's officers, directors and employees have agreed to purchase an aggregate of 149,670 shares in this offering at the public offering price. The offering is expected to close on January 15, 2021, subject to customary closing conditions.

The Company expects to use the net proceeds of this offering for general corporate purposes, including funding future acquisitions and investments, making capital expenditures and funding working capital.

B. Riley Securities, Inc. is acting as sole book-running manager for the offering.

The shares of common stock will be offered under the Company's shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission ("SEC") on February 24, 2020. The offering will be made only by means of a prospectus supplement and accompanying base prospectus.

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