NEW YORK, June 17, 2021 /PRNewswire/ -- B. Riley
Principal 250 Merger Corp. (the "Company") (NASDAQ: BRIVU, BRIVW,
BRIV), a special purpose acquisition company sponsored by an
affiliate of B. Riley Financial, Inc. (NASDAQ: RILY), today
announced that on June 14, 2021, the
underwriters of its previously announced initial public offering of
units consisting of one share of Class A common stock of the
Company, par value $0.0001 per share
(the "Class A Common Stock"), and one-third of one redeemable
warrant of the Company (each, a "Warrant"), each whole Warrant
entitling the holder thereof to purchase one share of Class A
Common Stock for $11.50 per share,
exercised their option to purchase an additional 2,250,000 shares
at the public offering price of $10.00 per share, resulting in additional gross
proceeds of approximately $22.5
million.
After giving effect to the full exercise of the overallotment
option, the total number of shares sold in the public offering
increased to 17,250,000 shares and gross proceeds into the trust
increased to approximately $172.5
million. On June 14, 2021,
simultaneously with the underwriters' exercise of the overallotment
option, the Company consummated a private sale of an additional
45,000 private placement units to B. Riley Principal 250 Sponsor
Co., LLC, the sponsor, at a purchase price of $10.00 per private placement unit, generating
gross proceeds of $450,000.
B. Riley Securities, Inc. acted as the sole book-running manager
for the offering.
The offering was made by means of a prospectus. Copies of the
prospectus relating to this offering may be obtained from B. Riley
Securities, Inc. at 299 Park Avenue, New
York, New York 10171, by telephone at (800) 846-5050 or by
email at prospectuses@brileyfin.com.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC"). This press release 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 Principal 250 Merger Corp.
B. Riley
Principal 250 Merger Corp. is a blank check company incorporated as
a Delaware corporation whose
business purpose is to effect a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses. While the Company
may pursue an initial business combination target in any industry
or geographic region, it intends to focus on established businesses
that have an aggregate enterprise value of approximately
$800 million to $2 billion. The Company will seek to capitalize
on the significant experience of its management team in
consummating an initial business combination with the ultimate goal
of pursuing attractive returns for shareholders. The Company is
sponsored by an affiliate of B. Riley Financial, Inc. (NASDAQ:
RILY). Visit https://brileyfin.com/principal250mergercorp/ for more
information.
Contacts
Investors:
Dan Shribman
dshribman@brileyfin.com
(212) 457-3300
Media:
Jo Anne McCusker
jmccusker@brileyfin.com
(646) 885-5425
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SOURCE B. Riley Principal 250 Merger Corp.