B. Riley & Co. Acted As Sole Underwriter In $12.4 Million Underwritten
Overnight Public Offering For EMCORE Corp. and Sole Underwriter in $6 Million
Underwritten Public Offering for Arotech Corp.
LOS ANGELES, Sept. 20, 2013
LOS ANGELES, Sept. 20, 2013 /PRNewswire/ -- B. Riley & Co., LLC, (B. Riley)
www.brileyco.com, a leading independent investment bank which provides a full
array of corporate finance, research, sales and trading services announced
that it has participated in the following transactions:
oActed as sole underwriter in a $12,362,500 underwritten overnight public
offering for EMCORE Corporation (NASDAQ: EMKR)
oActed as sole underwriter in a $6,000,000 underwritten public offering for
Arotech Corp. (NASDAQ: ARTX).
For EMCORE Corporation:
This offering represents the second sole managed transaction with EMCORE in
the past twelve months. The offering, which was announced after the market
closed on September 12, 2013, consisted of 2,875,000 shares of common stock,
and included an overallotment of 375,000 shares which the underwriter
exercised in full. B. Riley priced the offering prior to the market open on
September 13, 2013 at $4.30 per share. The Company intends to use the proceeds
of the offering for general corporate purposes. The offering closed on
September 18, 2013 and was subject to the satisfaction of customary closing
B. Riley's Chairman Bryant Riley and Managing Director Bradley Nii led the
banking team for this transaction.
"We continue to be impressed with B. Riley's execution capabilities in the
equity markets on our behalf," said Hong Hou, EMCORE's Chief Executive
Officer. "B. Riley has proven to be a valuable resource to EMCORE."
Albuquerque-based EMCORE offers a broad portfolio of compound
semiconductor-based products for the fiber optics and solar power markets.
EMCORE's Fiber Optics business segment provides optical components, subsystems
and systems for high-speed telecommunications, Cable Television (CATV) and
Fiber-To-The-Premise (FTTP) networks, as well as products for satellite
communications, video transport and specialty photonics technologies for
defense and homeland security applications. EMCORE's Solar Photovoltaics
business segment provides products for space power applications including
high-efficiency multi-junction solar cells, Covered Interconnect Cells (CICs)
and complete satellite solar panels.
For Arotech Corporation:
The offering was announced on September 12, 2013 and consisted of 3,428,571
shares of common stock. The offering was marketed over a two-day period and
priced at $1.75 per share on September 13, 2013. Arotech has also granted the
underwriters a 30-day option to purchase up to 514,285 additional shares of
common stock, on the same terms and conditions, to cover over-allotments, if
any. The offering closed on September 18, 2013 and was subject to the
satisfaction of customary closing conditions.
Bryant Riley and Ryan Bernath led the B. Riley banking team for this
"B. Riley was absolutely right for Arotech, having the right equities platform
for us, knowing the right investors to have us present to, and to execute this
transaction quickly and efficiently. We are confident that B. Riley will
continue to assist us in achieving our ambitious growth program," said Robert
S. Ehrlich, Arotech's Chairman and Chief Executive Officer.
Arotech Corporation is a provider of defense and security products for the
military, law enforcement and homeland security markets, including multimedia
interactive simulators/trainers and advanced zinc-air and lithium batteries
and chargers. Arotech operates two major business divisions: Training and
Simulation and Battery and Power Systems. Arotech is incorporated in
Delaware, with corporate offices in Ann Arbor, Michigan, and research,
development and production subsidiaries in Alabama, Michigan, and Israel.
This communication 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 & CO.
B. Riley & Co. is a leading independent investment bank which provides a full
array of corporate finance, research, sales, trading and otcqx dad services to
corporate, institutional and high net worth individual clients. Investment
banking services include merger and acquisitions advisory to public and
private middle market companies, initial and secondary public offerings and
institutional private placements. Its Corporate Governance Advisory Services
Group is engaged by both companies and investors to help maximize value for
shareholders. The firm is recognized for its distinguished Equity Research.
Founded in 1997, B. Riley is headquartered in Los Angeles and maintains
offices in Newport Beach, San Francisco, Boston and New York. It is a member
of FINRA and SIPC. For more information, please visit www.brileyco.com.
SOURCE B. Riley & Co., LLC
Contact: For B. Riley & Co., LLC: Bryant Riley, Chairman, 310-966-1444,
email@example.com, Ryan Bernath, Managing Director, 310-689-2238,
firstname.lastname@example.org, or Bradley Nii, Managing Director, 310-689-2219,
email@example.com; For Media Inquiries: Nevena Orbach, The Orbach Company,
Inc., 818-904-0500, firstname.lastname@example.org
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