LOS ANGELES, Dec. 7, 2016 /PRNewswire/ -- B. Riley &
Co., LLC (B. Riley), a full service investment bank and a
wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY),
acted as the sole book-running manager in the underwritten public
offering of 1 million shares of common stock for Cadiz Inc.
Cadiz priced the 1 million shares of its common stock at
$9.75 per share. In addition, B.
Riley exercised its option to purchase an additional 150,000
shares resulting in gross proceeds of approximately $11,212,500 million. The offering closed on
December 6, 2016.
About Cadiz:
Founded in 1983, Cadiz Inc. is a
publicly-held renewable resources company that owns over 45,000
acres of property with significant water resources in Southern California. The Company is engaged in
a combination of organic farming and water supply and storage
projects at its properties and abides by a wide-ranging "Green
Compact" focused on environmental conservation and sustainable
practices to manage its land, water and agricultural resources. For
more information about Cadiz, visit http://www.cadizinc.com/.
About B. Riley & Co., LLC
B. Riley & Co.,
LLC is a leading investment bank which provides corporate
finance, research, and sales & trading to corporate,
institutional and high net worth individual clients. 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. (NASDAQ: RILY) 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 also makes proprietary investments in
other businesses where B. Riley Financial, Inc. is
uniquely positioned to leverage its expertise and assets in order
to maximize value. The Company operates through several
wholly-owned subsidiaries, including B. Riley & Co.,
LLC (www.brileyco.com), Great American Group,
LLC (www.greatamerican.com), Great American Capital
Partners (www.gacapitalpartners.com) and B. Riley
Capital Management, LLC (which includes B. Riley Asset
Management and B. Riley Wealth Management,
(www.brileywealth.com). Since the acquisition of United
Online, Inc. (www.untd.com) in July 2016, B. Riley
Financial, Inc. also provides internet access services under
the NetZero and Juno brands.
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.
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SOURCE B. Riley & Co., LLC