B. Riley Financial hired Virginia Schnippel as a managing director within the corporate advisory and valuation services practice at B. Riley Advisory Services. Schnippel most recently served as a principal in CohnReznick’s valuation advisory group.
B. Riley Securities, a middle-market investment bank and subsidiary of B. Riley Financial, served as lead left bookrunner to Office Properties Income Trust, a real estate investment trust, in its $300 million offering of senior secured notes due 2029.
B. Riley Securities served as lead left bookrunner to Diversified Healthcare Trust in its $941 million zero coupon senior secured notes offering. Diversified Healthcare Trust intends to use proceeds from the transaction to repay all of its outstanding debt maturing in 2024.
Core Scientific, a provider of blockchain computing data centers and software solutions, pre-paid the outstanding balance on a debtor-in-possession financing package provided by B. Riley Financial, the company’s DIP lender.
B. Riley Financial led the equity financing to facilitate the $2.8 billion management-led acquisition of Franchise Group. B. Riley invested $216.5 million of new capital in the transaction.
Larry Kanter, CPA/CFF, CFE joined B. Riley Financial as senior managing director with B. Riley Advisory Services, a provider of business advisory, appraisal and specialty financial consulting services. Kanter is based in Dallas and joined the firm’s national forensic accounting and litigation support practice.
B. Riley Financial and its retail liquidation affiliate were retained to assist in the restructuring and store rationalization of SALAMANDER in connection with the European shoe retailer’s recent insolvency.
B. Riley Financial, a diversified financial services platform, acquired the corporate division of Farber Group, a Toronto-based restructuring and business advisory firm. In connection with the acquisition, Farber’s corporate division will become part of B. Riley Advisory Services.
Pathlight Capital closed a $78.3 million upsize to the existing senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock.
B. Riley Securities, an investment bank and subsidiary of B. Riley Financial, added a team of nine healthcare and life sciences professionals from Huron Transaction Advisory, including James Metcalf and Benjamin Matz.