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MarketScreener Homepage  >  Equities  >  Nasdaq  >  B. Riley Financial Inc    RILY

B. RILEY FINANCIAL INC (RILY)
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B. Riley Financial Subsidiaries Assist Amyris, Inc. with $36 Million Term Loan

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07/12/2018 | 11:33pm CEST

LOS ANGELES, July 12, 2018 (GLOBE NEWSWIRE) -- B. Riley Financial, Inc. (NASDAQ:RILY), a diversified provider of financial and business advisory services, announced today that its operating subsidiaries, B. Riley FBR, Inc. and Great American Capital Partners, LLC (“GACP”), assisted Amyris, Inc. to obtain a $36 million term loan. Amyris intends to use cash from the term loan to pay off the Company’s Stegodon and other short-term debt maturities. The term loan also includes an additional $35 million accordion credit facility that provides Amyris with another option for financing construction of its production facility, if necessary.

B. Riley FBR, a leading investment bank, sourced the transaction and served as an advisor to Amyris, and GACP’s fund, GACP II, LP, provided the loan. B. Riley FBR is a full service investment bank; GACP is a subsidiary of B. Riley Capital Management, a SEC Registered Investment Advisor. Both companies are wholly-owned subsidiaries of B. Riley Financial.

“Our relationship with Amyris and this transaction are reflective of the value that can be provided by the diverse platform that encompasses B. Riley FBR and GACP,” said Perry Mandarino, Co-Head of Investment Banking at B. Riley FBR. “We have a unique ability to leverage our in-house and cross-platform resources to provide comprehensive solutions to our clients through services we offer all under the same roof.”

“We continue to provide our clients the necessary capital to achieve their business objectives. In conjunction with our affiliates, combined with our industry experience and ability to develop a flexible financing strategy, we are able to help companies like Amyris pursue growth opportunities for their businesses,” said John Ahn, President of GACP. “We are very pleased to have been selected by Amyris and contribute to their continued growth and success.”

“The teams at B. Riley FBR and GACP not only understood our business objectives, but provided us the resources we needed to resolve our near-term debt. Now, Amyris has the flexibility and time needed to execute our business initiatives, including resolving other debt and improving our capital structure when the timing and economics are more advantageous,” said John Melo, President and CEO of Amyris.

About Amyris, Inc.

Amyris is the integrated renewable products company that is enabling the world’s leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise™ products and services across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, pharmaceuticals, and nutraceuticals. More information about the company is available at www.amyris.com.

About B. Riley Financial, Inc.

B. Riley Financial, Inc. (NASDAQ:RILY), through its subsidiaries, provides collaborative financial services and solutions to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc.Great American Group, LLCB. Riley Capital Management, LLC (which includes B. Riley Asset ManagementB. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, LLC, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.

Media Contact
Jo Anne McCusker
jmccusker@brileyfin.com
(646) 885-5425

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© GlobeNewswire 2018
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Managers
NameTitle
Bryant Richard Riley Chairman & Chief Executive Officer
Thomas John Kelleher Co-Chief Executive Officer & Director
Kenneth M. Young President
Phillip J. Ahn Chief Operating & Financial Officer
Andrew Gumaer Director
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