B. Riley Asset Management Acquires Rights to Manage Dialectic Hedge Funds
- Press Release
LOS ANGELES, /PRNewswire via COMTEX/ -- 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 acted as joint book-running manager in a $47.9 million common stock offering for CalAmp Corp. (CAMP) which closed February 20, 2013.
The underwritten public offering consisted of 5,175,000 shares priced at $9.25 per share, including an overallotment of 675,000 shares which the underwriters exercised in full.
B. Riley Managing Director Mark Davis, Senior Vice President Salomon Kamalodine and Associate Chris Sigala led the banking team on behalf of B. Riley.
In connection with the offering, Canaccord Genuity Inc. acted as joint book-running manager. Craig-Hallum Capital Group LLC, Northland Securities, Inc. and First Analysis Securities Corporation acted as co-managers.
The offering was conducted pursuant to an effective registration statement, which is on file with the Securities and Exchange Commission.
This is B. Riley's second engagement with CalAmp in recent months. B. Riley acted as exclusive financial advisor to CalAmp in its pending $53 million acquisition of the operating subsidiary of Wireless Matrix Corporation announced December 20, 2012. CalAmp has stated that it intends to use the net proceeds from the offering to fund a portion of the Wireless Matrix acquisition.
Oxnard, California-based CalAmp is a proven leader in providing wireless communications solutions to a broad array of vertical market applications and customers. CalAmp's extensive portfolio of intelligent communications devices, robust and scalable cloud service platform, and targeted software applications streamline otherwise complex machine-to-machine (M2M) deployments. These solutions enable customers to optimize their operations by collecting, monitoring and efficiently reporting business critical data and desired intelligence from high-value remote assets. For more information, please visit www.calamp.com.
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 in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the base prospectus.
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, New York, Boston and Atlanta. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.
SOURCE B. Riley & Co., LLC
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B. Riley & Co., LLC (www.brileyco.com) is acting as exclusive financial advisor to CalAmp Corp. (NASDAQ: CAMP) in its pending acquisition of the operating subsidiary of Wireless Matrix Corporation (TSX:WRX) for (U.S.) $53 million in an all cash transaction.Continue Reading >
According to Mike Crawford, an analyst at B.Riley who has been riding CAMP since the $3-$4 range (well done, Mike!), CAMP is on the cusp of growing its earnings to an annual run-rate of $1.00 a share by calendar 2014, with revenues approaching $50 million a quarter. Considering that the company’s guidance for two quarters out is already above $45 million a quarter, we think that Mr. Crawford will be proven right, and perhaps sooner than we all think.Continue Reading >