B. Riley Asset Management Acquires Rights to Manage Dialectic Hedge Funds
- Press Release
LOS ANGELES, March 4, 2014 /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 acted as sole book-running manager in a $12.5 Million Underwritten Public Offering for WidePoint Corporation (NYSE MKT: WYY).
The offering, which closed March 3, 2014, consisted of approximately 9 million shares of common stock priced at $1.38 per share, which included an overallotment of approximately 1.2 million shares which the underwriter exercised in full.
B. Riley's Associate Chris Sigala, and Chairman Bryant Riley, led the banking team for this transaction.
"WidePoint has had a long term relationship with B. Riley, primarily because B. Riley has a keen understanding of our industry sector," said WidePoint Chief Executive Officer Steve Komar. "Their relationships with institutional investors who are interested in companies such as ours have allowed us to both complete a successful capital raise as well as gain introduction to new institutional investors."
"The B. Riley team's execution of this public offering was flawless and completed in a very concentrated period; allowing us to take advantage of opportune market timing," said James McCubbin, WidePoint's Chief Financial Officer."
"We are pleased to have assisted WidePoint in this public offering," said Bryant Riley, Chairman of B. Riley. "As with other clients, we strive to align a company's capital raising needs with the investment goals of our institutional clients."
McLean, Virginia-based WidePoint Corporation (www.widepoint.com) is a provider of secure, cloud-delivered, enterprise-wide mobile and information technology-based solutions that can enable enterprises and agencies to deploy fully compliant IT services in accordance with government mandated regulations and advanced system requirements.
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.
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, Del Mar, San Francisco, and New York. 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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