B. Riley Financial, Inc. Acquires 29% of bebe stores, inc.
- Press Release
LOS ANGELES, June 3, 2014 /PRNewswire/ -- B. Riley & Co., LLC, (B. RILEY) www.brileyco.com, a leading investment bank which provides a full array of corporate finance, research, sales and trading services, announced that it acted as sole underwriter in an approximately $16 Million Public Offering for Cache, Inc. (NASDAQ: CACH).
The offering, which closed June 2, 2014, consisted of 9.2 million shares of common stock priced at $1.75 per share, which included an overallotment of 1.2 million shares which the underwriter exercised in full.
"B. Riley did an outstanding job for Cache," said Jay Margolis, Cache's Chairman and CEO. "The offering was completed on schedule, raised the desired amount of capital and attracted both existing and new shareholders. I believe that the financing's success demonstrates B. RILEY's deep knowledge of the retail industry and their team's ability to craft innovative financial solutions."
"We appreciate that Cache's management allowed us the opportunity to help solve its capital raising needs," said Bryant Riley, Chairman of B. RILEY. "For nearly two decades the Consumer/Retail sector has been a major area of focus at B. RILEY. We currently are expanding our resources to provide a broader array of financial services to companies in this sector."
New York City-based Cache is a nationwide, mall-based specialty retailer of apparel and accessories. Cache offers a boutique shopping experience for stylish and fashion-conscious women with a product line consisting of elegant evening wear, event and day dresses, casual sportswear and accessories, primarily sold under the Cache brand. Cache currently operates 239 stores, primarily situated in central locations in high traffic, upscale malls in 41 states, the Virgin Islands and Puerto Rico. http://www.cache.com
Information contained herein should not be considered an offer or solicitation to buy or sell securities.
About B. RILEY:
B. Riley & Co., LLC (B. RILEY) is a leading investment bank which provides a full array of corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory to public and private middle market companies. The firm is nationally recognized for its highly ranked proprietary equity research. Founded in 1997, B. RILEY is headquartered in Los Angeles and maintains offices in: New York, San Francisco, and Newport Beach, California. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com