B. Riley Principal 250 Merger in an amended S-1 filing lowered its IPO to $150 million, or 15 million units, down 40 percent from the originally planned offering to raise $250 million. The SPAC registered the initial offer in February.
This is B. Riley’s fourth SPAC. The new blank-check company plans to target “established businesses that have an aggregate enterprise value of approximately $800 million to $2 billion.”
The SPAC is led by CEO and CFO Daniel Shribman, who is chief investment officer of B. Riley Financial and president of B. Riley Principal Investments.
The new SPAC expects to list on the Nasdaq under BRIVU. Read more.
