B. Riley Principal 250 Merger Corp. today priced its IPO of 15 million units at $10 each.
Units begin trading today on the Nasdaq under BRIVU. Each consists of one share of Class A common stock and one-third of one redeemable warrant; whole warrants exercisable at $11.50. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants will list under BRIV and BRIVW, respectively.
The SPAC said it intends “to focus on businesses that have a history of, or potential for, strong cash flow generation and growing revenue streams, and would benefit from access to public markets and the operational and strategic expertise of its management team and board of directors.”
The SPAC was formed by Daniel Shribman, who also serves as CIO of B. Riley Financial, and Bryant Riley, who is chairman and Co-CEO of B. Riley Financial.
B. Riley Securities is sole book-running manager. The SPAC has granted the underwriters a 45-day option to purchase up to an additional 2.25 million units at the IPO price to cover any over-allotments. Read more.
