Welcome to our dedicated page for B Riley Principl news (Ticker: BRIV), a resource for investors and traders seeking the latest updates and insights on B Riley Principl stock.
This page serves as a historical archive of news and press releases related to B. Riley Principal 250 Merger Corp. (BRIV), a special purpose acquisition company that was sponsored by B. Riley Financial, Inc. The SPAC was formed with the objective of identifying and merging with a private company to bring it public through a business combination transaction.
B. Riley Principal 250 Merger Corp. traded on the Nasdaq Capital Market with units under the symbol BRIVU, common stock as BRIV, and warrants as BRIVW. The company maintained a flexible investment mandate, targeting established businesses across various industries that demonstrated strong cash flow generation and growth potential.
The SPAC was ultimately liquidated after being unable to complete a business combination within its required timeframe. The board of directors determined to redeem all outstanding Class A common stock, returning trust account funds to public shareholders. The company's warrants expired without value, and securities were subsequently delisted from Nasdaq.
Historical news coverage documents the SPAC's lifecycle from its initial public offering through various corporate announcements and ultimately its liquidation proceedings. These archived materials provide insight into the company's activities during its operational period and the events leading to its dissolution.
While B. Riley Principal 250 Merger Corp. is no longer an active entity, this archive remains available for investors and researchers interested in the company's history. The SPAC's sponsor, B. Riley Financial, continues to operate as a diversified financial services company and has been involved with other SPAC vehicles.
B. Riley Principal 250 Merger Corp. (NASDAQ: BRIV) will redeem all outstanding shares of Class A common stock effective May 4, 2023, due to failure to complete an initial business combination within the required timeframe. Shareholders will receive a redemption price of approximately $10.15 per share, following the deduction of certain expenses. The company will liquidate its trust account, holding the proceeds in a non-interest bearing account until disbursed. Warrant holders will not receive redemption rights. Furthermore, the company plans to delist its securities from Nasdaq and terminate their registration with the SEC, further indicating a strategic shift in operations.
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