B Riley Financial has announced a new 2 million share offering of baby bonds. The notes will have an early redemption period starting 5/31/2020 and a maturity date of 5/31/2023.
This issue contains some bonus payments for early redemptions. Between 5/31/2020 and 5/31/2021 the redemption is $25.50 plus accrued interest. Between 5/31/2021 and 5/31/2022 the redemption is $25,25 plus accrued interest. After this date redemption is at $25 plus accrued interest. While these bonuses appear nice it is likely a tradeoff for a slightly lower coupon.
The anticipated ticker will be RILYH which should start trading in about a week. There will not be OTC Grey market trading.