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B. Riley Principal Merger Corp. II (BMRG.U) Prices $175M IPO


B. Riley Principal Merger Corp. II (BMRG.U) Prices $175M IPO

May 19, 2020 INTEL by Kristi Marvin

B. Riley Principal Merger Corp. II (BMRG.U), announced the pricing of their $175 million SPAC IPO this evening, downsized from $200 million, and the units are expected to begin trading tomorrow, Wednesday, May 20th, under the symbol NYSE: BMRG.U.

B. Riley Principal Merger Corp. II, is being sponsored by B. Riley FBR, the bank, and will be focusing on a broad range of industries, but within the $400 million to $1 billion enterprise value range.  Additionally, B. Riley II will be led by Bryant Riley, as Chairman, and Daniel Schribman, as CEO and Director.

Total SPAC deal count for 2020 year-to-date is now 26 with $7.901 billion in gross proceeds raised. The offering is anticipated to close on Friday, May 22, 2020.

B. Riley FBR, Inc., is acting as the sole book-running manager for this offering. Winston & Strawn LLP and Ellenoff Grossman & Schole LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP, acted as auditor.