Bookrunner B. Riley will assist with sale of 4,384,615 common shares
By Devika Patel
Knoxville, Tenn., Dec. 16 – Signature Group Holdings, Inc. said it priced a $28.5 million public sale of stock. The deal was announced Nov. 17.
The company will sell 4,384,615 common shares at $6.50 apiece. The price per share is a 2.99% discount to the Dec. 15 closing share price of $6.70.
B. Riley & Co. is the bookrunning manager.
Proceeds will be used for subsidiary Real Alloy Holding, Inc.’s pending acquisition of Aleris Corp.’s global recycling and specification alloys business and general corporate purposes.
Signature Group is an investment company based in Sherman Oaks, Calif.
| Issuer: | Signature Group Holdings, Inc.
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| Issue: | Common stock
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| Amount: | $28.5 million
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| Shares: | 4,384,615
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| Price: | $6.50
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| Warrants: | No
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| Bookrunner: | B. Riley & Co.
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| Announcement date: | Nov. 17
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| Pricing date: | Dec. 16
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| Stock symbol: | OTCBB: SGGH
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| Stock price: | $6.70 at close Dec. 15
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| Market capitalization: | $86.83 million
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