2014

B. Riley & Co. Acted As Sole Underwriter In $12.4 Million Underwritten Overnight Public Offering For EMCORE Corp. and Sole Underwriter in $6 Million Underwritten Public Offering for Arotech Corp.

LOS ANGELES, Sept. 20, 2013 /PRNewswire/ -- B. Riley & Co., LLC, (B. Riley) www.brileyco.com, a leading independent investment bank which provides a full array of corporate finance, research, sales and trading services announced that it has participated in the following transactions:

  • Acted as sole underwriter in a $12,362,500 underwritten overnight public offering for EMCORE Corporation (NASDAQ: EMKR)
  • Acted as sole underwriter in a $6,000,000 underwritten public offering for Arotech Corp. (NASDAQ: ARTX).

(Logo: http://photos.prnewswire.com/prnh/20130510/LA11405LOGO)

For EMCORE Corporation:

This offering represents the second sole managed transaction with EMCORE in the past twelve months.  The offering, which was announced after the market closed on September 12, 2013, consisted of 2,875,000 shares of common stock, and included an overallotment of 375,000 shares which the underwriter exercised in full.  B. Riley priced the offering prior to the market open on September 13, 2013 at $4.30 per share. The Company intends to use the proceeds of the offering for general corporate purposes.  The offering closed on September 18, 2013 and was subject to the satisfaction of customary closing conditions.

B. Riley's Chairman Bryant Riley and Managing Director Bradley Nii led the banking team for this transaction.

"We continue to be impressed with B. Riley's execution capabilities in the equity markets on our behalf," said Hong Hou, EMCORE's Chief Executive Officer.  "B. Riley has proven to be a valuable resource to EMCORE."

Albuquerque-based EMCORE offers a broad portfolio of compound semiconductor-based products for the fiber optics and solar power markets. EMCORE's Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE's Solar Photovoltaics business segment provides products for space power applications including high-efficiency multi-junction solar cells, Covered Interconnect Cells (CICs) and complete satellite solar panels.

For Arotech Corporation:

The offering was announced on September 12, 2013 and consisted of 3,428,571 shares of common stock.  The offering was marketed over a two-day period and priced at $1.75 per share on September 13, 2013.  Arotech has also granted the underwriters a 30-day option to purchase up to 514,285 additional shares of common stock, on the same terms and conditions, to cover over-allotments, if any. The offering closed on September 18, 2013 and was subject to the satisfaction of customary closing conditions.

Bryant Riley and Ryan Bernath led the B. Riley banking team for this transaction.

"B. Riley was absolutely right for Arotech, having the right equities platform for us, knowing the right investors to have us present to, and to execute this transaction quickly and efficiently. We are confident that B. Riley will continue to assist us in achieving our ambitious growth program," said Robert S. Ehrlich, Arotech's Chairman and Chief Executive Officer.

Arotech Corporation is a provider of defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates two major business divisions: Training and Simulation and Battery and Power Systems.  Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Alabama, Michigan, and Israel.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About B. RILEY & CO.

B. Riley & Co. is a leading independent investment bank which provides a full array of corporate finance, research, sales, trading and otcqx dad services to corporate, institutional and high net worth individual clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders. The firm is recognized for its distinguished Equity Research. Founded in 1997, B. Riley is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Boston and New York.  It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.

SOURCE B. Riley & Co., LLC



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