January 16, 2018 / 1:16 PM / 9 months ago

BRIEF-B. Riley Financial, Inc. Acquires 29 Pct Of Bebe Stores, Inc.

Jan 16 (Reuters) - B. Riley Financial Inc:

* B. RILEY FINANCIAL, INC. ACQUIRES 29% OF BEBE STORES, INC.

* B. RILEY FINANCIAL INC - ‍SIMULTANEOUSLY WITH INVESTMENT, B. RILEY WAS GRANTED TWO OF FIVE SEATS ON BEBE BOARD OF DIRECTORS​

* B. RILEY FINANCIAL - AS A RESULT OF TRANSACTIONS, BEBE HAS MINIMAL EXPENSES AND HAS MAINTAINED APPROXIMATELY $340 MILLION NET OPERATING LOSS CARRYFORWARDS

* B. RILEY FINANCIAL - EXPECTS BEBE TO GENERATE DIVIDENDS THROUGH ACQUISITION OF CASH-GENERATING COMPANIES AND UTILIZATION OF ITS NET OPERATING LOSSES​

* B. RILEY FINANCIAL INC - ‍IT IS ANTICIPATED THAT BEBE SHARES WILL BE CONTRIBUTED TO B. RILEY’S UNIT​

* B. RILEY - ‍AS PART OF AGREEMENT, B. RILEY PRINCIPAL INVESTMENTS’ CEO, KENNY YOUNG, CHIEF INVESTMENT OFFICER, NICK CAPUANO, JOINED BEBE’S BOARD Source text for Eikon: Further company coverage:

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