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B. Riley Acts as Placement Agent, Exclusive Financial Advisor in $14 Million Debt/Equity Private Placement for National Technical Systems, Inc.

Dépèche transmise le 29 juin 2011 par Business Wire

B. Riley Acts as Placement Agent, Exclusive Financial Advisor in $14 Million Debt/Equity Private Placement for National Technical Systems, Inc.

B. Riley Acts as Placement Agent, Exclusive Financial Advisor in $14 Million Debt/Equity Private Placement for National Technical Systems, Inc.

LOS ANGELES--(BUSINESS WIRE)--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 served as Placement Agent and Exclusive Financial Advisor to National Technical Systems, Inc. (NTS) (Nasdaq: NTSC) in a $14 Million private placement of debt and equity. B. Riley also provided a fairness opinion.

“B. Riley’s experience in the financing of defense and technology companies allowed us to secure needed capital quickly and efficiently”

In a press release issued June 28, 2011, NTS reported that Greenwich, CT-based Mill Road Capital is acquiring 933,333 shares of newly-issued, restricted NTS common stock at $7.50 per share. Mill Road is also investing $7 million in an interest-bearing, five-year subordinated note and in connection with the subordinated note is receiving seven-year warrants to acquire 300,000 shares of NTS common stock exercisable at a price of $0.75 per share.

B. Riley’s Managing Director Mike Lowell and Senior Vice President Salomon Kamalodine led the banking team.

“B. Riley’s experience in the financing of defense and technology companies allowed us to secure needed capital quickly and efficiently,” said William McGinnis, NTS’s Chief Executive Officer.

“We’ve known the B. Riley team for several years,” added Donald Tringali, NTS’s Chairman of the Board. “Their extensive relationships with quality capital sources were instrumental in helping us secure funding for acquisitions and our overall growth needs.”

Calabasas, CA-based National Technical Systems, Inc. is a leading provider of engineering services to the aerospace, defense, telecommunications, automotive and high technology markets. Through a world-wide network of resources, NTS provides full product life-cycle support, offering world class design engineering, compliance, testing, certification, quality registration and program management.

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, Philadelphia and New York. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.

Keywords:
Investment Banking
Private Placement
Placement Agent
Secured Loan Facility
Common Stock Offering
Exclusive Financial Advisor
Subordinated Debt Financing
Senior Secured Credit Facility
Defense Information Technologies
Aerospace
Military Intelligence
Mergers & Acquisitions
Corporate Finance
Sole Underwriter
Fairness Opinion
Financial Services
Business Services
Registered Direct Offerings

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