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B. Riley Acts as Placement Agent in a $31 Million Private Placement for API Technologies

Dépèche transmise le 28 juin 2011 par Business Wire

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 has acted as placement agent in an approximately $31 million private placement for API Technologies (NASDAQ: ATNY).

“B. Riley’s banking team was efficient in identifying and coordinating the right combination of new and existing API investors to participate in our private placement. Their experience in the defense sector was a benefit to API.”

Orlando, Florida-based API Technologies Corp. a provider of electronic systems, subsystems, RF, and secure solutions for the defense, aerospace, and commercial industries, announced the completion of their debt and equity financing in a company press release dated June 27, 2011 stating: “it has entered into a $170 million secured term loan facility and completed a private placement of approximately $31 million of common stock at a price $6.50 per share. The term loan and proceeds of the private placement replace the $200 million term loan facility previously entered into by API on June 1, 2011 in connection with the closing of its acquisition of Spectrum Control, Inc.”

B. Riley served as placement agent for the private placement. Morgan Stanley Senior Funding, Inc. served as lead arranger, sole book-runner and administrative agent for the term loan.

Commenting on the private placement, Brian Kahn, Chairman and Chief Executive Officer said, “B. Riley’s banking team was efficient in identifying and coordinating the right combination of new and existing API investors to participate in our private placement. Their experience in the defense sector was a benefit to API.”

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.

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