LOS ANGELES, March 7, 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 acted as advisor in an $83.5 Million comprehensive debt refinancing package for Cadiz, Inc. (Nasdaq: CDZI).
The refinancing establishes two separate debt instruments, a $30 million senior secured mortgage, and a $53.5 million convertible bond.
B. RILEY served as advisor in the transaction and placement agent for the convertible bonds. The transaction closed March 5, 2013.
This is B. RILEY's second engagement for Los Angeles-based Cadiz, a publicly held renewable resources company engaged in a combination of organic farming and water supply and storage projects, including the Cadiz Valley Water Conservation, Recovery & Storage Project."B. Riley was a great partner in this transaction," said Scott Slater, Chief Executive Officer of Cadiz, "and their involvement helped us broaden our investor base." 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, New York, Boston and Atlanta. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com. SOURCE B. Riley & Co.