LOS ANGELES, May 24, 2016 /PRNewswire/ -- B. Riley & Co., LLC (B. Riley), a leading full service independent investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), has acted as the placement agent in the $10.2 million Series A Preferred Stock Financing for Finjan Holdings, Inc., a leading cybersecurity company.

The financing, which closed May 20, 2016, consisted of 102,000 shares of the company's Series A Preferred Stock at a purchase price of $100.00 per share, for aggregate proceeds of $10.2 million. The Series A Preferred Stock contains certain optional and mandatory redemptive provisions, does not accrue an annual cash dividend, and carries participation rights in certain of the company's revenue streams until securities are retired.

"This non-convertible Series A financing is our first capital raise since becoming public and offers confidence in the foundation of Finjan's historical results and the promising future ahead," said Phil Hartstein, President and CEO of Finjan Holdings. "The investment flows directly onto our balance sheet and ensures we continue to operate our business and pursue licensing and enforcement efforts at a vigorous pace."

B. Riley's banking team consisted of Salomon Kamalodine, managing director of investment banking and analyst Erik Bullock. The team was assisted by Michael Guzman, senior managing director of corporate and venture services.

"This financing underscores the strength of Finjan's battle-tested cybersecurity IP and positions the company to capitalize on the momentum gained from multiple favorable legal developments over the past 24 months," said Salomon Kamalodine, managing director of B. Riley's investment banking practice. "Additionally, the funding places Finjan on a stronger footing to pursue its growing licensing pipeline."

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 Finjan Holdings
Established nearly 20 years ago, Finjan is a globally recognized leader in cybersecurity. Finjan's inventions are embedded within a strong portfolio of patents focusing on software and hardware technologies capable of proactively detecting previously unknown and emerging threats on a real-time, behavior-based basis. Finjan continues to grow through investments in innovation, strategic acquisitions, and partnerships promoting economic advancement and job creation. For more information, please visit www.finjan.com.

About B. Riley & Co.
B. Riley & Co., LLC is a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research. B. Riley & Co., LLC is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.

B. Riley Financial, Inc. (NASDAQ: RILY) provides collaborative financial services and solutions through several subsidiaries, including: Great American Group, LLC, a leading provider of advisory and valuation services, asset disposition and auction solutions; B. Riley Capital Management, LLC, an SEC registered Investment Advisor, which includes B. Riley Asset Management, a provider of investment products to institutional and high net worth investors, and B. Riley Wealth Management (formerly MK Capital Advisors), a multi-family office practice and wealth management firm focused on the needs of ultra-high net worth individuals and families; and Great American Capital Partners, a provider of senior secured loans and second lien secured loan facilities to middle market public and private U.S. companies. B. Riley Financial, Inc. is headquartered in Los Angeles with offices in major financial markets throughout the United States and Europe. For more information on B. Riley Financial, Inc., please visit www.brileyfin.com.

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SOURCE B. Riley & Co., LLC