B. Riley & Co., LLC and FBR Capital Markets & Co. Act as Joint Book-Running Managers of $230 Million SPAC Initial Public Offering for Industrea Acquisition Corp.

LOS ANGELES, Aug. 02, 2017 -- B. Riley & Co., LLC and FBR Capital Markets & Co., LLC, full service investment banks and wholly-owned subsidiaries of B. Riley Financial, Inc. (NASDAQ:RILY), acted as joint book-running managers in the Special Purpose Acquisition Company (SPAC) initial public offering of 23 million units of Industrea Acquisition Corp., which includes the full exercise by the underwriters of their option to purchase an additional 3 million units to cover over-allotments.

Each unit consisted of one share of Class A common stock and one redeemable warrant. The offering was priced at $10.00 per unit, resulting in gross proceeds of approximately $230 million. The units began trading on The NASDAQ Capital Market under the ticker symbol “INDUU” on July 27, 2017 and the offering closed on August 1, 2017.

The offering was made only by means of a prospectus, copies of which may be obtained from: FBR Capital Markets & Co., Attention: Prospectus Department, 1300 14th Street North, Suite 1400, Arlington, VA 22209, or by telephone at (800) 846-5050 or by email at [email protected]; and B. Riley & Co., LLC, Attention: Prospectus Department, 11100 Santa Monica Blvd., Suite 800, Los Angeles, CA 90025, or by telephone at (310) 966-1444 or by email at [email protected].

A registration statement relating to the securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on July 26, 2017. This press release 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 Industrea Acquisition Corp.

Industrea Acquisition Corp. is a special purpose acquisition company formed by Industrea Alexandria LLC, a portfolio company of Argand Partners, for the purpose of entering into a merger, stock purchase, or similar business combination with one or more businesses. While the company may pursue an initial business combination target in any business or industry, it intends to focus its search on manufacturing and service companies in the industrial sector.

About FBR Capital Markets & Co.

FBR Capital Markets & Co., LLC provides investment banking, M&A advisory, institutional brokerage and research services with focused capital and financial expertise in consumer, energy and natural resources, financial institutions, healthcare, insurance, industrials, real estate, technology, media and telecom industries.

About B. Riley & Co., LLC

B. Riley & Co., LLC is a leading investment bank which provides corporate finance, research and sales and 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.

About B. Riley Financial, Inc.

B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., LLC, FBR Capital Markets & Co., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.

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