Fortress Bio, a biopharmaceutical company that acquires, develops, and commercializes innovative pharmaceutical and biotechnology products, sold National Holdings, a securities brokerage company, to NHC Holdings, a subsidiary of B. Riley Financial. Under the terms of the agreement, 24.0% of National was sold in an initial closing on Friday, November 16 at $3.25 per share, with the remaining 32.1% stake to be sold at the same per-share price following FINRA approval, for an aggregate purchase price totaling approximately $22.9%. Bryant Riley, Chairman and co-Chief Executive Officer of B. Riley Financial stated, “The opportunity to strategically invest in a growing business, below book value and near cash value, is in my view, an excellent investment for our stakeholders. National’s meaningful financial services platform includes over 700 registered advisors and tax professionals, servicing over 90,000 customer accounts and manages in excess of $12bn of client’s assets, which I believe positions the company very well for success. Mr. Riley continued, “Additionally, National has a growing investment banking business and strong distribution capabilities that we believe complements our own banking capabilities and we look forward to partnering with them on future transactions.”