Item
8.01. Other Events.
Over-Allotment
Closing
As
previously reported on a Current Report on Form 8-K of B. Riley Principal 250 Merger Corp. (the “Company”) filed on May 18,
2021, on May 11, 2021, the Company consummated its initial public offering (“IPO”) of 15,000,000 units (the “Units”).
Each Unit consists of one share of Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”),
and one-third of one redeemable warrant of the Company (each, a “Warrant”), each whole Warrant entitling the holder thereof
to purchase one share of Class A Common Stock for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per
Unit, generating gross proceeds to the Company of $150,000,000. The underwriters of the IPO (the “Underwriters”) were granted
a 45-day option to purchase up to 2,250,000 additional Units to cover over-allotments, if any. On June 14, 2021, the Underwriters exercised
the over-allotment option in full and purchased an additional 2,250,000 Units (the “Over-Allotment Units”), generating gross
proceeds of $22,500,000.
As previously reported on a Current
Report on Form 8-K of the Company filed on May 18, 2021, on May 11, 2021, simultaneously with the consummation of the IPO, the Company
completed the private sale (the “Private Placement”) of an aggregate of 555,000 units (the “Private Placement Units”)
to B. Riley Principal 250 Sponsor Co., LLC (the “Sponsor”) at a purchase price of $10.00 per Private Placement Unit, generating
gross proceeds to the Company of $5,550,000. On June 14, 2021, simultaneously with consummation of the sale of the Over-Allotment Units,
the Company consummated a private sale of an additional 45,000 Private Placement Units to the Sponsor, generating gross proceeds of $450,000.
A
total of $172,500,000, comprised of $169,050,000 of the proceeds from the IPO and the sale of the Over-Allotment Units and $3,450,000
of the proceeds of the sale of the Private Placement Units, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A.
maintained by Continental Stock Transfer & Trust Company, acting as trustee.
An audited balance sheet as of
May 11, 2021 reflecting receipt as a result of the IPO of the proceeds upon consummation of the sale of the Units and of the 555,555 Private
Placement Units on May 11, 2021, was previously filed on a Current Report on Form 8-K on May 18, 2021. The Company’s unaudited pro
forma balance sheet as of May 11, 2021, reflecting receipt of the proceeds from the sale of the Over-Allotment Units and of the 45,000
Private Placement Warrants on the same day, is included as Exhibit 99.1 to this Current Report on Form 8-K.
A copy of the press release issued
by the Company announcing the exercise of the over-allotment option is attached hereto as Exhibit 99.2.