By  on January 16, 2018

Bebe Stores Inc. is now an affiliate of its lender B. Riley Financial Inc.

The investment bank converted an existing $16.9 million loan with Bebe into 2.82 million shares of common stock at $6 per share and acquired an additional 250,000 shares, which now totals 29 percent of the brand. B. Riley will also control two of Bebe’s five board of director seats.

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