WOODLAND HILLS, Calif., June 2, 2014 /PRNewswire/ -- Great American Group, Inc. (OTCBB: GAMR), a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services, announced today that a 1-for-20 reverse stock split of its common stock will be effective at the opening of trading on June 3, 2014.

As previously announced, the Company's board of directors authorized the reverse stock split earlier this month following authorization granted by the Company's stockholders at a special meeting held on May 12, 2014. The reverse stock split was approved by the Company's board of directors in connection with the Company's previously announced entrance into definitive agreements regarding a $51.4 million private placement and a business combination with B. Riley & Co., LLC, a leading, full-service independent investment bank, and certain of its affiliates.

When the reverse stock split becomes effective, every twenty (20) shares of common stock outstanding will convert into one (1) new share of common stock with no change in par value per share. This will reduce the number of common shares outstanding from approximately 30 million shares to approximately 1.5 million shares. The Company's common stock will continue to trade over-the-counter under the symbol "GAMR." The new CUSIP number for the common stock following the reverse stock split will be 38984G203.

No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fractional share of Great American Group, Inc. common stock as a result of the reverse stock split will receive a cash payment in lieu of such fractional share.

Holders of shares of common stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split, and will see the impact of the reverse stock split automatically reflected in their accounts. Beneficial holders may contact their bank, broker or nominee for more information.

For those few stockholders who hold physical stock certificates, instructions will be sent for exchanging those certificates for new certificates representing the post-split number of shares. The Company's transfer agent, Continental Stock Transfer & Trust Company, may be reached at 917-262-2378 for further information.

About Great American Group, Inc.(OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, Norwalk, Conn., San Francisco, London, Milan and Munich. For more information, call (818) 884-3737 or visit www.greatamerican.com.

Forward-Looking Statements
This press release may contain forward-looking statements by Great American Group that are not based on historical fact, including, without limitation, statements containing the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions and statements. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Such factors include those risks described from time to time in Great American Group's filings with the SEC, including, without limitation, the risks described in Great American Group's Annual Report on Form 10-K for the year ended December 31, 2013. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and Great American Group undertakes no duty to update this information.

Investor Contact:
Great American Group
Phillip Ahn
Chief Financial Officer and Chief Operating Officer
(818) 884-3737
pahn@greatamerican.com

SOURCE Great American Group

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