BRC Group Holdings, Inc. filings document the issuer behind RILYP, including its Series A depositary shares, common stock, Series B preferred depositary shares, and listed senior notes. The filings identify RILYP as depositary shares, each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, and place the security within the company’s broader Nasdaq-listed capital structure.
Regulatory disclosures include 8-K material-event reports, operating and financial results, capital-structure information, and definitive proxy materials for annual meeting governance. The filing record also reflects the company’s current BRC Group Holdings name and its former B. Riley Financial identity.
BRC Group Holdings, Inc. (RILY) reported third-quarter revenue of $33.028 million, versus $277.871 million in 2025, and a $243.018 million net loss available to common shareholders versus $89.068 million of income. Trading losses were $124.401 million. Nine-month revenue was $624.205 million versus $689.236 million; operating cash flow was $123.888 million versus $85.932 million used in 2025.
On September 28, 2026, BRC agreed to acquire Sangoma Technologies Corporation for approximately $169.602 million cash and $10.331 million in BRC shares, with total enterprise value of approximately $203.680 million. The transaction is subject to shareholder, court and regulatory approvals, is expected to close no later than early 2027, and has no financing condition. Funding is expected to include an amended and restated $212.255 million senior secured term loan and cash on hand.
After quarter-end, on November 3, 2026, BRC sold its interest in Great American Holdings, LLC for $62.250 million, including $10.570 million cash; an Oaktree Credit Facility amendment provided for $51.680 million of Oaktree Term Loan prepayment and $26.500 million in additional term loans. Over the next 12 months, BRC expects approximately $163.966 million in senior-note maturities.
BRC Group Holdings, Inc. reported a third-quarter 2026 net loss available to common shareholders of $243.0 million, or $6.04 per diluted share, compared with net income of $89.1 million, or $2.91 per diluted share, a year earlier. Total revenue was $33.0 million, versus $277.9 million, as $161.3 million of operating revenue was offset by $128.3 million of investment losses. The company attributed the quarter’s loss primarily to $226.7 million of pre-tax losses on its Babcock & Wilcox investment and a $14.6 million non-cash impairment of its GA Group investment.
For the first nine months, total revenue was $624.2 million and net loss available to common shareholders was $13.2 million; Operating Adjusted EBITDA was $103.3 million. Net debt was $562.3 million at September 30, down 10% from December 31, 2025. On November 3, the company completed the sale of its remaining GA Group equity interest for $62.3 million cash, using $51.7 million to repay Oaktree term-loan indebtedness. It reported $36.5 million of added liquidity, net of the closing fee.
BRC also has a definitive agreement to acquire Sangoma for a total enterprise value of $203.7 million. Closing is expected no later than early 2027, subject to Sangoma shareholder, court and regulatory approvals and other customary conditions; Sangoma shareholders are expected to hold approximately 4% of pro forma outstanding shares.
BRC Group Holdings, Inc. (RILY), through subsidiary BRF Finance Co., LLC, completed the sale of its remaining membership interests in Great American Holdings, LLC to affiliates of Oaktree Capital Management on November 3, 2026. BRF Finance received $62.25 million in cash consideration; approximately $51.7 million was used to repay part of BR Financial Holdings, LLC’s outstanding term-loan debt. Through subsidiaries, BRC had jointly owned Great American with Oaktree affiliates since 2024.
In connection with the closing, Opps XII Broker D Holdings, L.P. agreed to provide BR Financial Holdings with a $26.5 million incremental term loan, bearing the same interest rate as existing initial term loans and maturing February 26, 2028, subject to earlier maturity in certain circumstances. BR Financial Holdings paid a 2.0% closing fee as an original issue discount and capitalized a $3,281,250 transaction fee into the outstanding principal balance of Initial Term Loans. Future prepayment premiums were reduced to $0. After closing, term loans outstanding totaled approximately $43.7 million.
BRC Group Holdings, Inc. is the issuer of ordinary shares for which Daniel Asher and Equitec Proprietary Markets, LLC each report beneficial ownership of 1,965,376 shares, or 4.89% of the class. Each reports shared voting and shared dispositive power over 1,965,376 shares; Daniel Asher is identified as a 50% beneficial owner of Equitec.
BRC Group Holdings, Inc. completed a short-form merger on October 22, 2026, in which its indirect, wholly owned subsidiary, BRSH Merger Sub LLC, merged into B. Riley Securities Holdings, Inc. (BRSH), which survived. Merger Sub owned more than 90% of BRSH’s outstanding common stock immediately before the merger. At the effective time, each outstanding BRSH common share not held by Merger Sub—excluding shares subject to BRSH restricted-stock awards and shares held by holders who properly demanded and perfected appraisal rights—converted into a right to receive $8.88 in cash, without interest.
BRSH restricted-stock awards were canceled and replaced with BRC restricted-stock awards under the B. Riley Financial Inc. 2021 Stock Incentive Plan. Each replacement award covers the BRSH award’s share count multiplied by two, rounded down to a whole share, and keeps the same vesting terms and schedule, including applicable acceleration. Andy Moore, Chief Executive Officer of B. Riley Securities, Inc., a member of BRSH’s board, and a BRC named executive officer until September 18, 2025, received a substitute award covering 374,720 BRC shares.
BRC Group Holdings, Inc. (symbol: RILY) is the issuer of record for a Form 8-K filing submitted to the SEC.
BRC Group Holdings, Inc. (symbol: RILY) is the issuer of record for a Form 25-NSE filing submitted to the SEC. BRC Group Holdings, Inc. satisfied exchange requirements governing the voluntary withdrawal of its 6.50% Senior Notes Due 2026 from Nasdaq listing and registration. Nasdaq certified that it had reasonable grounds to believe it met all requirements for filing Form 25.
BRC Group Holdings, Inc. (RILY) reported that its Compensation Committee approved Amendment No. 1 to the amended and restated employment agreement with Co-Chief Executive Officer Bryant R. Riley, effective August 25, 2026. The amendment keeps the Executive compensated under the existing Incentive Program through the earlier of the end of fiscal year 2027 or termination of his participation under the agreement as amended. It removes all references to a “Holdback Amount,” so amounts earned by the Executive will not be subject to holdback. It also deletes a provision that prohibited the Executive from receiving an equity award during the Employment Period, allowing for potential equity grants. The full amendment is provided as Exhibit 10.1 and incorporated by reference.
BRC Group Holdings, Inc. filed a quarterly report as an institutional investment manager, disclosing that it is submitting a Form 13F holdings report covering all of its reportable positions. The report is signed by Co-Chief Executive Officer Bryant R. Riley.
The filing lists 37 reportable positions in the Form 13F information table, with an aggregate reported value of $433,573,984 (rounded to the nearest dollar). No other investment managers are included in this report, indicating BRC Group Holdings, Inc. is reporting solely on its own behalf.
BRC Group Holdings, Inc. entered into Amendment No. 5 to its Credit Agreement with Oaktree Fund Administration, LLC and other lenders through subsidiary BR Financial Holdings, LLC. The amendment updates the borrowing base by removing certain assets and increasing the percentage credit for others.
It clarifies that the springing maturity of the Initial Term Loan will not be triggered by the Company’s September 2026 or December 2026 bonds. The amendment replaces the Initial Term Loan exit fee with an amendment fee of $3,1250,000, which is added to the term loan principal and payable at maturity. Additional carve-outs and baskets are added, including capacity to repurchase up to $25 million of unsecured notes, expanded flexibility for equity line and variable rate transactions by subsidiaries, and an extended investment basket through the Maturity Date.