B. Riley buys $400M Badcock credit receivables; appoints Tammy Brandt to board

BRC Group Holdings, Inc.

Purchased Badcock credit receivables portfolio for $400M cash; portfolio totaled ~$535M as of Dec 15, 2021.
May acquire additional receivables up to $40M (par) and 75% of new receivables over 90 days.
Transaction expected to be accretive to EBITDA; new receivables division launched.
Appointed Tammy Brandt as independent director, increasing board to 10 members (Dec 20, 2021).
Amended Nomura credit agreement to add $100M incremental term loan facility.

item 1.01 item 2.03 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Tammy Brandt

independent director

RILY · BRC Group Holdings, Inc.

Effective: 2021-12-20
Filed: December 22, 2021, 6:59 PM ET

Effective December 20, 2021, the Board of Directors (the “ Board ”) of the Company increased the number of directors that comprised the full Board from nine to ten members and appointed Tammy Brandt as an independent director to fill the new seat on the Board, with a term expiring at the Company’s next annual meeting of stockholders.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Tammy Brandt was appointed as independent director at BRC Group Holdings, Inc..

Action: appointed
Role: independent director

Exact text from the filing

Effective December 20, 2021, the Board of Directors (the “ Board ”) of the Company increased the number of directors that comprised the full Board from nine to ten members and appointed Tammy Brandt as an independent director to fill the new seat on the Board, with a term expiring at the Company’s next annual meeting of stockholders.

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BRC Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-21-066955

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