---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-21-066955"
form_type: "8-K"
ticker: "RILY"
cik: "0001464790"
company_name: "BRC Group Holdings, Inc."
filed_at: "2021-12-22T23:59:59+00:00"
generated_at: "2026-06-27T22:52:45.368304+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-21-066955
- form_type: 8-K
- ticker: RILY
- cik: 0001464790
- company_name: BRC Group Holdings, Inc.
- filed_at: 2021-12-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390021066955/0001213900-21-066955-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390021066955/ea152650-8k_brileyfin.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-21-066955
- JSON: https://secwatch.observer/filing/0001213900-21-066955.json
- Plain text: https://secwatch.observer/filing/0001213900-21-066955.txt

## Key facts
- Executive change
  Tammy Brandt was appointed as independent director at BRC Group Holdings, Inc..
  - Action: appointed
  - Role: independent director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464790/000121390021066955/0001213900-21-066955-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.