{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-22-064960","form_type":"8-K","ticker":"RILY","cik":"0001464790","company_name":"BRC Group Holdings, Inc.","filed_at":"2022-10-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:50.740496+00:00","generated_at":"2026-06-23T02:38:11.544650+00:00","sec_items":["5.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"B. Riley acquires Targus for ~$250M enterprise value; adds steady cash flow portfolio company","bullets":["Acquired Targus for ~$250M enterprise value (5.2x TTM Adjusted EBITDA); Targus revenue ~$415M in TTM June 2022.","Financing: ~$85.5M bank debt and ~$114M seller financing/B. Riley bonds; consideration includes cash, 6.75% notes, and common stock.","Mikel H. Williams resigned from B. Riley board (not due to disagreement) and continues as Targus CEO.","Acquisition aligns with B. Riley's strategy of using episodic business capital to invest in steady free-cash-flow companies."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-22-064960","json":"https://secwatch.observer/filing/0001213900-22-064960.json","markdown":"https://secwatch.observer/filing/0001213900-22-064960.md","text":"https://secwatch.observer/filing/0001213900-22-064960.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1464790/000121390022064960/0001213900-22-064960-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1464790/000121390022064960/ea167296-8k_brileyfin.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-23T02:38:11.544650+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"af3079b2c7","claim":"Mikel H. Williams resigned as director at BRC Group Holdings, Inc..","evidence_excerpt":"On October 18, 2022, Mikel H. Williams resigned from the board of directors of B. Riley Financial, Inc. (the “Company”), effective immediately.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1464790/000121390022064960/0001213900-22-064960-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}