---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-024189"
form_type: "8-K"
ticker: "RILY"
cik: "0001464790"
company_name: "BRC Group Holdings, Inc."
filed_at: "2025-03-14T23:59:59+00:00"
generated_at: "2026-05-24T18:10:10.194923+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# B. Riley Financial completes carve-out of B. Riley Securities; retains ~89% ownership; BRS trades OTC under BRLY

## Summary
- BRS completed tax-free merger with Cascadia (OTC: CDIV), becoming separate entity with own governance.
- BRS common stock to be quoted on OTC Pink under ticker 'BRLY'.
- B. Riley Financial retains ~89% ownership; remaining shares held by BRS employees via RSAs and former Cascadia shareholders.
- Andrew Moore (Chairman & Co-CEO) and James Baker (Co-CEO) appointed to lead BRS; BRS is debt-free.
- BRS board: five members, four appointed by BRF; two independent directors to be appointed within 30 days.

## SEC filing metadata
- accession: 0001213900-25-024189
- form_type: 8-K
- ticker: RILY
- cik: 0001464790
- company_name: BRC Group Holdings, Inc.
- filed_at: 2025-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390025024189/0001213900-25-024189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390025024189/ea0234505-8k_briley.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-024189
- JSON: https://secwatch.observer/filing/0001213900-25-024189.json
- Plain text: https://secwatch.observer/filing/0001213900-25-024189.txt

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