BRC Group Holdings, Inc. (RILY): debt financing — B. Riley exchanges ~$123M in 2026 notes for $87.7M of 8% secured notes due 2028 and common stock warrants

BRC Group Holdings, Inc.

Exchanged $86.3M of 5.50% Senior Notes due March 2026 and $36.7M of 5.00% Senior Notes due Dec 2026 for $87.7M of 8.00% Senior Secured Second Lien Notes due January 2028.
The Exchanged Notes were cancelled upon closing on March 26, 2025.
Issued warrants to purchase 351,012 shares of common stock at $10.00 per share to the investor.
New notes are secured on a second lien basis, guaranteed by certain subsidiaries, and mature January 1, 2028.
Interest on new notes at 8.00% per annum, payable semi-annually starting October 31, 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BRC Group Holdings, Inc. incurred senior notes of approximately $87.7 million aggregate principal amount with institutional investor at 8.00% per annum maturing January 1, 2028.

Instrument: senior notes
Principal: approximately $87.7 million aggregate principal amount
Counterparty: institutional investor
Rate: 8.00% per annum
Maturity: January 1, 2028
Event: incurrence

Exact text from the filing

the Investor exchanged approximately $86.3 million aggregate principal amount of the Company’s 5.50% Senior Notes due March 2026 Notes and approximately $36.7 million aggregate principal amount of the Company’s 5.00% Senior Notes due December 2026 owned by it (the “ Exchanged Notes ”) for approximately $87.7 million aggregate principal amount of newly-issued 8.00% Senior Secured Second Lien Notes due 2028 (the “ New Notes ”)

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101 debt financings filed in the last 30 days. Browse all debt financings →

BRC Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-027230

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