{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-027230","form_type":"8-K","ticker":"RILY","cik":"0001464790","company_name":"BRC Group Holdings, Inc.","filed_at":"2025-04-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.373447+00:00","generated_at":"2026-05-24T00:42:52.330564+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"B. Riley exchanges ~$123M in 2026 notes for $87.7M of 8% secured notes due 2028 and common stock warrants","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-027230","json":"https://secwatch.observer/filing/0001213900-25-027230.json","markdown":"https://secwatch.observer/filing/0001213900-25-027230.md","text":"https://secwatch.observer/filing/0001213900-25-027230.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1464790/000121390025027230/0001213900-25-027230-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1464790/000121390025027230/ea0235978-8k_briley.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T00:42:52.330564+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":"3108bd83fa358d0219778e7f7b2018b2d2827313","claim":"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.","evidence_excerpt":"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 ”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1464790/000121390025027230/0001213900-25-027230-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"approximately $87.7 million aggregate principal amount"},{"label":"Counterparty","value":"institutional investor"},{"label":"Rate","value":"8.00% per annum"},{"label":"Maturity","value":"January 1, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}