B. Riley exchanges ~$139M notes for $93.1M new 8% notes; gets Nasdaq delinquency notice

BRC Group Holdings, Inc.

Exchanged ~$139M aggregate principal of 5.00-6.00% notes due 2026-2028 for ~$93.1M of new 8.00% Senior Secured Second Lien Notes due 2028.
Issued warrants to purchase 372,268 shares of common stock at $10.00 per share in connection with the exchange.
Received Nasdaq delinquency notice for delayed 10-K (2024) and 10-Q (Q1 2025); must submit compliance plan by June 2, 2025.
Nasdaq staff may grant exception until September 29, 2025 to regain compliance; listing not immediately affected.

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