BRC Group Holdings, Inc. (RILY): M&A transaction — B. Riley sells GlassRatner for $117.8M, expects $66M gain; exchanges $28M notes for $13M new notes

BRC Group Holdings, Inc.

Sold GlassRatner advisory business to TorQuest Partners for $117.8M cash; expects ~$66M gain on sale in Q2 2025.
Exchanged $28M aggregate principal of 5-6% senior notes due 2026/2028 for $13M new 8% senior secured second-lien notes due 2028.
Issued warrants to purchase 52,000 shares of RILY common stock at $10.00 per share to the exchanging investor.
Proceeds to support growth in BRS investment bank and B. Riley Wealth Management; transition services agreement for up to 6 months.
GlassRatner recorded record results in 2024 and has ~200 employees; TorQuest Fund VI is C$2.3B.

item 1.01 item 2.01 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BRC Group Holdings, Inc. completed a disposition involving Gallop U.S. Acquireco Inc. and 1001243443 Ontario Inc. for $117.8 million (closed 2025-06-27).

Action: disposition
Counterparty: Gallop U.S. Acquireco Inc. and 1001243443 Ontario Inc.
Consideration: $117.8 million
Closing: 2025-06-27

Exact text from the filing

Advisory Inc., an Ontario corporation (“Farber”), to the Farber Buyer. The aggregate purchase price paid by the Buyers for the interests of GlassRatner and shares of Farber was $117.8 million in immediately available funds. The amount of the purchase price paid at the Closing was based upon estimates of the amount of cash, indebtedness, transaction expenses and

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

BRC Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-061210

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.