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 1.01item 2.01item 7.01item 8.01item 9.01

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.