---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-003900"
form_type: "8-K/A"
ticker: "RILY"
cik: "0001464790"
company_name: "BRC Group Holdings, Inc."
filed_at: "2026-01-13T23:59:59+00:00"
generated_at: "2026-05-16T10:39:11.266341+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# BRC Group pro forma shows GlassRatner sale worsened net losses across 2022-2024

## Summary
- Sale removed $92.2M in services fees (2024); operating loss increased by $21.8M after disposal.
- Pro forma net loss available to common: 2024 $914M vs $900M; 2023 $167M vs $157M; 2022 $281M vs $278M.
- Company used ~$32.9M of proceeds to repay Oaktree term loan, saving ~$3.8M in annual interest.
- Transition services agreement with buyer provides estimated fees for six months post-close.
- GlassRatner was substantially all of the Financial Consulting segment; now reported as discontinued ops.

## SEC filing metadata
- accession: 0001213900-26-003900
- form_type: 8-K/A
- ticker: RILY
- cik: 0001464790
- company_name: BRC Group Holdings, Inc.
- filed_at: 2026-01-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390026003900/0001213900-26-003900-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390026003900/ea026946601-8ka1_briley.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-003900
- JSON: https://secwatch.observer/filing/0001213900-26-003900.json
- Plain text: https://secwatch.observer/filing/0001213900-26-003900.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.