---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-003901"
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: "2026-05-16T10:39:07.967783+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# BRC Group (f/k/a B. Riley) completes sale of Wealth W-2 business to Stifel for $26M cash

## Summary
- Net cash consideration of $26.0M; 36 advisors with $4.0B in AUM as of March 31, 2025.
- Pro forma shows six-month June 30, 2025 net income available to common shareholders of $51.0M vs $52.8M as reported.
- Pro forma for FY2024 net loss available to common shareholders of $907.9M vs $899.9M as reported.
- Approximately $13.25M of proceeds used to repay Oaktree term loan; effective interest rate adjustments included.

## SEC filing metadata
- accession: 0001213900-26-003901
- 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: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464790/000121390026003901/0001213900-26-003901-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464790/000121390026003901/ea026946603-8ka1_briley.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-003901
- JSON: https://secwatch.observer/filing/0001213900-26-003901.json
- Plain text: https://secwatch.observer/filing/0001213900-26-003901.txt

## Key facts
- M&A Transactions
  BRC Group Holdings, Inc. completed a disposition involving Stifel, Nicolaus & Company, Incorporated for $26.0 million in cash (closed 2025-04-04).
  - Action: disposition
  - Counterparty: Stifel, Nicolaus & Company, Incorporated
  - Consideration: $26.0 million in cash
  - Closing: 2025-04-04
  source text: Effective April 4, 2025, the Company completed the sale of its traditional (W-2) Wealth Management business (“Wealth W-2 Transaction”) to Stifel, Nicolaus & Company, Incorporated for net consideration of $26.0 million in cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464790/000121390026003901/0001213900-26-003901-index.htm

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