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BRC Group Holdings (formerly B. Riley Financial): Kahn, Franchise Group, subpoenas and asset sales

BRC Group Holdings: participants and roles

Founders, officers, subsidiaries, lenders, investees, regulators and parties to proceedings connected with BRC Group Holdings (formerly B. Riley Financial), with the period, status and source of each role.

published
25 oct 2026
records as of
17 oct 2026
entities
203
sources
116
cite entities.csv
Chief Financial Officer and Chief Operating Officer (+2)Independent director; re-elected at the May 19, 2026 annual meeting (+1)DirectorDirectorCo-founder; Chief Executive Officer and President from inception and Chairman until the company's private acquisitionHolder of more than 5% with associated persons: 8.8% (March 2023), 8.5% (May 2024) and 8.7% together with DBA Trading, LLC (March 26, 2026); reported as a ten percent owner in 2014Holder of more than 5%: 10.1% (March 27, 2023) and 9.5% (May 2, 2024)Independent director; re-elected at the May 19, 2026 annual meeting (+1)Senior member of the legal teamChief Legal OfficerChief Legal Officer and Head of Business and Legal AffairsChief Legal Officer (EDGAR report)Parent company (Delaware subsidiary that sold GlassRatner in June 2025)Parent company (wholly owned subsidiary and co-borrower under the 2021 Nomura agreement)Parent company (Delaware subsidiary on the seller side of the 2025 recycling sale)Parent company (New York subsidiary)Owner of 75% or more and parent of the brokerage, which ceased business on December 31, 2018Parent company (Delaware subsidiary)An affiliate of B. Riley Financial sponsored the special purpose acquisition companyParent company (SPAC sponsor listed among Delaware subsidiaries)Indirect parent of the broker-dealer, through BR Financial Holdings and B. Riley Securities Holdings; about 92% owned per the April 2026 announcementParent company (Delaware subsidiary under common control with B. Riley Securities from December 12, 2024)Parent company (Washington subsidiary)Parent company (Delaware subsidiary)Parent company (wholly owns the wealth-management holding company)Parent company of the Israeli telecom subsidiary (65% of its shares pledged under the BRPAC facility); EDGAR lists a 2018 more-than-10% owner reportAcquirer: tender offer and merger making National Holdings a wholly owned subsidiaryParent company (Washington subsidiary; sister company of B. Riley Wealth Management)Parent company (Delaware subsidiary; member of the recycling companies sold in 2025)Indirect owner of 75% or more, as parent of B. Riley Securities HoldingsClears trades on a fully disclosed basis through National Financial Services LLCDirect parent, owning 75% or more (wholly owned subsidiary per the February 2026 Form 4)Parent company (100%)DirectorIndependent director; did not stand for re-election in 2026 (+1)President (with the company since 1990)Reported, with Elliott International, L.P., as a ten percent owner of Great American Group, Inc.Agreed to merge with the special purpose acquisition company to go public (plans announced by December 2021; combined company FaZe Holdings)Executive Vice President, General Counsel and Secretary; retired and succeeded by Fred Knopf (+1)General Counsel (FINRA executive-officer listing; the firm ceased business on December 31, 2018)PartnerVice President and General Counsel, then Senior Vice President and General CounselCo-Chief Executive Officer (+5)President and member of the Board of ManagersChief Executive Officer (+2)Co-Executive Chairman and director (+1)Registered with the investment adviserIndirect holder of 13,768 FRG shares (Form 3 of August 17, 2023), sold at the August 21, 2023 closing; listed in the ten-percent-owner category in a report dated August 7, 2023Registered with the investment adviserDirector (EDGAR report as Special Diversified Opportunities Inc.)Executive Vice President, General Counsel and SecretaryIndependent director; re-elected at the May 19, 2026 annual meeting (+1)Director (EDGAR report)DirectorDirectorCo-founder of the venture fund; partner of Rustic Canyon/Fontis Partners from 2006 to 2021DirectorDirectorReported as a ten percent ownerCo-PresidentHolder of more than 5% with associated persons (Neil S. Subin): 6.5% (March 27, 2023) and 6.0% (May 2, 2024)Reported as a ten percent owner of Great American Group, Inc.Executive officer of BRC as Chief Executive Officer of B. Riley Securities; not re-appointed in 2026 (+1)Institutional sales professional; Director of Sales from 2011Chief Executive Officer, then Co-Chief Executive Officer from September 18, 2025 (+2)Chairman of the boardRegistered representativeRegistered with the investment adviserPresident (promoted from Head of Investment Banking; listed by FINRA as Co-President)Reported as a ten percent ownerBrought case 2024-07 over a protective measure under OCC Rule 307 and late financial reporting; settled by consent with a $20,000 sanctionIndependent director and Audit Committee member; re-elected at the May 19, 2026 annual meeting (+1)Director (one of two directors named in the 2021 Form D) (+1)DirectorDirectorManaging PrincipalDirectorDirectorGeneral Counsel and Chief Compliance OfficerFormer director, on the board together with Michael Sheldon about fifteen years before the 2025 derivative case (as recited by the court from the complaint)Borrower under a personal credit agreement secured by a pledge of BRC shares (4,389,553 shares from 2019, 5,804,124 from 2023); repaid in part from a February 2026 sale of B&W shares, pledge released and agreements terminated by March 2026Listed in the ten-percent-owner category for Biomerica (report dated August 25, 2026)Chief Executive Officer (sole) (+5)Chief Executive Officer and member of the Board of Managers (+1)Chief Executive Officer (+2)Chairman of the special purpose acquisition company (combined with FaZe Holdings)Chairman of the special purpose acquisition companyCo-Executive Chairman (+2)Registered with the investment adviserRegistered with the investment adviserDirectorDirectorControllerSettled proceeding over an undisclosed payment for research coverage by the predecessor FBR; censure, cease-and-desist order and $125,000 penalty (+1)Director (EDGAR report)Independent director; did not stand for re-election in 2025Chief Executive OfficerChief Financial OfficerIndependent director; re-elected at the May 19, 2026 annual meeting (+1)Director (+1)Chief Commercial OfficerDirectorDirectorSenior Vice President and Chief Accounting Officer (+1)Director (EDGAR reports, latest June 20, 2023)Director and officer after the merger with the Wunderlich companies; resigned under a severance agreement (+1)Executive Vice President and Chief Financial Officer (+1)Chief Financial OfficerChief Financial Officer (recorded in EDGAR as interim CFO)Chief Financial Officer (recorded in EDGAR as interim CFO)Director and Chief Executive Officer reports in EDGAR (2019), after serving as CEO of the SPAC that combined with Alta Equipment GroupDirectorChief Executive OfficerDirectorDirector (EDGAR report)Director (of Liberty Tax, Inc., later Franchise Group)DirectorDirectorDirectorDirectorThrough a then-subsidiary, sold merchandise and fixtures at Badcock stores and facilities under the Conn's consulting agreement (+1)Wholly owned subsidiary (B. Riley Commercial Capital, LLC)Indirect wholly owned subsidiary (B. Riley Receivables, LLC)Majority-owned subsidiary until its sale to Freedom VCM Receivables at the take-privateLiquidation consultant: a then-subsidiary sold merchandise and fixtures at Conn's and Badcock stores under a consulting agreement, earning $26.1 million until the subsidiary was sold with the Great American Group business (+1)Reported to the SEC as a holder of more than 10% of Liberty Tax, Inc. (now Franchise Group, Inc.) (+3)Alleged co-investor with Vintage Capital Management in Liberty Tax, Inc. (renamed Franchise Group): partnered to buy 37% in 2017 and acquired a controlling interest in July 2019 (class plaintiffs); jointly acquired control from 2018 and bought 1 million FRG shares in 2019 (FRG Litigation Trust)Committed under an equity commitment letter to contribute $560.0 million in cash to the company immediately before the merger, with the right to assign part of the commitment (+2)Guaranteed to FRG, up to $57.0 million, the merger obligations of this company as merger parentSold, with the other holders, all equity of B. Riley Receivables II to this Freedom VCM subsidiary for $58.9 million, paid with a non-recourse 19.74% note of another Freedom VCM affiliate that was cancelled on October 9, 2024Long-standing business associate: an early brokerage client, then a partner whose deals B. Riley financed or underwrote (a 2018 Rent-A-Center bid, a 2022 Kohl's bid, the 2023 FRG buyout), as described by class plaintiffs and press reports (+1)Co-member of the buyer consortium in the FRG take-private: Bryant Riley met Kahn on March 16–17, 2023 and B. Riley proposed $30.00 per share on March 19; the parties agreed that Kahn would control the surviving company while B. Riley financed without control, signed the Interim Investors Agreement with him and co-filed the Schedule 13E-3 (+2)Plaintiff, with subsidiaries, suing her for breach of contract over the FRG take-private (Supreme Court of the State of New York, New York County)Co-participant in Babcock & Wilcox's 2018 rights offering, according to a short seller's report (+2)Lender, through a subsidiary, under the amended and restated promissory note: $200.5 million principal at 12% paid in kind, maturing December 31, 2027 (with the $20.9 million Kahn owed under the terminated advisory agreement added); impaired by $222.9 million in 2024; the remaining collateral was sold in February 2026 for $1.855 million and no further collections are expectedHolder of the transferred Torticity note; fully impaired, with no fair value at June 30, 2026Lender of $36 million to Vintage under a second-lien promissory note, amended on August 9, 2023 to add $19.2 million, as alleged by the FRG Litigation TrustAffiliate of BRPI, as described by FRG's chief restructuring officer, until its sale at the take-privateEquity investor that, with its affiliates, owned about 58.9% of Freedom TopCo's equity after the take-private, according to FRG's chief restructuring officer (BRC reports a 31% voting interest held by its subsidiaries)Payee, with a minority owner of B. Riley Receivables II, of the note given for that company's purchase and party to the amended and restated funding agreement of December 18, 2023; a BRPI affiliate received about $15.3 million of receivables and the note was cancelled in early October 2024Lender: committed $15.0 million of a $25.0 million loan bearing 15.00% a year and transferred the note to B. Riley Commercial CapitalBought W.S. Badcock's existing consumer credit receivables portfolio for $400 million in cash under a master receivables purchase agreementBought $168.4 million of consumer credit receivables under a second master receivables purchase agreement, partly financed with a $148.2 million term loan, and $145.3 million more in early 2023Holder, as B. Riley FBR, Inc., of 1,000,000 FRG shares listed in the registration rights agreement scheduleFellow member, as B. Riley FBR, Inc., of the "Vintage Group" with Brian and Lauren Kahn as tenants by the entiretyFellow member, as B. Riley FBR, Inc., of the "Vintage Group" defined in Amendment No. 2 to FRG's registration rights agreementDebtor whose special committee directed an independent investigation of potential claims arising from, among other things, the take-private, the BRRII acquisition and other transactions with BRPI and its affiliatesFranchisor of bebe's rent-to-own stores and supplier of their inventory: charged royalty, marketing and IT fees of $3.3 million in 2025 and $4.9 million in 2024 and sold bebe $9.0 million and $15.3 million of inventory in those yearsIndirect parent of FRG after the take-private; both filed Chapter 11 on November 3, 2024 (Freedom VCM Holdings case 24-12496 under FRG's lead case 24-12480, terminated October 6, 2025)Parent: FRG became its wholly owned subsidiary on the mergerFinancial adviser under an investment advisory agreement with B. Riley, with sole power to vote or dispose of FRG shares worth $64.6 million held of record by B. Riley Securities; terminated at closing, when the $20.9 million he owed under it was added to the VCM notePledgor, with his wife, of about 7.1 million FRG shares as collateral for B. Riley Financial loans and personal guarantor of Vintage's loan at the 2023 closing, as alleged by the FRG Litigation TrustResearch client of B. Riley from 1997, after founding Kahn Capital Management, according to Bryant Riley's 2024 accountReported as director and 10% owner of Babcock & Wilcox Enterprises, Inc.President and chief executive officer from 2019 and director from 2018 (Liberty Tax, Inc., renamed Franchise Group) (+1)Controlled the company as its sole director and executive officer (July 2023 merger proxy) and signed as its President (+1)President (signature of August 21, 2023), then chief executive officer and director until his resignationManager (signed the August 2023 Schedule 13D amendment for the company) (+1)Spouses; joint holders, as tenants by the entirety, of FRG shares (1,000,000 in the 2019 Vintage Group schedule; 7,576,543 rolled over in 2023)Sub-adviser to Prophecy Asset Management, allocated most of its capital; charged in November 2025 and pleaded guilty on December 10, 2025 to one count of conspiracy to commit securities fraud in connection with his activities as a Prophecy sub-adviserFounder and investment manager; manager who signed its filings (+1)President (July 2023 merger proxy) and Manager (signing the August 21, 2023 Schedule 13E-3 amendment)Member owning 75% or more of Vintage Capital ManagementJoint holder with Brian Kahn of 1,000,000 FRG shares listed in the registration rights agreement scheduleDirector (Liberty Tax, Inc., renamed Franchise Group) (+2)Rollover stockholder: committed 573,482 FRG shares ($17.2 million) for common membership interestsPartner (merger proxy) and manager (Form ADV)Pledgor, with Brian Kahn, of FRG shares for B. Riley Financial loans (about 7.1 million shares on April 24, 2020; 5,061,255 pledged shares held at B. Riley Wealth Management under an August 7, 2023 control agreement) and personal guarantor of Vintage's loan at closing, as alleged by the FRG Litigation TrustShareholder while a B. Riley director: filed a Form 3 for 40,000 FRG shares and a Form 4 disposing of all of them on the closing date; his EDGAR record also lists a 10% owner report on FRGDirector of Babcock & Wilcox Enterprises, Inc. (+1)Director and reported 10% owner of Liberty Tax, Inc. (renamed Franchise Group); class plaintiffs say he resigned on March 31, 2020, the day Prophecy suspended redemptions (+1)Director: rejoined the board in August 2023 and resigned in June 2025 after the November 3, 2024 bankruptcy filings; the 2026 proxy also attributes his September 2018 – March 2020 board seat to this companyPlaintiff in SEC v. Prophecy Asset Management, LP, Jeffrey Spotts, and Brian Kahn (D.N.J. No. 3:25-cv-16058), alleging advisory and securities fraud; stayed at the United States' request and recorded as terminated on May 19, 2026, with no merits ruling in the recordPlaintiff in SEC v. Prophecy Asset Management, LP, Jeffrey Spotts, and Brian Kahn (D.N.J. No. 3:25-cv-16058); stayed and recorded as terminated on May 19, 2026, with no merits ruling in the recordRollover stockholder: committed 2,500,000 FRG shares ($75.0 million) for common membership interestsIndirect parent: acquired Wunderlich Securities, Inc. (renamed B. Riley Wealth Management in 2018) with Wunderlich Investment Company on July 3, 2017; held through B. Riley Wealth Management Holdings, Inc.Plaintiff, with five subsidiaries, in a New York Supreme Court suit alleging aiding and abetting fraud, civil conspiracy and aiding and abetting breach of fiduciary duty over the 2023 Franchise Group take-private (pending; no ruling in the records)Lender under a bridge loan agreement of September 30, 2022; about $32.2 million of the borrower's payments are the subject of the liquidating trustee's pending preference suit (motion to dismiss denied September 12, 2025)Acquired 100% of the equity of the reorganized Nogin (Nogin Commerce LLC) as plan sponsor under the Chapter 11 plan effective May 3, 2024 (+1)Personal and professional relationship of about 20 years (Lehigh University, the same fraternity, social meetings) acknowledged in a directors' and officers' questionnaire, as recited by the Court of Chancery from a derivative complaint; the court held this did not show that D’Agostino lacked independenceClaimant in a FINRA arbitration against Wunderlich Securities (now B. Riley Wealth Management) and Gary Wunderlich over the 2015 acquisition of Dominick & Dickerman; award of April 7, 2020 of about $10.5 million, then a confidential settlement of June 3, 2020Financial adviser to Franchise Group on the consumer loan receivables originated and serviced by W.S. Badcock, as described in the FRG Litigation Trust's complaintBusiness associates: by Riley's account they met in 1997 when Kahn, founder of Kahn Capital Management, was a B. Riley research client, and Riley calls Kahn no more than a business associate; they met in person on March 16 and 17, 2023 to discuss B. Riley's interest in acquiring Franchise GroupDivision of Corporation Finance completed its review of the company's Form 8-K filed April 8, 2024 (routine review-completion letter, not a finding) (+1)Issued document subpoenas to Bryant Riley on July 3 and November 22, 2024, the second also covering his personal loan and pledge of company shares (requests for information; no finding in the records)Friendship disclosed on a directors' and officers' questionnaire and earlier joint service on the Aldila, Inc. board, as recited by the Court of Chancery from a derivative complaint; the court held these ties did not show that Sheldon lacked independencePlaintiff naming Matthew Avril as a defendant over the 2023 take-privatePlaintiff suing the company (as B. Riley Financial) for aiding and abetting Kahn's fraud and breaches of fiduciary duty, unjust enrichment and civil conspiracy over the 2023 take-privatePlaintiff naming B. Riley Securities, Inc. as a defendant in its civil-conspiracy count over the 2023 take-privatePlaintiff naming GlassRatner Advisory & Capital Group, LLC (d/b/a B. Riley Advisory Services) as a defendant over the 2023 take-privatePlaintiff naming Jefferies LLC as a defendant over the 2023 take-privatePlaintiff suing Franchise Group's former chief executive Brian Kahn over the 2023 take-privatePlaintiff suing Bryant Riley for aiding and abetting breach of fiduciary duty and fraud, unjust enrichment, unlawful distribution and civil conspiracy over the 2023 take-privatePlaintiff naming Willkie Farr & Gallagher LLP as a defendant over the 2023 take-privateCounsel to Franchise Group, including in its Chapter 11 case until the Delaware Bankruptcy Court disqualified the firm on February 12, 2025, as described in the FRG Litigation Trust's complaint and a press reportCounsel to Brian Kahn in the 2023 Franchise Group take-private (Kahn met B. Riley with his Willkie counsel on April 18, 2023)Independent counsel retained by the company's Audit Committee to investigate transactions between Brian Kahn and his affiliates and the company; investigation completed by mid-March 2024 and its findings disclosed in April 2024Founder; director and officer of Wunderlich Securities, Inc. (now B. Riley Wealth Management) after the 2017 merger until he resigned all positions under a severance agreement of November 4, 2018 (+1)Purchaser of the membership interests of Atlantic Coast Recycling, LLC and Atlantic Coast Recycling of Ocean County, LLC (base price $96,454,261 before adjustments)Counterparty purchaser to the March 1, 2025 membership interest purchase agreement in which B. Riley Financial, Inc. was a seller-side partyAgent and lender under BRPAC's telecom credit agreement, amended and restated on January 6, 2025 with a new five-year $80 million term loan (+1)Administrative agent and lender for Lingo's August 16, 2022 term loan ($45 million, raised to $73 million), repaid on January 6, 2025, when Lingo was added as a borrower under the amended and restated BRPAC credit agreementIndependent registered public accounting firm for 2025 and 2026: approved by the Audit Committee on September 8, 2025 after an independence assessment, and ratified by stockholders for 2026 on May 19, 2026Asset vehicle manager under the note purchase and security agreement entered into by BR Funding Holdings 2024-1 LLC on October 25, 2024Owned all membership interests of GlassRatner Advisory & Capital Group and sold them to Gallop U.S. Acquireco Inc.Owned all shares of B. Riley Farber Advisory Inc. and sold them to 1001243443 Ontario Inc.Transferred and contributed to BR Funding Holdings 2024-1 LLC 80% of BR Brand Holdings LLC, 42.91% of HRLY Brand Management LLC, 40.85% of Justice Brand Management LLC and 10.29% of S&S Brand Management LLC, at a fair market value agreed by the partiesMajority owner, through BR Financial Holdings, B. Riley Environmental Holdings and ReVal Group, of Atlantic Coast Recycling, LLC until its sale on March 3, 2025 for $102.5 million (BRC cash proceeds $68.6 million)Secured guarantor of Lingo Management's term loan from Banc of California under the August 16, 2022 credit agreement ($45 million, raised to $73 million), repaid on January 6, 2025Majority owner of bebe stores, inc. (California; owned less than 100%) since October 6, 2023; received the remainder of the October 2024 brand-sale proceeds as a dividendParent of B. Riley Advisory US, Inc. (Delaware), the subsidiary that sold B. Riley Farber Advisory in June 2025Parent of B. Riley Brand Management, LLC (Delaware), the subsidiary that transferred the brand interests in the October 2024 Brands TransactionSole owner of BR Financial Holdings, LLC (Delaware), its co-borrower under the 2021 and 2023 Nomura credit agreements and the 2025 Oaktree credit agreementParent of BRPI Acquisition Co LLC (Delaware), borrower under the Banc of California telecom credit agreement and named borrower in the September 2026 New Telecom Facility commitmentSole owner of B. Riley Principal Investments, LLC (Delaware), its principal-investment subsidiaryHeld about 25.0% of California Natural Resources Group and guaranteed up to $7.375 million of its bank credit facility; sold the stake for $9.272 million on May 23, 2024Issued common stock to DBA Trading in exchange for its holdings of BRC's senior notes under Section 3(a)(9): five exchanges from February 6 to March 26, 2026 and further exchanges in the second quarter, in all $69.1 million principal for 8,358,495 shares in the first half of 2026Indirect parent, through B. Riley Advisory US, of B. Riley Farber Advisory Inc. (Ontario) until its sale on June 27, 2025Equity-method investor with board representation after the November 2024 sale of control: 38.4% of Great American Holdings at December 31, 2025 and June 30, 2026; its common and preferred interests in GA Holdings are the main collateral for the Oaktree term loan (+2)Indirect parent, through B. Riley Advisory Holdings, of GlassRatner Advisory & Capital Group, LLC, which did business as B. Riley Advisory Services from the September 2020 rebranding until its sale on June 27, 2025Lists Nogin Holdings, LLC (Delaware) among its subsidiaries in Exhibit 21.1 to the 2025 annual reportAcquired all issued shares of Targus Cayman Holdco Limited on October 18, 2022; Targus borrows under its own revolving facilities and from BRC subsidiary B. Riley Commercial Capital (+1)Subordinated intercompany lender to Targus: loan raised from $5.0 million to $10.0 million at the FGI closing on August 20, 2025 and to $12.0 million on March 13, 2026Owned all units of Great American Holdings before the October 13, 2024 equity purchase agreement, in which it was a seller and the sellers' representativeCollateral agent under BRC's August 21, 2023 credit agreement with Nomura as administrative agent ($500 million term loan and $100 million revolving facility)Holder of more than 5% of the common stock together with Daniel Asher: 3,017,041 shares (8.7%) as of March 26, 2026, after its holding passed 5% with the exchange of March 10, 2026Agent under Targus's three-year $30 million revolving credit, receivables purchase, security and guaranty agreement of August 20, 2025, secured by all assets of the loan partiesAcquired all membership interests of GlassRatner Advisory & Capital Group under the equity purchase agreement of June 27, 2025Trustee and collateral agent for BRC's 8.00% Senior Secured Second Lien Notes due January 1, 2028 ('New Notes'), issued in five 2025 exchanges under the indenture of March 26, 2025Bought bebe's 50.00% interest in BB Brand Holdings LLC ($33,500,000) and 28.53% interest in BKST Brand Management LLC ($13,124,420)Seller-side party to the March 1, 2025 membership interest purchase agreement with the purchaser of the recycling companiesIndependent auditor from the fiscal year 2006 through the 2024 audit; dismissed by the Audit Committee on September 8, 2025, effective on completion of the 2024 audit, with no disagreements reportedIts Listing Qualifications Staff sent five Staff Determination Letters for late periodic reports (April 3 to November 21, 2025); a Hearings Panel granted continued listing on conditions on November 18, 2025, and Nasdaq confirmed regained compliance with a one-year Mandatory Panel Monitor on January 27, 2026 (+1)Administrative agent for the lenders under BRC's credit agreements of June 23, 2021 (with BRFH and BR Advisory & Investments; $300 million term loan and $80 million revolver) and August 21, 2023 (with BRFH; $500 million term loan and $100 million revolver, amended September 17, 2024); the remaining Nomura debt was repaid from the Oaktree loan in February 2025Administrative and collateral agent for the lenders under the February 26, 2025 credit agreement with BRC and BR Financial Holdings, including Amendment No. 6, Consent and Waiver, of September 28, 2026 for the Sangoma acquisitionOaktree funds backed, through equity commitment letters, the three buyer vehicles that acquired control of Great American Holdings from BRC's subsidiary BR Financial Holdings under the agreement of October 13, 2024, to which BRC was a party as ultimate parent for one section (+2)Signs for OCM SSF III Great American PT, L.P. as director of its general partner (equity purchase agreement signature block)One of three Oaktree-backed buyers that together acquired all class A preferred units and 52.591% of the class A common units of Great American HoldingsAcquired all shares of B. Riley Farber Advisory Inc. under the equity purchase agreement of June 27, 2025One of three Oaktree-backed buyers that together acquired all class A preferred units and 52.591% of the class A common units of Great American HoldingsAgent and security trustee under Targus's October 18, 2022 credit agreement (five-year $28 million term loan and $85 million revolver); amended seven times after covenant breaches and refinanced in full by the FGI facility on August 20, 2025Member of Atlantic Coast Recycling, LLC and Atlantic Coast Recycling of Ocean County, LLC and a seller-side party to their saleLender of bebe stores' five-year $25 million term loan, consolidated in BRC's term loans from October 6, 2023 and repaid on October 25, 2024 from the Brands Transaction proceedsBought part of BRC's W-2 wealth management business for net cash of $26.0 million in April 2025 and reported adding 36 experienced financial advisors from B. Riley in the second quarter of 2025Party with GlassRatner to a confidentiality agreement effective September 10, 2024, referred to in the June 27, 2025 equity purchase agreementOne of three Oaktree-backed buyers that together acquired all class A preferred units and 52.591% of the class A common units of Great American HoldingsCollateral agent under BRC's June 23, 2021 credit agreement with Nomura as administrative agent (four-year secured term loan and revolving facility)Manager of the limited liability companyBrother of Phil Ahn, BRC's Chief Financial Officer and Chief Operating Officer until June 3, 2025Chief Financial Officer (signed the Dash subscription agreement)Shareholder: about 10% of Base Electron's equity, issued as partial consideration for Applied Digital's performance guarantee (valued at $2.0 million) (+1)Commitment party, with Banc of California and Israel Discount Bank of New York, for $212,255,000 of senior secured term loans to BRPI Acquisition Co LLC and the other telecom borrowers (New Telecom Facility)Later register record reproduced by a second short seller lists Base Electron's officers at a Dallas address that Base Electron shares with Applied DigitalRegister entry reproduced by a short seller listed Base Electron's directors at BRC's business address, 11100 Santa Monica Blvd., Suite 800, Los Angeles; a later record gives a Dallas addressHolder of a warrant for 5,230,000 B&W shares, issued directly to Base Electron after Applied Digital assigned its purchase rightIndependent registered public accounting firm (appointment put to shareholders for ratification)Bought 605,000 Applied Digital shares on the open market for about $1,663,900Reported as a more-than-10% owner (EDGAR owner page)Underwriter and financial adviser ($393 thousand of fees in 2024); Applied Digital was a related party while its chief executive and later another director were BRC subsidiary managers (+1)Holder of equity interests in Arena, sold together with its loans (+1)Guarantor in favour of Axos Bank, as administrative agent for B&W's lenders, of B&W's credit-agreement obligations (capped at $150,000,000)Indirect holder through B. Riley Principal Capital; reported as a more-than-10% ownerPrimary beneficiary that consolidates the trust as a variable interest entity; owns 13.3% of its equity (BRC's related parties 58.2%)Parent (wholly owned subsidiary)Parent, indirectly through B. Riley Securities Holdings, Inc.Parent (Delaware subsidiary listed in Exhibit 21.1)Reported as a more-than-10% owner (EDGAR owner page)Majority shareholder of the broker-dealer holding company: wholly owned until a March 10, 2025 shell merger issued 0.6% to outside investors; 89.4% at that date, 90.7% at December 31, 2025 and 92.9% at June 30, 2026 (assuming full vesting)B. Riley-affiliated holders held about 30% of B&W after B&W's 2018 rights offering (short seller's account)Guarantor of B&W obligations under B&W's credit agreement with Axos Bank as administrative agent, capped at $150,000,000, for a fee of 2.00% of the revolving commitments; obligations suspended on June 18, 2025 (+5)Minority equity holder: interest bought for $2,400,000 through B. Riley Principal Investments as part of director Randall E. Paulson's acquisition of Dash; sold for $2,760,000 with Audit Committee approval (Paulson excluded) (+1)Holder of DoubleDown Interactive shares ($18.8 million)Lender: bought a $20 million share of Enovum's delayed-draw term loan for $19.4 million (9.50%, due August 24, 2026, minimum return 1.1 times principal)Reported as a more-than-10% owner (EDGAR owner page)Lender through subsidiaries: $31.5 million loan of February 27, 2023 by B. Riley Commercial Capital at Term SOFR plus 7.50%, later assigned to another BRC subsidiaryReported as a more-than-10% owner (EDGAR owner page)Co-lender: committed $24.7 million of a $52 million credit facility at 10.00% paid in kind; repaid in fullParent (telecommunications subsidiary listed in Exhibit 21.1; borrower under the telecom credit facilities) (+1)Parent (wholly owned Ontario subsidiary acting as purchaser of Sangoma)Reported as a more-than-10% owner (EDGAR owner page)Acquirer, through 1001755979 Ontario Inc., under an arrangement agreement: 0.04767 BRC share and US$4.925 in cash per Sangoma share (enterprise value about US$204 million); closing expected in January 2027 (+1)Reported as director and more-than-10% owner (EDGAR owner page)Reported as a more-than-10% owner (EDGAR owner page)Holds, through subsidiaries, carried interest in client special purpose vehicles invested in SpaceX (about $233 million invested by clients; gross value of the carried interest about $84.2 million on June 12, 2026)Equity-method investor: 22.6% ($7.0 million)Shareholder through subsidiaries: reported as a more-than-10% owner in 2021; below 5% after March 14, 2025, when B. Riley Principal Investments held 15,000 shares and B. Riley Securities 496,474Reported as a more-than-10% owner (EDGAR owner page)Parent (telecommunications subsidiary listed in Exhibit 21.1)Lender through a subsidiary: XBP Americas became borrower of the restructured Exela loan ($9.5 million principal at June 30, 2026, due September 30, 2026)Successor that took over the partnership's assets and liabilities in order to liquidate themShareholder: 11,873,160 B&W shares (counted in BRC's 20.4% holding)Shareholder: 3,615,062 shares and warrants for 325,000 shares, together 7.1% of the common stockNote holder party, with B. Riley Securities, to a note repurchase agreementBought 120,000 Applied Digital shares from Wes Cummins ($1,831,200); investor party to the preferred equity purchase agreement (sixth amendment, June 26, 2026)Shareholder: bought 460,080 shares at $1.60 in a private placement (10.03%; Item 5 of the Schedule 13D gives 480,060); entitled to appoint a board representativeInvestor under a registration rights agreementInvestor under a registration rights agreementInvestor under a registration rights agreementInvestor under a registration rights agreementParty to a securities purchase agreementInvestor under a registration rights agreementInvestor under a registration rights agreementBought 160,000 Applied Digital shares from Wes Cummins at $15.26 a share ($2,441,600) (+1)Subscribed for 2,400 Class A units at $1,000 each ($2,400,000)Sole member of the SPAC sponsorProvider of Kenneth M. Young as B&W chief executive under a consulting agreement; received a $1,000,000 retention bonus from B&W in 2022Exclusive financial adviser on potential strategic transactions for an initial term of 24 monthsFinancial adviser under an advisory agreement described in B&W's 2026 proxy: $500,000 cash fee and 3% of the value of any completed financing (+1)Exclusive financial adviser for a possible sale or recapitalization; earned a $2,650,000 advisory fee on the sale of Q-MationNote holder party, with BRF Investments, to a note repurchase agreementParent companyBought 120,000 Applied Digital shares from Wes Cummins ($1,831,200); investor party to the preferred equity purchase agreement (sixth amendment, June 26, 2026)Contractor under a limited notice to proceed for four 300-megawatt power plants; issued Applied Digital 0.5 million shares and warrants in connection with itContractor under a definitive agreement for four 300-megawatt natural-gas power plants for an AI factory, total consideration $2.4 billionDesign-build contractor for a power plant of about 1.2 GW under a Design-Build AgreementAssociate (employee); compensation $217,785 for 2023, $246,129 for 2024 and $297,269 for 2025Son of Bryant RileyDirector from incorporation and President from March 2026, per register records reproduced in two short sellers' reportsPresidentSeller of 160,000 Applied Digital shares to BRPI under a stock purchase agreement (400,000 shares in all to three BRC subsidiaries)Commitment party, with Banc of California and Axos Bank, for $212,255,000 of senior secured term loans to BRPI Acquisition Co LLC and the other telecom borrowers (New Telecom Facility)Controls the limited partnershipPurchaser of all Sangoma shares under a court-approved plan of arrangementSeller, jointly with his spouse and a Riley family trust, of 1,155,382 B&W shares for $10,398,438 under a stock purchase agreement; approval of BRC's Audit Committee was the only consent requiredWith his affiliates, holder of more than 5% of Arena's sharesDirector, as listed in a Nevada register entry reproduced by a short seller and alleged by class-action plaintiffs; Applied Digital and B&W filings do not name himCo-Chief Executive Officer (signed the September 3, 2025 stock purchase agreement in that capacity)Authorized signatory (signed the arrangement agreement)Sponsor holding the SPAC's founder securitiesInvestment adviser to BRC's subsidiary partnerships GACP I, L.P. and GACP II, L.P. (management fees $1,142,000 for 2023 and $2,272,000 for 2024) (+1)Director; resigned on the day BRC acquired Targus, where he remained chief executiveChief Executive Officer (salary about $615,000 after the acquisition)Consultant under a one-year agreement at $250,000 a year after resigning as President (+2)Chief executive services for B&W provided through this B. Riley affiliate's consulting agreement with B&W ($750,000 a year per BRC's proxy)Chief Executive Officer; until September 20, 2024 his services were provided under a consulting agreement between B&W and BRPI Executive Consulting, LLC (+1)VintageOpportunityPartners, L.P.Vintage Opportunity Partners, L.P.Charlie RileyCharlie RileyAndrew M. LaurenceAndrew M. LaurenceKahn CapitalManagement, LLCKahn Capital Management, LLCFreedom VCM, Inc.Freedom VCM, Inc.Riley InvestmentManagementRiley Investment ManagementFranchise Group,Inc.A19Franchise Group, Inc.A19: Chapter 11 filed November 3, 2024 (D. Del.); plan confirmed June 1, 2025, equity cancelledLauren KahnLauren KahnWillkie Farr &Gallagher LLPA24Willkie Farr & Gallagher LLPA24: Defendant in suits by BRC and the FRG Litigation Trust (2026); pendingProphecy AssetManagement, LPA13Prophecy Asset Management, LPA13: SEC civil fraud complaint (September 2025); co-founder pleaded guilty, CEO indictedMatthew AvrilMatthew AvrilJefferies LLCJefferies LLCBanc ofCalifornia, N.A.Banc of California, N.A.BRPI AcquisitionCo LLCBRPI Acquisition Co LLCIsrael DiscountBank of New YorkIsrael Discount Bank of New YorkTorQuest PartnersManagement Inc.TorQuest Partners Management Inc.Globalstar, Inc.Globalstar, Inc.StandardDiversified, Inc.Standard Diversified, Inc.Torticity, LLCTorticity, LLCFreedom VCMHoldings, LLCA20Freedom VCM Holdings, LLCA20: Chapter 11 filed November 3, 2024; equity received nothing under the confirmed plan; case terminated October 2025Vintage CapitalManagement, LLCVintage Capital Management, LLCB. Riley & Co.,LLCA16B. Riley & Co., LLCA16: Six final NASD/FINRA settlements 1998-2009; largest $265,000 in fines (2007)Brian KahnA10 · A11 · A12Brian KahnA10: Pleaded guilty on December 10, 2025 (D.N.J.) to conspiracy to commit securities fraud; awaiting sentencing · A11: SEC civil fraud complaint (D.N.J. 3:25-cv-16058, September 2025); stayed for the criminal case, no judgment · A12: Defendant in suits by BRC (New York, 2026) and the FRG Litigation Trust (Delaware, 2026); pendingU.S. Securitiesand ExchangeCommissionU.S. Securities and Exchange CommissionLodestone CapitalManagementLodestone Capital ManagementFranchise Group,Inc. LitigationTrustFranchise Group, Inc. Litigation TrustSelect InteriorConcepts, Inc.Select Interior Concepts, Inc.Lingo Management,LLCLingo Management, LLCB. Riley Principal150 Merger Corp.B. Riley Principal 150 Merger Corp.FaZe Clan Inc.FaZe Clan Inc.GlassRatnerAdvisory & CapitalGroup, LLCA25GlassRatner Advisory & Capital Group, LLCA25: Defendant in the FRG Litigation Trust suit (2026); pendingGallop U.S.Acquireco Inc.Gallop U.S. Acquireco Inc.BRF Investments,LLCBRF Investments, LLCWesley CumminsWesley CumminsSonimTechnologies, Inc.Sonim Technologies, Inc.Base Electron,Inc.Base Electron, Inc.B. Riley CapitalManagement, LLCB. Riley Capital Management, LLCThomas J. KelleherThomas J. KelleherBryant R. RileyA6 · A7 · A8 · A9Bryant R. RileyA6: SEC document subpoenas (July and November 2024); inquiry pending, no finding of violation · A7: Defendant in the federal securities class action; Section 10(b) claim survived dismissal at the pleading stage · A8: Defendant in the FRG Litigation Trust suit (2026); aiding-and-abetting allegations pending · A9: 1998 NASD settlement with B. Riley & Company: censure and $12,000 joint fine, without admitting or denyingThe Arena GroupHoldings, Inc.The Arena Group Holdings, Inc.B. Riley WealthPrivate Shares,LLCB. Riley Wealth Private Shares, LLCSangomaTechnologiesCorporationSangoma Technologies Corporation1001755979 OntarioInc.1001755979 Ontario Inc.Q-Mation, Inc.Q-Mation, Inc.Axos BankAxos BankB. Riley BrandManagement, LLCB. Riley Brand Management, LLCB. Riley AdvisoryHoldings, LLCB. Riley Advisory Holdings, LLCBR FundingHoldings 2024-1LLCBR Funding Holdings 2024-1 LLCSynchronossTechnologies IncSynchronoss Technologies IncBRPI ExecutiveConsulting, LLCBRPI Executive Consulting, LLCB. RileyCommercialCapital, LLCA26B. Riley Commercial Capital, LLCA26: Defendant in a preference action over $32.2 million of Sorrento loan repayments; motion to dismiss denied, pendingApplied DigitalCorporationApplied Digital CorporationBiomerica IncBiomerica IncBabcock & WilcoxEnterprises, Inc.A22Babcock & Wilcox Enterprises, Inc.A22: Defendant in a securities class action (N.D. Ohio 5:26-cv-00886) over the Base Electron contract; pendingB. RileySecurities, Inc.A14 · A15B. Riley Securities, Inc.A14: 12 final regulatory events 1991-2024, mostly as predecessor FBR; latest a $20,000 OCC fine (2024) · A15: Defendant in the FRG Litigation Trust suit and respondent in an AAA arbitration by FRG buyout investors; pendingAndrew MooreAndrew MooreB. RileySecuritiesHoldings, Inc.B. Riley Securities Holdings, Inc.B. RileyReceivables, LLCB. Riley Receivables, LLCNogin Commerce LLCA27Nogin Commerce LLCA27: Involuntary Chapter 7 case by supplier creditors (Bankr. S.D.N.Y. 2025); dismissal deniedRobert D’AgostinoRobert D’AgostinoMikel WilliamsMikel WilliamsCentrus EnergyCorpCentrus Energy CorpB. Riley AdvisoryUS, Inc.B. Riley Advisory US, Inc.Bluestar AllianceLLCBluestar Alliance LLCEos EnergyEnterprises, Inc.Eos Energy Enterprises, Inc.B. RileyReceivables II,LLCB. Riley Receivables II, LLCKenneth M. YoungA23Kenneth M. YoungA23: Defendant, as B&W Chairman and CEO, in a securities class action (N.D. Ohio); pendingB. Riley PrincipalInvestments, LLCB. Riley Principal Investments, LLCB. Riley PrincipalCapital, LLCB. Riley Principal Capital, LLCPhillip J. AhnPhillip J. AhnBRC GroupHoldings, Inc.A1 · A2 · A3 · A4 · A5BRC Group Holdings, Inc.A1: SEC document subpoenas (July and November 2024) and 2026 testimony subpoenas to employees; inquiry pending, no finding of violation · A2: Defendant in the federal securities class action (C.D. Cal. 2:24-cv-00662); claims partly survived dismissal, trial set for 2028 · A3: Defendant in the FRG Litigation Trust suit (Del. Ch. 2026-1076); allegations pending, no ruling · A4: 2024 write-downs of the Freedom VCM investment and Vintage loan; preferred dividends unpaid since January 2025 · A5: Nasdaq delinquency determinations for late 2024-2025 reports; compliance regained January 2026 under a one-year panel monitorOaktree CapitalManagement, L.P.Oaktree Capital Management, L.P.W.S. BadcockCorporationW.S. Badcock CorporationConn's, Inc.A21Conn's, Inc.A21: Chapter 11 filings in July 2024 accelerated the $108.0 million B. Riley loanNasdaqNasdaqTargus CaymanHoldco LimitedTargus Cayman Holdco LimitedFGI Worldwide LLCFGI Worldwide LLCBR Advisory &Investments, LLCBR Advisory & Investments, LLCB. Riley FarberAdvisory Inc.B. Riley Farber Advisory Inc.1001243443 OntarioInc.1001243443 Ontario Inc.Mimi K. WaltersMimi K. WaltersB. Riley AssetManagement, LLCB. Riley Asset Management, LLCAlta EquipmentGroup Inc.Alta Equipment Group Inc.B. Riley WealthManagementHoldings, Inc.B. Riley Wealth Management Holdings, Inc.B. Riley Principal250 Sponsor Co.,LLCB. Riley Principal 250 Sponsor Co., LLCBDO USA, P.C.BDO USA, P.C.B. Riley Principal250 Merger Corp.B. Riley Principal 250 Merger Corp.Howard WeitzmanHoward WeitzmanFaZe Holdings,Inc.FaZe Holdings, Inc.Tammy BrandtTammy BrandtDBA Trading, LLCDBA Trading, LLCTransActTechnologies IncTransAct Technologies IncCreative ArtistsAgencyCreative Artists AgencyB. Riley VentureCapital, LLCB. Riley Venture Capital, LLCComputershareTrust Company,N.A.Computershare Trust Company, N.A.Nomura CorporateFunding Americas,LLCNomura Corporate Funding Americas, LLCOrion EnergySystems, Inc.Orion Energy Systems, Inc.bebe stores, inc.bebe stores, inc.Freedom VCMReceivables, Inc.Freedom VCM Receivables, Inc.B. Riley WealthManagement, Inc.A17 · A18B. Riley Wealth Management, Inc.A17: 2020 FINRA award against predecessor Wunderlich Securities (settled); customer arbitrations disclosed for 2024 · A18: FINRA cause examination disclosed at December 31, 2024; no outcome disclosedGary WunderlichA28Gary WunderlichA28: Held jointly liable with Wunderlich Securities in a 2020 FINRA arbitration award, later settledJohn AhnJohn AhnWhitehawk CapitalPartners, L.P.Whitehawk Capital Partners, L.P.Michael J. SheldonMichael J. SheldonDash MedicalHoldings, LLCDash Medical Holdings, LLCRandall E. PaulsonRandall E. PaulsonXBP Americas, LLCXBP Americas, LLCEAG, Inc.EAG, Inc.FocalPointSecurities, LLCFocalPoint Securities, LLCSuperior RoofingHoldco LLCSuperior Roofing Holdco LLCB. Riley WealthAdvisors, Inc.B. Riley Wealth Advisors, Inc.BlackRock, Inc.BlackRock, Inc.Funko, Inc.Funko, Inc.Scott YessnerScott YessnerRobert L. AntinRobert L. AntinDominick &Dickerman, LLCDominick & Dickerman, LLCWells Fargo Bank,N.A.Wells Fargo Bank, N.A.BR FinancialHoldings, LLCBR Financial Holdings, LLCGreat AmericanHoldings, LLCGreat American Holdings, LLCALDILA INCALDILA INCOCM SSF III GreatAmerican PT, L.P.OCM SSF III Great American PT, L.P.Opps XII GreatAmerican Holdings,LLCOpps XII Great American Holdings, LLCGLAS Trust CompanyLLCGLAS Trust Company LLCmagicJack VocalTecLtd.magicJack VocalTec Ltd.Nokomis Capital,L.L.C.Nokomis Capital, L.L.C.MILFAM LLCMILFAM LLCPatrice McNicollPatrice McNicollSambazon, Inc.Sambazon, Inc.Leading Edge PowerSolutions, LLCLeading Edge Power Solutions, LLCHBN 120, LLCHBN 120, LLCVCA Inc.VCA Inc.InfraNext PartnersHoldings LLCInfraNext Partners Holdings LLCAtlantic CoastRecyclingHoldings, Inc.Atlantic Coast Recycling Holdings, Inc.Alan N. FormanAlan N. FormanAFOB FIP MS, LLCAFOB FIP MS, LLCAFO Blackberry LLCAFO Blackberry LLCWinston & StrawnLLPWinston & Strawn LLPTestek Inc.Testek Inc.Quantum CorpQuantum CorpAllianceSemiconductorCorp.Alliance Semiconductor Corp.PNC Bank, NationalAssociationPNC Bank, National AssociationHeidmar MaritimeHoldings Corp.Heidmar Maritime Holdings Corp.Renée E. LaBranRenée E. LaBranIconic SportsAcquisition CorpIconic Sports Acquisition CorpPacific SpecialtyInsurance CompanyPacific Specialty Insurance CompanySLR CreditSolutionsSLR Credit SolutionsHeska CorporationHeska CorporationThe Babcock &Wilcox CompanyThe Babcock & Wilcox CompanySTR Holdings, Inc.STR Holdings, Inc.VOF Great AmericanHoldings, L.P.VOF Great American Holdings, L.P.NationalSecuritiesCorporationNational Securities CorporationDeutsch NorthAmericaDeutsch North AmericaExela Receivables3 Holdco, LLCExela Receivables 3 Holdco, LLCL-com, Inc.L-com, Inc.United Online,Inc.United Online, Inc.National HoldingsCorporationNational Holdings CorporationStardust PowerInc.Stardust Power Inc.B. Riley PrincipalCapital II, LLCB. Riley Principal Capital II, LLCRustic CanyonPartnersRustic Canyon PartnersMonogramOrthopaedics Inc.Monogram Orthopaedics Inc.UniversalTechnicalInstitute IncUniversal Technical Institute IncBRC TrustBRC TrustCharah Solutions,Inc.Charah Solutions, Inc.ReVal Group, LLCReVal Group, LLCAtlantic CoastRecycling, LLCAtlantic Coast Recycling, LLCElliottAssociates, L.P.Elliott Associates, L.P.Options ClearingCorporationOptions Clearing CorporationNational FinancialServices LLCNational Financial Services LLCGA Joann RetailPartnership, LLCGA Joann Retail Partnership, LLCLiverpool LimitedPartnershipLiverpool Limited PartnershipLloyd I. MillerIIILloyd I. Miller IIIMarcum LLPMarcum LLPTOP Ships Inc.TOP Ships Inc.Sky Harbour GroupCorporationSky Harbour Group CorporationB&R TechnologyMerger Corp.B&R Technology Merger Corp.Idealab, Inc.Idealab, Inc.SoaringTechnologiesSoaring TechnologiesBRC PartnersOpportunity Fund,L.P.BRC Partners Opportunity Fund, L.P.Rexford IndustrialRealty, Inc.Rexford Industrial Realty, Inc.Nogin Holdings,LLCNogin Holdings, LLCDoubleDownInteractive Co.,Ltd.DoubleDown Interactive Co., Ltd.Fred KnopfFred KnopfSpace ExplorationTechnologies Corp.Space Exploration Technologies Corp.Janelle ReginaSchuttJanelle Regina SchuttJoseph NardiniJoseph NardiniFrank PigottFrank PigottMary Ann NellSwainMary Ann Nell SwainOdyssey InvestmentPartners, LLCOdyssey Investment Partners, LLCActuateTherapeutics, Inc.Actuate Therapeutics, Inc.GCT SemiconductorHolding, Inc.GCT Semiconductor Holding, Inc.Stravos Education,LLCStravos Education, LLCYMax CorporationYMax CorporationBrown Rudnick LLPBrown Rudnick LLPCaliforniaExpanded MetalProducts CompanyCalifornia Expanded Metal Products CompanySorrentoTherapeutics, Inc.Sorrento Therapeutics, Inc.Oaktree FundAdministration,LLCOaktree Fund Administration, LLCEnovum NC-1Venture, LLCEnovum NC-1 Venture, LLCStifel FinancialCorp.Stifel Financial Corp.B. RileyEnvironmentalHoldings, LLCB. Riley Environmental Holdings, LLCCalifornia NaturalResources Group,LLCCalifornia Natural Resources Group, LLCDaniel AsherDaniel AsherDreamscapeImmersiveDreamscape ImmersiveSW-B. Riley RetailOpportunity FundSW-B. Riley Retail Opportunity Fund

Solid line: documented. Amber dashed: reported. Grey dotted: hypothesis. One arrow: the relationship as stated; two arrows: reciprocal; no arrow: symmetric. A path between two parties does not transfer an allegation from one to the other.

every party and relationship in full, as text ↓

Information markers
  • A1 · SEC document subpoenas (July and November 2024) and 2026 testimony subpoenas to employees; inquiry pending, no finding of violation — BRC Group Holdings, Inc.
  • A2 · Defendant in the federal securities class action (C.D. Cal. 2:24-cv-00662); claims partly survived dismissal, trial set for 2028 — BRC Group Holdings, Inc.
  • A3 · Defendant in the FRG Litigation Trust suit (Del. Ch. 2026-1076); allegations pending, no ruling — BRC Group Holdings, Inc.
  • A4 · 2024 write-downs of the Freedom VCM investment and Vintage loan; preferred dividends unpaid since January 2025 — BRC Group Holdings, Inc.
  • A5 · Nasdaq delinquency determinations for late 2024-2025 reports; compliance regained January 2026 under a one-year panel monitor — BRC Group Holdings, Inc.
  • A6 · SEC document subpoenas (July and November 2024); inquiry pending, no finding of violation — Bryant R. Riley
  • A7 · Defendant in the federal securities class action; Section 10(b) claim survived dismissal at the pleading stage — Bryant R. Riley
  • A8 · Defendant in the FRG Litigation Trust suit (2026); aiding-and-abetting allegations pending — Bryant R. Riley
  • A9 · 1998 NASD settlement with B. Riley & Company: censure and $12,000 joint fine, without admitting or denying — Bryant R. Riley
  • A28 · Held jointly liable with Wunderlich Securities in a 2020 FINRA arbitration award, later settled — Gary Wunderlich
  • A23 · Defendant, as B&W Chairman and CEO, in a securities class action (N.D. Ohio); pending — Kenneth M. Young
  • A14 · 12 final regulatory events 1991-2024, mostly as predecessor FBR; latest a $20,000 OCC fine (2024) — B. Riley Securities, Inc.
  • A15 · Defendant in the FRG Litigation Trust suit and respondent in an AAA arbitration by FRG buyout investors; pending — B. Riley Securities, Inc.
  • A16 · Six final NASD/FINRA settlements 1998-2009; largest $265,000 in fines (2007) — B. Riley & Co., LLC
  • A26 · Defendant in a preference action over $32.2 million of Sorrento loan repayments; motion to dismiss denied, pending — B. Riley Commercial Capital, LLC
  • A17 · 2020 FINRA award against predecessor Wunderlich Securities (settled); customer arbitrations disclosed for 2024 — B. Riley Wealth Management, Inc.
  • A18 · FINRA cause examination disclosed at December 31, 2024; no outcome disclosed — B. Riley Wealth Management, Inc.
  • A27 · Involuntary Chapter 7 case by supplier creditors (Bankr. S.D.N.Y. 2025); dismissal denied — Nogin Commerce LLC
  • A25 · Defendant in the FRG Litigation Trust suit (2026); pending — GlassRatner Advisory & Capital Group, LLC
  • A10 · Pleaded guilty on December 10, 2025 (D.N.J.) to conspiracy to commit securities fraud; awaiting sentencing — Brian Kahn
  • A11 · SEC civil fraud complaint (D.N.J. 3:25-cv-16058, September 2025); stayed for the criminal case, no judgment — Brian Kahn
  • A12 · Defendant in suits by BRC (New York, 2026) and the FRG Litigation Trust (Delaware, 2026); pending — Brian Kahn
  • A19 · Chapter 11 filed November 3, 2024 (D. Del.); plan confirmed June 1, 2025, equity cancelled — Franchise Group, Inc.
  • A20 · Chapter 11 filed November 3, 2024; equity received nothing under the confirmed plan; case terminated October 2025 — Freedom VCM Holdings, LLC
  • A21 · Chapter 11 filings in July 2024 accelerated the $108.0 million B. Riley loan — Conn's, Inc.
  • A13 · SEC civil fraud complaint (September 2025); co-founder pleaded guilty, CEO indicted — Prophecy Asset Management, LP
  • A24 · Defendant in suits by BRC and the FRG Litigation Trust (2026); pending — Willkie Farr & Gallagher LLP
  • A22 · Defendant in a securities class action (N.D. Ohio 5:26-cv-00886) over the Base Electron contract; pending — Babcock & Wilcox Enterprises, Inc.

Markers apply only to the named participant. They do not transfer allegations to connected parties.

Participants 203

Subject

  • BRC Group Holdings, Inc. also known as B. Riley Financial, Inc. · B. Riley Financial · Great American Group, Inc. · BRC Group Holdings

Leadership

Group companies

Counterparties

Historical

Other

Relationship register 418

  • Bryant R. Riley to BRC Group Holdings, Inc.Co-founded the business with Tom Kelleherdocumented · 1997 · historical
  • Bryant R. Riley to BRC Group Holdings, Inc.Chairman of the boarddocumented · since June 2014 · current at the evidence cutoff
  • Bryant R. Riley to BRC Group Holdings, Inc.Co-Chief Executive Officerdocumented · since July 2018 · current at the evidence cutoff
  • Bryant R. Riley to BRC Group Holdings, Inc.Chief Executive Officer (sole)documented · June 2014 – July 2018 · historical
  • Bryant R. Riley to BRC Group Holdings, Inc.Director; re-elected at the May 19, 2026 annual meetingdocumented · since August 2009 (re-elected May 19, 2026) · current at the evidence cutoff
  • Bryant R. Riley to BRC Group Holdings, Inc.Largest shareholder: 24.6% (March 27, 2023), 23.0% (May 2, 2024), 22.6% (October 10, 2025) and 20.0–20.1% (March 2026) of the common stock; 6,574,236 shares held directly after a sale of 195,492 shares on June 16, 2026documented · 2023–2026 (as-of dates) · current or historical not established
  • Bryant R. Riley to Axos BankBorrower under a personal credit agreement secured by a pledge of BRC shares (4,389,553 shares from 2019, 5,804,124 from 2023); repaid in part from a February 2026 sale of B&W shares, pledge released and agreements terminated by March 2026documented · March 19, 2019 – March 2026 · historical
  • Bryant R. Riley to Biomerica IncListed in the ten-percent-owner category for Biomerica (report dated August 25, 2026)documented · as of August 25, 2026 · current or historical not established
  • Bryant R. Riley to B. Riley & Co., LLCFounded the brokerage and was its Chairman until its 2017 combination with FBR Capital Markets & Co.documented · 1997–2017 · historical
  • Bryant R. Riley to B. Riley & Co., LLCChief Executive Officerdocumented · 1997–2006 · historical
  • Bryant R. Riley to B. Riley & Co., LLCCo-Chief Executive Officer (FINRA executive-officer listing; the firm ceased business on December 31, 2018)documented · from August 2017 · historical
  • Bryant R. Riley to B. Riley Securities, Inc.Executive Chairmandocumented · since April 2026 · current at the evidence cutoff
  • Bryant R. Riley to B. Riley Securities, Inc.Co-Executive Chairmandocumented · November 2017 – March 2025 · historical
  • Bryant R. Riley to B. Riley Securities, Inc.Registered representativedocumented · since June 29, 2017 · current or historical not established
  • Bryant R. Riley to B. Riley Capital Management, LLCChief Executive Officer and member of the Board of Managersdocumented · as listed in March 2025 · current or historical not established
  • Bryant R. Riley to B. Riley Capital Management, LLCRegistered with the investment adviserdocumented · September 2015 – March 2025 · historical
  • Bryant R. Riley to Riley Investment ManagementRegistered with the investment adviserdocumented · April 2007 – July 2015 · historical
  • Bryant R. Riley to B. Riley Wealth Private Shares, LLCRegistered with the investment adviserdocumented · November – December 2025 · historical
  • Bryant R. Riley to B. Riley Principal 250 Merger Corp.Chairman of the special purpose acquisition companydocumented · from May 2021 · current or historical not established
  • Bryant R. Riley to B. Riley Principal 150 Merger Corp.Chairman of the special purpose acquisition company (combined with FaZe Holdings)documented · June 2020 – July 2022 · historical
  • Bryant R. Riley to Sonim Technologies, Inc.Directordocumented · October 2017 – March 2019 · historical
  • Bryant R. Riley to Select Interior Concepts, Inc.Directordocumented · November 2019 – October 2021 · historical
  • Bryant R. Riley to ALDILA INCFormer director, on the board together with Michael Sheldon about fifteen years before the 2025 derivative case (as recited by the court from the complaint)reported · about 2010 (approximate) · historical
  • Thomas J. Kelleher to BRC Group Holdings, Inc.Co-founded the business with Bryant Rileydocumented · 1997 · historical
  • Thomas J. Kelleher to BRC Group Holdings, Inc.Co-Chief Executive Officerdocumented · since July 2018 · current at the evidence cutoff
  • Thomas J. Kelleher to BRC Group Holdings, Inc.Presidentdocumented · August 2014 – July 2018 · historical
  • Thomas J. Kelleher to BRC Group Holdings, Inc.Director; re-elected at the May 19, 2026 annual meetingdocumented · since October 2015 (re-elected May 19, 2026) · current at the evidence cutoff
  • Thomas J. Kelleher to BRC Group Holdings, Inc.Authorized officer who signed the certificate of amendment changing the name to BRC Group Holdings, Inc.documented · December 22, 2025 · historical
  • Thomas J. Kelleher to BRC Group Holdings, Inc.Shareholder: 3.2% (March 2023), 3.3% (May 2024), 3.2% (October 2025) and 2.9% (March 26, 2026) of the common stock, largely held indirectly (899,288 indirect and 70,541 direct shares in 2026 Form 4 reports)documented · 2023–2026 (as-of dates) · current or historical not established
  • Thomas J. Kelleher to B. Riley & Co., LLCChief Executive Officerdocumented · 2006–2014 · historical
  • Thomas J. Kelleher to B. Riley & Co., LLCSenior positions including Chief Financial Officer and Chief Compliance Officerdocumented · 1997–2006 · historical
  • Thomas J. Kelleher to B. Riley & Co., LLCCo-Chief Executive Officer (FINRA executive-officer listing; the firm ceased business on December 31, 2018)documented · from August 2017 · historical
  • Thomas J. Kelleher to B. Riley Securities, Inc.Co-Executive Chairman and directordocumented · November 2017 – March 2025 · historical
  • Thomas J. Kelleher to B. Riley Securities, Inc.Registered representativedocumented · since June 29, 2017 · current or historical not established
  • Thomas J. Kelleher to B. Riley Capital Management, LLCPresident and member of the Board of Managersdocumented · February 2015 – March 2025 · historical
  • Thomas J. Kelleher to Riley Investment ManagementRegistered with the investment adviserdocumented · October 2002 – July 2015 · historical
  • Thomas J. Kelleher to B. Riley Wealth Private Shares, LLCRegistered with the investment adviserdocumented · since November 21, 2025 · current or historical not established
  • Thomas J. Kelleher to Standard Diversified, Inc.Director (EDGAR report as Special Diversified Opportunities Inc.)documented · reported October 19, 2015 · current or historical not established
  • Thomas J. Kelleher to Franchise Group, Inc.Indirect holder of 13,768 FRG shares (Form 3 of August 17, 2023), sold at the August 21, 2023 closing; listed in the ten-percent-owner category in a report dated August 7, 2023documented · August 2023 · historical
  • Scott Yessner to BRC Group Holdings, Inc.Executive Vice President and Chief Financial Officerdocumented · since June 3, 2025 · current at the evidence cutoff
  • Scott Yessner to BRC Group Holdings, Inc.Received an award of 100,000 company shares on joiningdocumented · June 3, 2025 · current or historical not established
  • Scott Yessner to Funko, Inc.Chief Financial Officer (recorded in EDGAR as interim CFO)documented · 2022–2023 · historical
  • Scott Yessner to California Expanded Metal Products CompanyChief Financial Officerdocumented · 2020–2022 · historical
  • Scott Yessner to Universal Technical Institute IncChief Financial Officer (recorded in EDGAR as interim CFO)documented · 2018–2019 · historical
  • Phillip J. Ahn to BRC Group Holdings, Inc.Chief Financial Officer and Chief Operating Officerdocumented · April 2013 – June 3, 2025 · historical
  • Phillip J. Ahn to BRC Group Holdings, Inc.Senior Vice President, Strategy and Corporate Developmentdocumented · February 2010 – April 2013 · historical
  • Phillip J. Ahn to BRC Group Holdings, Inc.Bought 300,000 shares of the company, then Great American Group, Inc.documented · May 19, 2014 · current or historical not established
  • Alan N. Forman to BRC Group Holdings, Inc.Executive Vice President, General Counsel and Secretary; retired and succeeded by Fred Knopfdocumented · May 2015 – July 2026 · historical
  • Alan N. Forman to BRC Group Holdings, Inc.Shareholder: sold 100,000 shares in May 2026 and held 34,974 shares directly after a June 30, 2026 withholdingdocumented · as of June 30, 2026 · current or historical not established
  • Alan N. Forman to B. Riley & Co., LLCGeneral Counsel (FINRA executive-officer listing; the firm ceased business on December 31, 2018)documented · from June 2015 · historical
  • Alan N. Forman to STR Holdings, Inc.Vice President and General Counsel, then Senior Vice President and General Counseldocumented · May 2010 – May 2015 · historical
  • Alan N. Forman to Brown Rudnick LLPPartnerdocumented · May 1998 – May 2010 · historical
  • Fred Knopf to BRC Group Holdings, Inc.Executive Vice President, General Counsel and Secretarydocumented · since July 1, 2026 · current at the evidence cutoff
  • Howard Weitzman to BRC Group Holdings, Inc.Senior Vice President and Chief Accounting Officerdocumented · since December 2009 · current at the evidence cutoff
  • Howard Weitzman to BRC Group Holdings, Inc.Shareholder: bought 150,000 shares through indirect holdings on May 19, 2014; held 53,710 shares directly after an April 13, 2026 withholdingdocumented · 2014–2026 · current or historical not established
  • Andrew Moore to BRC Group Holdings, Inc.Executive officer of BRC as Chief Executive Officer of B. Riley Securities; not re-appointed in 2026documented · listed as of March 31, 2024 and in EDGAR reports to March 2025 · historical
  • Andrew Moore to BRC Group Holdings, Inc.Shareholder: 1.2% (March 27, 2023) and 1.0% (May 2, 2024) of the common stockdocumented · 2023–2024 (as-of dates) · current or historical not established
  • Andrew Moore to B. Riley Securities, Inc.Chief Executive Officer, then Co-Chief Executive Officer from September 18, 2025documented · July 10, 2018 – January 2, 2026 · historical
  • Andrew Moore to B. Riley Securities, Inc.Presidentdocumented · 2016–2018 · historical
  • Andrew Moore to B. Riley Securities, Inc.Chief Executive Officer (returned)documented · since April 2026 · current at the evidence cutoff
  • Andrew Moore to B. Riley Securities Holdings, Inc.Chairman of the boarddocumented · since January 3, 2026 · current at the evidence cutoff
  • Andrew Moore to B. Riley & Co., LLCInstitutional sales professional; Director of Sales from 2011documented · 2006–2017 · historical
  • Andrew Moore to FocalPoint Securities, LLCRegistered representativedocumented · January 2022 – January 2023 · historical
  • Andrew Moore to Lodestone Capital ManagementRegistered with the investment adviserdocumented · February 2010 – December 2019 · historical
  • Joseph Nardini to B. Riley Securities, Inc.President (promoted from Head of Investment Banking; listed by FINRA as Co-President)documented · from April 2026 · current at the evidence cutoff
  • Patrice McNicoll to B. Riley Securities, Inc.Co-Presidentdocumented · from May 2026 · current at the evidence cutoff
  • Frank Pigott to B. Riley Securities, Inc.General Counsel and Chief Compliance Officerdocumented · from March 2026 · current at the evidence cutoff
  • Janelle Regina Schutt to B. Riley Securities, Inc.Controllerdocumented · since October 2008 · current at the evidence cutoff
  • Mary Ann Nell Swain to B. Riley Securities, Inc.Chief Financial Officerdocumented · from May 2026 · current at the evidence cutoff
  • Kenneth M. Young to B. Riley Principal Investments, LLCChief Executive Officerdocumented · since October 2016 · current or historical not established
  • Kenneth M. Young to Franchise Group, Inc.Director (of Liberty Tax, Inc., later Franchise Group)documented · 2018–2020 · historical
  • Kenneth M. Young to bebe stores, inc.Directordocumented · January 2018 – April 2019 · historical
  • Kenneth M. Young to Charah Solutions, Inc.Directordocumented · August 2021 – September 2022 · historical
  • Kenneth M. Young to Globalstar, Inc.Directordocumented · November 2015 – December 2018 · historical
  • Kenneth M. Young to Orion Energy Systems, Inc.Directordocumented · August 2017 – May 2020 · historical
  • Kenneth M. Young to Sonim Technologies, Inc.Directordocumented · 2018 – February 2022 · historical
  • Kenneth M. Young to Standard Diversified, Inc.Directordocumented · 2015–2017 · historical
  • Kenneth M. Young to Alta Equipment Group Inc.Director and Chief Executive Officer reports in EDGAR (2019), after serving as CEO of the SPAC that combined with Alta Equipment Groupdocumented · reported 2019 · current or historical not established
  • Kenneth M. Young to Eos Energy Enterprises, Inc.Director (EDGAR report)documented · reported 2020 · current or historical not established
  • Robert L. Antin to BRC Group Holdings, Inc.Independent director; re-elected at the May 19, 2026 annual meetingdocumented · since June 2017 (re-elected May 19, 2026) · current at the evidence cutoff
  • Robert L. Antin to BRC Group Holdings, Inc.Shareholder: 1.7% (May 2024) and 1.0% (October 2025) of the common stock, including shares held by a living trust and a family foundation; 131,914 shares held directly after an April 3, 2026 awarddocumented · 2023–2026 (as-of dates) · current or historical not established
  • Robert L. Antin to VCA Inc.Co-founder; Chief Executive Officer and President from inception and Chairman until the company's private acquisitiondocumented · 1986–2017 · historical
  • Robert L. Antin to Rexford Industrial Realty, Inc.Directordocumented · since July 2013 · current at the evidence cutoff
  • Robert L. Antin to Heska CorporationDirectordocumented · November 2020 – May 2023 · historical
  • Tammy Brandt to BRC Group Holdings, Inc.Independent director; re-elected at the May 19, 2026 annual meetingdocumented · since December 20, 2021 (re-elected May 19, 2026) · current at the evidence cutoff
  • Tammy Brandt to BRC Group Holdings, Inc.Bought 1,635 shares on November 9, 2023, holding 6,195 afterwardsdocumented · November 2023 · current or historical not established
  • Tammy Brandt to Creative Artists AgencySenior member of the legal teamdocumented · since February 2023 · current at the evidence cutoff
  • Tammy Brandt to FaZe Clan Inc.Chief Legal Officer and Head of Business and Legal Affairsdocumented · March 2021 – January 2023 · historical
  • Tammy Brandt to FaZe Holdings, Inc.Chief Legal Officer (EDGAR report)documented · reported July 19, 2022 · historical
  • Tammy Brandt to Dreamscape ImmersiveChief Legal Officerdocumented · May 2017 – May 2021 · historical
  • FaZe Clan Inc. to B. Riley Principal 150 Merger Corp.Agreed to merge with the special purpose acquisition company to go public (plans announced by December 2021; combined company FaZe Holdings)documented · 2021–2022 · historical
  • BRC Group Holdings, Inc. to B. Riley Principal 150 Merger Corp.An affiliate of B. Riley Financial sponsored the special purpose acquisition companydocumented · as of December 2021 · historical
  • Robert D’Agostino to BRC Group Holdings, Inc.Independent director; did not stand for re-election in 2026documented · October 2015 – May 19, 2026 · historical
  • Robert D’Agostino to BRC Group Holdings, Inc.Shareholder: bought 5,000 shares on November 17, 2023 (160,570 held); 211,989 shares held directly after an April 3, 2026 awarddocumented · since October 2015 (first Form 3); holdings as of November 2023 and April 2026 · current or historical not established
  • Robert D’Agostino to Q-Mation, Inc.President (with the company since 1990)documented · since 1999 · current or historical not established
  • Robert D’Agostino to Alliance Semiconductor Corp.Directordocumented · July 2005 – February 2012 · historical
  • Renée E. LaBran to BRC Group Holdings, Inc.Independent director; re-elected at the May 19, 2026 annual meetingdocumented · since August 11, 2021 (re-elected May 19, 2026) · current at the evidence cutoff
  • Renée E. LaBran to BRC Group Holdings, Inc.Shareholder: 898 shares on her initial Form 3 (August 18, 2021), open-market purchases in November 2023 (6,510 held), 58,152 shares held directly after an April 3, 2026 awarddocumented · 2021–2026 · current or historical not established
  • Renée E. LaBran to Rustic Canyon PartnersCo-founder of the venture fund; partner of Rustic Canyon/Fontis Partners from 2006 to 2021documented · 2000–2021 · historical
  • Renée E. LaBran to Idealab, Inc.Directordocumented · since March 2015 · current at the evidence cutoff
  • Renée E. LaBran to Iconic Sports Acquisition CorpDirectordocumented · October 2021 – October 2023 · historical
  • Renée E. LaBran to Sambazon, Inc.Directordocumented · 2009–2021 · historical
  • Renée E. LaBran to Stravos Education, LLCDirectordocumented · August 2022 – March 2026 · historical
  • Renée E. LaBran to B&R Technology Merger Corp.Director (EDGAR report)documented · reported July 20, 2026 · current or historical not established
  • Randall E. Paulson to BRC Group Holdings, Inc.Independent director and Audit Committee member; re-elected at the May 19, 2026 annual meetingdocumented · since June 18, 2020 (re-elected May 19, 2026) · current at the evidence cutoff
  • Randall E. Paulson to BRC Group Holdings, Inc.Shareholder: 1.1% (March 2023 and May 2024) and 1.0% (October 2025 and March 2026) of the common stock; bought 10,000 shares on November 17, 2023; 370,398 shares held directly after an April 3, 2026 awarddocumented · 2023–2026 (as-of dates) · current or historical not established
  • Randall E. Paulson to Dash Medical Holdings, LLCDirector (one of two directors named in the 2021 Form D)documented · since 2021 · current at the evidence cutoff
  • Randall E. Paulson to Dash Medical Holdings, LLCControls the company, which he acquired in March 2021 (as described in BRC's 2023 proxy statement)documented · since March 2021 · current or historical not established
  • Randall E. Paulson to Superior Roofing Holdco LLCDirectordocumented · since March 2026 · current at the evidence cutoff
  • Randall E. Paulson to Testek Inc.Directordocumented · 2016 – November 2024 · historical
  • Randall E. Paulson to EAG, Inc.Directordocumented · 2008–2017 · historical
  • Randall E. Paulson to L-com, Inc.Directordocumented · 2012–2016 · historical
  • Randall E. Paulson to Odyssey Investment Partners, LLCManaging Principaldocumented · 2005–2019 · historical
  • Mimi K. Walters to BRC Group Holdings, Inc.Independent director; re-elected at the May 19, 2026 annual meetingdocumented · since July 12, 2019 (re-elected May 19, 2026) · current at the evidence cutoff
  • Mimi K. Walters to BRC Group Holdings, Inc.Holds company shares: 55,980 held directly after an April 3, 2026 awarddocumented · as of April 3, 2026 · current or historical not established
  • Mimi K. Walters to Eos Energy Enterprises, Inc.Directordocumented · since November 2020 · current at the evidence cutoff
  • Mimi K. Walters to Eos Energy Enterprises, Inc.Holds 171,634 Eos shares after an exempt exercise transaction on July 21, 2026documented · as of July 21, 2026 · current or historical not established
  • Mimi K. Walters to Leading Edge Power Solutions, LLCChief Commercial Officerdocumented · since November 2019 · current at the evidence cutoff
  • Mimi K. Walters to Pacific Specialty Insurance CompanyDirectordocumented · since January 2025 · current at the evidence cutoff
  • Mimi K. Walters to Soaring TechnologiesDirectordocumented · since July 2025 · current at the evidence cutoff
  • Michael J. Sheldon to BRC Group Holdings, Inc.Independent director; did not stand for re-election in 2025documented · July 2017 – December 1, 2025 · historical
  • Michael J. Sheldon to ALDILA INCDirector (EDGAR report)documented · reported from 2007 · current or historical not established
  • Michael J. Sheldon to Deutsch North AmericaChief Executive Officerdocumented · January 2015 – December 2019 · historical
  • Mikel Williams to Centrus Energy CorpDirector (EDGAR reports, latest June 20, 2023)documented · reported to 2023 · current or historical not established
  • Gary Wunderlich to BRC Group Holdings, Inc.Director and officer after the merger with the Wunderlich companies; resigned under a severance agreementdocumented · July 3, 2017 – November 4, 2018 · historical
  • Gary Wunderlich to BRC Group Holdings, Inc.Sued B. Riley Financial and Wunderlich Securities for indemnification (Del. Ch. C.A. No. 2020-0453-PAF); motion to dismiss the indemnification counts denied in March 2021documented · filed June 10, 2020 · current or historical not established
  • Daniel Asher to BRC Group Holdings, Inc.Holder of more than 5% with associated persons: 8.8% (March 2023), 8.5% (May 2024) and 8.7% together with DBA Trading, LLC (March 26, 2026); reported as a ten percent owner in 2014documented · 2014–2026 (as-of dates) · current or historical not established
  • BlackRock, Inc. to BRC Group Holdings, Inc.Holder of more than 5%: 10.1% (March 27, 2023) and 9.5% (May 2, 2024)documented · 2023–2024 (as-of dates) · current or historical not established
  • MILFAM LLC to BRC Group Holdings, Inc.Holder of more than 5% with associated persons (Neil S. Subin): 6.5% (March 27, 2023) and 6.0% (May 2, 2024)documented · 2023–2024 (as-of dates) · current or historical not established
  • Liverpool Limited Partnership to BRC Group Holdings, Inc.Reported as a ten percent ownerdocumented · report of July 15, 2014 · historical
  • Nokomis Capital, L.L.C. to BRC Group Holdings, Inc.Reported as a ten percent ownerdocumented · report of May 19, 2014 · historical
  • Lloyd I. Miller III to BRC Group Holdings, Inc.Reported as a ten percent owner of Great American Group, Inc.documented · report of November 15, 2012 · historical
  • Elliott Associates, L.P. to BRC Group Holdings, Inc.Reported, with Elliott International, L.P., as a ten percent owner of Great American Group, Inc.documented · report of September 20, 2010 · historical
  • BRC Group Holdings, Inc. to B. Riley Securities, Inc.Indirect parent of the broker-dealer, through BR Financial Holdings and B. Riley Securities Holdings; about 92% owned per the April 2026 announcementdocumented · 2020–2026 (BrokerCheck parent chain since April 2021) · current at the evidence cutoff
  • B. Riley Securities, Inc. to National Financial Services LLCClears trades on a fully disclosed basis through National Financial Services LLCdocumented · since November 1, 2017 · current at the evidence cutoff
  • BR Financial Holdings, LLC to B. Riley Securities, Inc.Indirect owner of 75% or more, as parent of B. Riley Securities Holdingsdocumented · since April 2021 · current at the evidence cutoff
  • B. Riley Securities Holdings, Inc. to B. Riley Securities, Inc.Direct parent, owning 75% or more (wholly owned subsidiary per the February 2026 Form 4)documented · since March 2025 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to B. Riley & Co., LLCOwner of 75% or more and parent of the brokerage, which ceased business on December 31, 2018documented · from November 2016 · historical
  • BRC Group Holdings, Inc. to B. Riley Advisory Holdings, LLCParent company (Delaware subsidiary that sold GlassRatner in June 2025)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to BR Advisory & Investments, LLCParent company (wholly owned subsidiary and co-borrower under the 2021 Nomura agreement)documented · 2021–2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Environmental Holdings, LLCParent company (Delaware subsidiary on the seller side of the 2025 recycling sale)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to ReVal Group, LLCParent company (Delaware subsidiary; member of the recycling companies sold in 2025)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Venture Capital, LLCParent company (Delaware subsidiary under common control with B. Riley Securities from December 12, 2024)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Wealth Advisors, Inc.Parent company (Washington subsidiary)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Wealth Private Shares, LLCParent company (Delaware subsidiary)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Wealth Management Holdings, Inc.Parent company (wholly owns the wealth-management holding company)documented · as of December 31, 2025 · current or historical not established
  • B. Riley Wealth Management Holdings, Inc. to B. Riley Wealth Management, Inc.Parent company (100%)documented · as of December 31, 2024 · current or historical not established
  • BRC Group Holdings, Inc. to magicJack VocalTec Ltd.Parent company of the Israeli telecom subsidiary (65% of its shares pledged under the BRPAC facility); EDGAR lists a 2018 more-than-10% owner reportdocumented · 2018–2025 · current or historical not established
  • BRC Group Holdings, Inc. to National Holdings CorporationAcquirer: tender offer and merger making National Holdings a wholly owned subsidiarydocumented · from February 2021 · current or historical not established
  • BRC Group Holdings, Inc. to National Securities CorporationParent company (Washington subsidiary; sister company of B. Riley Wealth Management)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Capital Management, LLCParent company (New York subsidiary)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Principal 250 Sponsor Co., LLCParent company (SPAC sponsor listed among Delaware subsidiaries)documented · as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to BRPI Executive Consulting, LLCParent company (Delaware subsidiary)documented · as of December 31, 2025 · current or historical not established
  • Options Clearing Corporation to B. Riley Securities, Inc.Brought case 2024-07 over a protective measure under OCC Rule 307 and late financial reporting; settled by consent with a $20,000 sanctiondocumented · September 18–24, 2024 · historical
  • U.S. Securities and Exchange Commission to B. Riley Securities, Inc.Filed settled charges against the predecessor Friedman, Billings, Ramsey & Co., Inc. over a 2001 PIPE offering (D.D.C. No. 06-CV-02160) and issued a censure order on January 12, 2007documented · December 20, 2006 – January 12, 2007 · historical
  • U.S. Securities and Exchange Commission to B. Riley Securities, Inc.Settled proceeding over an undisclosed payment for research coverage by the predecessor FBR; censure, cease-and-desist order and $125,000 penaltydocumented · July 1, 2003 – August 25, 2004 · historical
  • BRC Group Holdings, Inc. to Franchise Group, Inc.Alleged co-investor with Vintage Capital Management in Liberty Tax, Inc. (renamed Franchise Group): partnered to buy 37% in 2017 and acquired a controlling interest in July 2019 (class plaintiffs); jointly acquired control from 2018 and bought 1 million FRG shares in 2019 (FRG Litigation Trust)reported · 2017 to July 2019 (from 2018 per the Trust's complaint) · historical
  • BRC Group Holdings, Inc. to Franchise Group, Inc.Reported to the SEC as a holder of more than 10% of Liberty Tax, Inc. (now Franchise Group, Inc.)documented · report dated October 23, 2019 · historical
  • BRC Group Holdings, Inc. to Franchise Group, Inc.Holder, through its subsidiary B. Riley Securities, of FRG shares worth $64.6 million at the deal price that were excluded from the $30.00 cash conversion and rolled over into Freedom VCM equity at the August 21, 2023 closingdocumented · until August 21, 2023 · historical
  • BRC Group Holdings, Inc. to Franchise Group, Inc.Gave FRG a limited guarantee of the merger parent's and merger subsidiary's payment obligations, including the reverse termination fee, up to $57.0 million (uncapped for actual fraud or wilful and material breach)documented · dated May 10, 2023 · current or historical not established
  • BRC Group Holdings, Inc. to Franchise Group, Inc.Financed the take-private without taking control and became an indirect equity investor through its subsidiaries' interest in Freedom VCM Holdings, FRG's indirect parent; the investment was written off at December 31, 2024 and FRG's equity was cancelled under the plan confirmed June 1, 2025documented · August 21, 2023 – June 1, 2025 · historical
  • BRC Group Holdings, Inc. to Freedom VCM Holdings, LLCCommitted under an equity commitment letter to contribute $560.0 million in cash to the company immediately before the merger, with the right to assign part of the commitmentdocumented · May 10, 2023 – August 21, 2023 · historical
  • BRC Group Holdings, Inc. to Freedom VCM Holdings, LLCResponsible for making all decisions and taking all actions on behalf of Topco (Freedom VCM Holdings) for the purposes of the rollover agreement, under Section 2(b) of the Interim Investors Agreementdocumented · agreements dated May 10, 2023 · historical
  • BRC Group Holdings, Inc. to Freedom VCM Holdings, LLCThrough subsidiaries held a $281.1 million equity interest ($216.5 million bought in the take-private, partly funded by the 2023 Nomura facility, and a $64.6 million roll-over of FRG shares), a 31% voting interest with board representation; written off to zero at December 31, 2024 and cancelled under FRG's confirmed plandocumented · August 21, 2023 – December 31, 2024 (written off; equity cancelled June 2025) · historical
  • BRC Group Holdings, Inc. to Freedom VCM, Inc.Guaranteed to FRG, up to $57.0 million, the merger obligations of this company as merger parentdocumented · dated May 10, 2023 · current or historical not established
  • BRC Group Holdings, Inc. to Freedom VCM Receivables, Inc.Sold, with the other holders, all equity of B. Riley Receivables II to this Freedom VCM subsidiary for $58.9 million, paid with a non-recourse 19.74% note of another Freedom VCM affiliate that was cancelled on October 9, 2024documented · August 21, 2023 – October 9, 2024 · historical
  • B. Riley Principal Investments, LLC to Freedom VCM Receivables, Inc.Payee, with a minority owner of B. Riley Receivables II, of the note given for that company's purchase and party to the amended and restated funding agreement of December 18, 2023; a BRPI affiliate received about $15.3 million of receivables and the note was cancelled in early October 2024documented · August 2023 – October 2024 · historical
  • B. Riley Principal Investments, LLC to Freedom VCM Holdings, LLCEquity investor that, with its affiliates, owned about 58.9% of Freedom TopCo's equity after the take-private, according to FRG's chief restructuring officer (BRC reports a 31% voting interest held by its subsidiaries)documented · from August 2023 (as stated November 4, 2024) · historical
  • Freedom VCM Holdings, LLC to bebe stores, inc.Franchisor of bebe's rent-to-own stores and supplier of their inventory: charged royalty, marketing and IT fees of $3.3 million in 2025 and $4.9 million in 2024 and sold bebe $9.0 million and $15.3 million of inventory in those yearsdocumented · 2024–2025 · current or historical not established
  • Freedom VCM Holdings, LLC to Franchise Group, Inc.Indirect parent of FRG after the take-private; both filed Chapter 11 on November 3, 2024 (Freedom VCM Holdings case 24-12496 under FRG's lead case 24-12480, terminated October 6, 2025)documented · August 21, 2023 – October 6, 2025 · historical
  • Freedom VCM, Inc. to Franchise Group, Inc.Parent: FRG became its wholly owned subsidiary on the mergerdocumented · from August 21, 2023 · historical
  • BRC Group Holdings, Inc. to B. Riley Receivables, LLCIndirect wholly owned subsidiary (B. Riley Receivables, LLC)documented · from 2021; listed as of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Receivables II, LLCMajority-owned subsidiary until its sale to Freedom VCM Receivables at the take-privatedocumented · until August 21, 2023 · historical
  • B. Riley Principal Investments, LLC to B. Riley Receivables II, LLCAffiliate of BRPI, as described by FRG's chief restructuring officer, until its sale at the take-privatedocumented · until August 2023 · historical
  • B. Riley Receivables, LLC to W.S. Badcock CorporationBought W.S. Badcock's existing consumer credit receivables portfolio for $400 million in cash under a master receivables purchase agreementdocumented · December 2021 · historical
  • B. Riley Receivables II, LLC to W.S. Badcock CorporationBought $168.4 million of consumer credit receivables under a second master receivables purchase agreement, partly financed with a $148.2 million term loan, and $145.3 million more in early 2023documented · September 23, 2022 – first quarter 2023 · historical
  • BRC Group Holdings, Inc. to W.S. Badcock CorporationCarried the 2021–2023 Badcock receivable purchases by its subsidiaries as loans receivable from Badcock, collateralised by the consumer receivables, until it sold the two loans for a net realized loss of $38.1 milliondocumented · December 2021 – February 7, 2025 (purchases until March 2023) · historical
  • BRC Group Holdings, Inc. to W.S. Badcock CorporationThrough a then-subsidiary, sold merchandise and fixtures at Badcock stores and facilities under the Conn's consulting agreementdocumented · June 27, 2024 – November 15, 2024 · historical
  • BRC Group Holdings, Inc. to Vintage Capital Management, LLCLender, through a subsidiary, under the amended and restated promissory note: $200.5 million principal at 12% paid in kind, maturing December 31, 2027 (with the $20.9 million Kahn owed under the terminated advisory agreement added); impaired by $222.9 million in 2024; the remaining collateral was sold in February 2026 for $1.855 million and no further collections are expecteddocumented · from August 21, 2023 (related party through June 30, 2026) · current or historical not established
  • BRC Group Holdings, Inc. to Vintage Capital Management, LLCLender to Vintage before the take-private: amended and restated and additional secured notes of January 3, 2020 and a first-lien loan of $76.7 million by December 2022 (FRG Litigation Trust); a press report put B. Riley's loan to Kahn's investment firm at $201 million, secured by FRG sharesreported · 2020–2023 (as alleged) · historical
  • B. Riley Commercial Capital, LLC to Vintage Capital Management, LLCLender of $36 million to Vintage under a second-lien promissory note, amended on August 9, 2023 to add $19.2 million, as alleged by the FRG Litigation Trustreported · June 25, 2021 – 2023 (as alleged) · historical
  • BRC Group Holdings, Inc. to Vintage Capital Management, LLCAlleged co-investor with Vintage in Liberty Tax: partnered to buy 37% in 2017 and acquired control in July 2019 (class plaintiffs); jointly acquired control from 2018 and placed designees on its board (FRG Litigation Trust)reported · 2017 to July 2019 (from 2018 per the Trust's complaint) · historical
  • BRC Group Holdings, Inc. to Vintage Capital Management, LLCCo-participant in Babcock & Wilcox's 2018 rights offering, according to a short seller's reportreported · 2018 (as reported) · historical
  • BRC Group Holdings, Inc. to Brian KahnSecured creditor, through a subsidiary, holding a first-priority security interest in Freedom VCM equity owned by Kahn and his spouse (a 25% equity interest of Kahn per the 2025 annual report) for the VCM note; treats Kahn as a related party; no proceeds expected after FRG's plan cancelled that equitydocumented · from August 21, 2023 (related party through June 30, 2026) · current or historical not established
  • Brian Kahn to BRC Group Holdings, Inc.Pledgor, with his wife, of about 7.1 million FRG shares as collateral for B. Riley Financial loans and personal guarantor of Vintage's loan at the 2023 closing, as alleged by the FRG Litigation Trustreported · 2020–2023 (as alleged) · historical
  • Lauren Kahn to BRC Group Holdings, Inc.Pledgor, with Brian Kahn, of FRG shares for B. Riley Financial loans (about 7.1 million shares on April 24, 2020; 5,061,255 pledged shares held at B. Riley Wealth Management under an August 7, 2023 control agreement) and personal guarantor of Vintage's loan at closing, as alleged by the FRG Litigation Trustreported · 2020–2023 (as alleged) · historical
  • BRC Group Holdings, Inc. to Brian KahnLender of undisclosed loans to Kahn with principal balances reaching $154 million by mid-2023, according to a press report citing a July 2023 Nomura presentationreported · to mid-2023 (as reported) · historical
  • Brian Kahn to BRC Group Holdings, Inc.Financial adviser under an investment advisory agreement with B. Riley, with sole power to vote or dispose of FRG shares worth $64.6 million held of record by B. Riley Securities; terminated at closing, when the $20.9 million he owed under it was added to the VCM notedocumented · until August 21, 2023 · historical
  • BRC Group Holdings, Inc. to Brian KahnCo-member of the buyer consortium in the FRG take-private: Bryant Riley met Kahn on March 16–17, 2023 and B. Riley proposed $30.00 per share on March 19; the parties agreed that Kahn would control the surviving company while B. Riley financed without control, signed the Interim Investors Agreement with him and co-filed the Schedule 13E-3documented · March 16 – August 21, 2023 · historical
  • BRC Group Holdings, Inc. to Brian KahnLong-standing business associate: an early brokerage client, then a partner whose deals B. Riley financed or underwrote (a 2018 Rent-A-Center bid, a 2022 Kohl's bid, the 2023 FRG buyout), as described by class plaintiffs and press reportsreported · from 1997 (as described) to 2023 · historical
  • BRC Group Holdings, Inc. to Brian KahnPlaintiff, with subsidiaries, suing Kahn for common-law fraud, fraudulent inducement, civil conspiracy and breach of contract over the FRG take-private (Supreme Court of the State of New York, New York County; damages claimed above $735 million)documented · filed January 20, 2026 · current or historical not established
  • BRC Group Holdings, Inc. to Lauren KahnPlaintiff, with subsidiaries, suing her for breach of contract over the FRG take-private (Supreme Court of the State of New York, New York County)documented · filed January 20, 2026 · current or historical not established
  • BRC Group Holdings, Inc. to Conn's, Inc.Lender, through a subsidiary, of a $108.0 million term loan (reduced to $93.0 million), accelerated by Conn's July 2024 Chapter 11 filing, valued at zero at December 31, 2025 and written off effective January 1, 2026; it also bought the first-lien Conn's loan for $27.7 million on December 17, 2024, repaid January 24, 2025documented · December 18, 2023 – January 1, 2026 · historical
  • BRC Group Holdings, Inc. to Conn's, Inc.Liquidation consultant: a then-subsidiary sold merchandise and fixtures at Conn's and Badcock stores under a consulting agreement, earning $26.1 million until the subsidiary was sold with the Great American Group businessdocumented · June 27, 2024 – November 15, 2024 · historical
  • B. Riley Principal Investments, LLC to Torticity, LLCLender: committed $15.0 million of a $25.0 million loan bearing 15.00% a year and transferred the note to B. Riley Commercial Capitaldocumented · November 2 – November 20, 2023 · historical
  • B. Riley Commercial Capital, LLC to Torticity, LLCHolder of the transferred Torticity note; fully impaired, with no fair value at June 30, 2026documented · from November 20, 2023 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Commercial Capital, LLCWholly owned subsidiary (B. Riley Commercial Capital, LLC)documented · listed as of December 31, 2025 · current or historical not established
  • Bryant R. Riley to Franchise Group, Inc.Director and reported 10% owner of Liberty Tax, Inc. (renamed Franchise Group); class plaintiffs say he resigned on March 31, 2020, the day Prophecy suspended redemptionsdocumented · September 2018 – March 2020 · historical
  • Bryant R. Riley to Freedom VCM Holdings, LLCDirector: rejoined the board in August 2023 and resigned in June 2025 after the November 3, 2024 bankruptcy filings; the 2026 proxy also attributes his September 2018 – March 2020 board seat to this companydocumented · August 2023 – June 2025 (and September 2018 – March 2020 per the 2026 proxy) · historical
  • Bryant R. Riley to Franchise Group, Inc.Shareholder: sold his 1,804 FRG shares on the closing date; shares he owned were excluded from the cash conversiondocumented · until August 21, 2023 · historical
  • Bryant R. Riley to Babcock & Wilcox Enterprises, Inc.Director of Babcock & Wilcox Enterprises, Inc.documented · April 2019 – September 2020 · historical
  • Bryant R. Riley to Babcock & Wilcox Enterprises, Inc.Shareholder: sold 1,155,382 B&W shares, held jointly with his spouse and through a family trust, to AFOB FIP MS, LLC for $10,398,438 and used the proceeds to repay his Axos credit linedocumented · until February 11, 2026 · historical
  • Randall E. Paulson to Franchise Group, Inc.Shareholder while a B. Riley director: filed a Form 3 for 40,000 FRG shares and a Form 4 disposing of all of them on the closing date; his EDGAR record also lists a 10% owner report on FRGdocumented · 10% owner report dated August 10, 2023; holding ended August 21, 2023 · historical
  • Brian Kahn to Franchise Group, Inc.President and chief executive officer from 2019 and director from 2018 (Liberty Tax, Inc., renamed Franchise Group)documented · director from 2018, CEO from 2019 (as of July 2023) · current or historical not established
  • Brian Kahn to Franchise Group, Inc.Shareholder and reported 10% owner; contributed his FRG shares to Freedom VCM Holdings and reported no direct holdings after the closingdocumented · until August 21, 2023 · historical
  • Brian Kahn to Babcock & Wilcox Enterprises, Inc.Reported as director and 10% owner of Babcock & Wilcox Enterprises, Inc.documented · EDGAR report dated August 13, 2019 · current or historical not established
  • Brian Kahn to Freedom VCM Holdings, LLCControlled the company as its sole director and executive officer (July 2023 merger proxy) and signed as its Presidentdocumented · 2023 (proxy of July 14, 2023; signature of August 21, 2023) · current or historical not established
  • Brian Kahn to Freedom VCM Holdings, LLCRolled over FRG shares for common membership interests under the rollover agreement: 2,154,807 shares in his name ($64.6 million) and 7,576,543 held jointly with Lauren Kahn ($227.3 million); with his wife and an affiliate held a 32% voting interest after closing (about 32.4% of TopCo equity per FRG's restructuring officer); equity cancelled under FRG's plandocumented · May 10, 2023 agreement; held from August 21, 2023 until the June 2025 plan · historical
  • Brian Kahn to Freedom VCM, Inc.President (signature of August 21, 2023), then chief executive officer and director until his resignationdocumented · August 21, 2023 – January 22, 2024 · historical
  • Brian Kahn to Vintage Capital Management, LLCFounder and investment manager; manager who signed its filingsdocumented · investment manager since 1998; manager in 2016 and 2023 filings · current or historical not established
  • Brian Kahn to Vintage Capital Management, LLCDirect member (5–10%) and control persondocumented · since April 2010 (Form ADV of February 29, 2016) · current or historical not established
  • Brian Kahn to Kahn Capital Management, LLCMember owning 75% or more and control persondocumented · since December 1999 (Form ADV of February 29, 2016) · current or historical not established
  • Brian Kahn to Kahn Capital Management, LLCManager (signed the August 2023 Schedule 13D amendment for the company)documented · as of August 2023 · current or historical not established
  • Kahn Capital Management, LLC to Vintage Capital Management, LLCMember owning 75% or more of Vintage Capital Managementdocumented · since April 2010 (Form ADV of February 29, 2016) · current or historical not established
  • Brian Kahn to Vintage Opportunity Partners, L.P.President (July 2023 merger proxy) and Manager (signing the August 21, 2023 Schedule 13E-3 amendment)documented · 2023 · current or historical not established
  • Vintage Opportunity Partners, L.P. to Freedom VCM Holdings, LLCRollover stockholder: committed 2,500,000 FRG shares ($75.0 million) for common membership interestsdocumented · agreement of May 10, 2023 · historical
  • Lauren Kahn and Brian KahnSpouses; joint holders, as tenants by the entirety, of FRG shares (1,000,000 in the 2019 Vintage Group schedule; 7,576,543 rolled over in 2023)documented · 2019–2023 records · current or historical not established
  • Lauren Kahn to Franchise Group, Inc.Joint holder with Brian Kahn of 1,000,000 FRG shares listed in the registration rights agreement scheduledocumented · as of October 23, 2019 · historical
  • Brian Kahn to B. Riley & Co., LLCResearch client of B. Riley from 1997, after founding Kahn Capital Management, according to Bryant Riley's 2024 accountreported · from 1997 (as described) · current or historical not established
  • Andrew M. Laurence to Franchise Group, Inc.Executive vice presidentdocumented · since 2019 (as of July 2023) · current or historical not established
  • Andrew M. Laurence to Franchise Group, Inc.Director (Liberty Tax, Inc., renamed Franchise Group)documented · 2018–2021 · historical
  • Andrew M. Laurence to Franchise Group, Inc.Shareholder; reported a disposition coded "D-Return" leaving no direct holdings on the closing datedocumented · until August 21, 2023 · historical
  • Andrew M. Laurence to Freedom VCM Holdings, LLCRollover stockholder: committed 573,482 FRG shares ($17.2 million) for common membership interestsdocumented · agreement of May 10, 2023 · historical
  • Andrew M. Laurence to Vintage Capital Management, LLCPartner (merger proxy) and manager (Form ADV)documented · partner since 2010; manager since April 2010 per the 2016 Form ADV · current or historical not established
  • B. Riley Securities, Inc. to Franchise Group, Inc.Holder, as B. Riley FBR, Inc., of 1,000,000 FRG shares listed in the registration rights agreement scheduledocumented · as of October 23, 2019 · historical
  • B. Riley Securities, Inc. to Vintage Capital Management, LLCFellow member, as B. Riley FBR, Inc., of the "Vintage Group" defined in Amendment No. 2 to FRG's registration rights agreementdocumented · October 23, 2019 · historical
  • B. Riley Securities, Inc. to Brian KahnFellow member, as B. Riley FBR, Inc., of the "Vintage Group" with Brian and Lauren Kahn as tenants by the entiretydocumented · October 23, 2019 · historical
  • Franchise Group, Inc. to B. Riley Principal Investments, LLCDebtor whose special committee directed an independent investigation of potential claims arising from, among other things, the take-private, the BRRII acquisition and other transactions with BRPI and its affiliatesdocumented · first-day declaration of November 4, 2024 · historical
  • Brian Kahn to Prophecy Asset Management, LPSub-adviser to Prophecy Asset Management, allocated most of its capital; charged in November 2025 and pleaded guilty on December 10, 2025 to one count of conspiracy to commit securities fraud in connection with his activities as a Prophecy sub-adviserdocumented · from 2017 · historical
  • U.S. Securities and Exchange Commission to Brian KahnPlaintiff in SEC v. Prophecy Asset Management, LP, Jeffrey Spotts, and Brian Kahn (D.N.J. No. 3:25-cv-16058), alleging advisory and securities fraud; stayed at the United States' request and recorded as terminated on May 19, 2026, with no merits ruling in the recorddocumented · filed September 29, 2025; terminated May 19, 2026 · historical
  • U.S. Securities and Exchange Commission to Prophecy Asset Management, LPPlaintiff in SEC v. Prophecy Asset Management, LP, Jeffrey Spotts, and Brian Kahn (D.N.J. No. 3:25-cv-16058); stayed and recorded as terminated on May 19, 2026, with no merits ruling in the recorddocumented · filed September 29, 2025; terminated May 19, 2026 · historical
  • U.S. Securities and Exchange Commission to BRC Group Holdings, Inc.Issued document subpoenas to the company on July 3 and November 22, 2024 and testimony subpoenas to current and former employees in June 2026, in an inquiry concerning dealings with Brian Kahn and Franchise Group (requests for information; no finding or enforcement action in the records)documented · since July 3, 2024; inquiry continuing as of the June 30, 2026 quarterly report · current at the evidence cutoff
  • U.S. Securities and Exchange Commission to Bryant R. RileyIssued document subpoenas to Bryant Riley on July 3 and November 22, 2024, the second also covering his personal loan and pledge of company shares (requests for information; no finding in the records)documented · July 3 and November 22, 2024; inquiry continuing in 2026 · current at the evidence cutoff
  • U.S. Securities and Exchange Commission to BRC Group Holdings, Inc.Division of Corporation Finance completed its review of the company's Form 8-K filed April 8, 2024 (routine review-completion letter, not a finding)documented · letter of September 23, 2024 · historical
  • B. Riley Commercial Capital, LLC to Sorrento Therapeutics, Inc.Lender under a bridge loan agreement of September 30, 2022; about $32.2 million of the borrower's payments are the subject of the liquidating trustee's pending preference suit (motion to dismiss denied September 12, 2025)documented · loan of September 30, 2022; preference suit filed June 16, 2025, pending · historical
  • BRC Group Holdings, Inc. to Willkie Farr & Gallagher LLPPlaintiff, with five subsidiaries, in a New York Supreme Court suit alleging aiding and abetting fraud, civil conspiracy and aiding and abetting breach of fiduciary duty over the 2023 Franchise Group take-private (pending; no ruling in the records)documented · since January 20, 2026 · current at the evidence cutoff
  • Willkie Farr & Gallagher LLP to Brian KahnCounsel to Brian Kahn in the 2023 Franchise Group take-private (Kahn met B. Riley with his Willkie counsel on April 18, 2023)documented · 2023 take-private transaction · historical
  • Willkie Farr & Gallagher LLP to Franchise Group, Inc.Counsel to Franchise Group, including in its Chapter 11 case until the Delaware Bankruptcy Court disqualified the firm on February 12, 2025, as described in the FRG Litigation Trust's complaint and a press reportreported · until February 12, 2025 (as reported) · historical
  • GlassRatner Advisory & Capital Group, LLC to Franchise Group, Inc.Financial adviser to Franchise Group on the consumer loan receivables originated and serviced by W.S. Badcock, as described in the FRG Litigation Trust's complaintreported · period not stated in the records · current or historical not established
  • Winston & Strawn LLP to BRC Group Holdings, Inc.Independent counsel retained by the company's Audit Committee to investigate transactions between Brian Kahn and his affiliates and the company; investigation completed by mid-March 2024 and its findings disclosed in April 2024documented · 2024 (completed by mid-March 2024) · historical
  • Franchise Group, Inc. Litigation Trust to BRC Group Holdings, Inc.Plaintiff suing the company (as B. Riley Financial) for aiding and abetting Kahn's fraud and breaches of fiduciary duty, unjust enrichment and civil conspiracy over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to Bryant R. RileyPlaintiff suing Bryant Riley for aiding and abetting breach of fiduciary duty and fraud, unjust enrichment, unlawful distribution and civil conspiracy over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to B. Riley Securities, Inc.Plaintiff naming B. Riley Securities, Inc. as a defendant in its civil-conspiracy count over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to GlassRatner Advisory & Capital Group, LLCPlaintiff naming GlassRatner Advisory & Capital Group, LLC (d/b/a B. Riley Advisory Services) as a defendant over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to Brian KahnPlaintiff suing Franchise Group's former chief executive Brian Kahn over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to Willkie Farr & Gallagher LLPPlaintiff naming Willkie Farr & Gallagher LLP as a defendant over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to Jefferies LLCPlaintiff naming Jefferies LLC as a defendant over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Franchise Group, Inc. Litigation Trust to Matthew AvrilPlaintiff naming Matthew Avril as a defendant over the 2023 take-privatedocumented · Delaware Court of Chancery Case No. 2026-1076, filed August 18, 2026; pending, no ruling in the records reviewed · current at the evidence cutoff
  • Bryant R. Riley and Brian KahnBusiness associates: by Riley's account they met in 1997 when Kahn, founder of Kahn Capital Management, was a B. Riley research client, and Riley calls Kahn no more than a business associate; they met in person on March 16 and 17, 2023 to discuss B. Riley's interest in acquiring Franchise Groupdocumented · from 1997 by Riley's account; meetings of March 16-17, 2023 · current or historical not established
  • Michael J. Sheldon and Bryant R. RileyFriendship disclosed on a directors' and officers' questionnaire and earlier joint service on the Aldila, Inc. board, as recited by the Court of Chancery from a derivative complaint; the court held these ties did not show that Sheldon lacked independencereported · Aldila board service about fifteen years before the 2025 complaint; friendship ongoing as alleged · current or historical not established
  • Robert D’Agostino and Bryant R. RileyPersonal and professional relationship of about 20 years (Lehigh University, the same fraternity, social meetings) acknowledged in a directors' and officers' questionnaire, as recited by the Court of Chancery from a derivative complaint; the court held this did not show that D’Agostino lacked independencereported · about 20 years as of the 2025 complaint · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Wealth Management, Inc.Indirect parent: acquired Wunderlich Securities, Inc. (renamed B. Riley Wealth Management in 2018) with Wunderlich Investment Company on July 3, 2017; held through B. Riley Wealth Management Holdings, Inc.documented · since July 3, 2017 · current at the evidence cutoff
  • Gary Wunderlich to B. Riley Wealth Management, Inc.Founder; director and officer of Wunderlich Securities, Inc. (now B. Riley Wealth Management) after the 2017 merger until he resigned all positions under a severance agreement of November 4, 2018documented · until November 4, 2018 · historical
  • Gary Wunderlich to B. Riley Wealth Management, Inc.Plaintiff seeking indemnification from Wunderlich Securities (now B. Riley Wealth Management) and B. Riley Financial in the Delaware Court of Chancery (C.A. No. 2020-0453-PAF); indemnification counts survived a motion to dismiss on March 24, 2021documented · filed June 10, 2020; later outcome not in the records · current or historical not established
  • Dominick & Dickerman, LLC to B. Riley Wealth Management, Inc.Claimant in a FINRA arbitration against Wunderlich Securities (now B. Riley Wealth Management) and Gary Wunderlich over the 2015 acquisition of Dominick & Dickerman; award of April 7, 2020 of about $10.5 million, then a confidential settlement of June 3, 2020documented · July 2017 to June 3, 2020 · historical
  • B. Riley Securities, Inc. to Nogin Commerce LLCAcquired 100% of the equity of the reorganized Nogin (Nogin Commerce LLC) as plan sponsor under the Chapter 11 plan effective May 3, 2024documented · since May 3, 2024; status after the March 2025 shutdown and involuntary Chapter 7 case not stated · current or historical not established
  • B. Riley Securities, Inc. to Nogin Commerce LLCPre- and post-petition lender to Nogin and secured lender after the May 2024 emergence; the assignee's declaration puts payments to B. Riley at about $125,000 of interest, while supplier creditors allege diverted cash went to B. Riley Securities or a lenderdocumented · from the 2023 Chapter 11 case to the March 2025 shutdown · current or historical not established
  • Nasdaq to BRC Group Holdings, Inc.Listing exchange for BRC's common stock (RILY), Series A and Series B preferred depositary shares and senior notes; the 5.50% notes (RILYK) were delisted on their redemption on March 30, 2026 and the 6.50% notes (RILYN) on September 29, 2026documented · listed securities as of the October 1, 2026 Form 8-K cover page · current at the evidence cutoff
  • Nasdaq to BRC Group Holdings, Inc.Its Listing Qualifications Staff sent five Staff Determination Letters for late periodic reports (April 3 to November 21, 2025); a Hearings Panel granted continued listing on conditions on November 18, 2025, and Nasdaq confirmed regained compliance with a one-year Mandatory Panel Monitor on January 27, 2026documented · April 3, 2025 – January 2027 (panel monitor for one year from January 27, 2026) · current at the evidence cutoff
  • BDO USA, P.C. to BRC Group Holdings, Inc.Independent registered public accounting firm for 2025 and 2026: approved by the Audit Committee on September 8, 2025 after an independence assessment, and ratified by stockholders for 2026 on May 19, 2026documented · fiscal years 2025–2026 (appointed September 8, 2025) · current at the evidence cutoff
  • Marcum LLP to BRC Group Holdings, Inc.Independent auditor from the fiscal year 2006 through the 2024 audit; dismissed by the Audit Committee on September 8, 2025, effective on completion of the 2024 audit, with no disagreements reporteddocumented · fiscal years 2006–2024; dismissed September 8, 2025 · historical
  • DBA Trading, LLC to BRC Group Holdings, Inc.Holder of more than 5% of the common stock together with Daniel Asher: 3,017,041 shares (8.7%) as of March 26, 2026, after its holding passed 5% with the exchange of March 10, 2026documented · as of March 26, 2026 (above 5% from March 10, 2026) · current or historical not established
  • BRC Group Holdings, Inc. to DBA Trading, LLCIssued common stock to DBA Trading in exchange for its holdings of BRC's senior notes under Section 3(a)(9): five exchanges from February 6 to March 26, 2026 and further exchanges in the second quarter, in all $69.1 million principal for 8,358,495 shares in the first half of 2026documented · February 6 – June 30, 2026 · current or historical not established
  • Oaktree Capital Management, L.P. to BRC Group Holdings, Inc.Funds it controls are the lenders to BRC and BR Financial Holdings under the February 26, 2025 credit agreement: a $125 million term loan and a $35 million delayed-draw loan used mainly to repay the Nomura facility; asset sales required $97.5 million of repayments in 2025, leaving $62.5 million outstanding at December 31, 2025 and June 30, 2026, secured mainly by BRC's interests in Great American Holdingsdocumented · since February 26, 2025 (term loan maturing February 26, 2028) · current at the evidence cutoff
  • Oaktree Capital Management, L.P. to BRC Group Holdings, Inc.Its affiliates received warrants to buy about 1,832,290 BRC shares (6% fully diluted) at $5.14 with the February 2025 term loan; the warrants were exercised in full on a cashless basis on May 29, 2026, for 915,251 sharesdocumented · February 26, 2025 – May 29, 2026 · historical
  • Oaktree Capital Management, L.P. to BRC Group Holdings, Inc.Oaktree funds backed, through equity commitment letters, the three buyer vehicles that acquired control of Great American Holdings from BRC's subsidiary BR Financial Holdings under the agreement of October 13, 2024, to which BRC was a party as ultimate parent for one sectiondocumented · agreement of October 13, 2024 · historical
  • Oaktree Fund Administration, LLC to BRC Group Holdings, Inc.Administrative and collateral agent for the lenders under the February 26, 2025 credit agreement with BRC and BR Financial Holdings, including Amendment No. 6, Consent and Waiver, of September 28, 2026 for the Sangoma acquisitiondocumented · since February 26, 2025 · current at the evidence cutoff
  • Nomura Corporate Funding Americas, LLC to BRC Group Holdings, Inc.Administrative agent for the lenders under BRC's credit agreements of June 23, 2021 (with BRFH and BR Advisory & Investments; $300 million term loan and $80 million revolver) and August 21, 2023 (with BRFH; $500 million term loan and $100 million revolver, amended September 17, 2024); the remaining Nomura debt was repaid from the Oaktree loan in February 2025documented · June 23, 2021 – February 2025 (second agreement from August 21, 2023) · historical
  • Wells Fargo Bank, N.A. to BRC Group Holdings, Inc.Collateral agent under BRC's June 23, 2021 credit agreement with Nomura as administrative agent (four-year secured term loan and revolving facility)documented · from June 23, 2021 (four-year facilities) · historical
  • Computershare Trust Company, N.A. to BRC Group Holdings, Inc.Collateral agent under BRC's August 21, 2023 credit agreement with Nomura as administrative agent ($500 million term loan and $100 million revolving facility)documented · from August 21, 2023 · current or historical not established
  • GLAS Trust Company LLC to BRC Group Holdings, Inc.Trustee and collateral agent for BRC's 8.00% Senior Secured Second Lien Notes due January 1, 2028 ('New Notes'), issued in five 2025 exchanges under the indenture of March 26, 2025documented · since March 26, 2025 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Banc of California, N.A.Secured guarantor of Lingo Management's term loan from Banc of California under the August 16, 2022 credit agreement ($45 million, raised to $73 million), repaid on January 6, 2025documented · August 16, 2022 – January 6, 2025 · historical
  • Banc of California, N.A. to BRPI Acquisition Co LLCAgent and lender under BRPAC's telecom credit agreement, amended and restated on January 6, 2025 with a new five-year $80 million term loandocumented · since January 6, 2025 · current at the evidence cutoff
  • Banc of California, N.A. to Lingo Management, LLCAdministrative agent and lender for Lingo's August 16, 2022 term loan ($45 million, raised to $73 million), repaid on January 6, 2025, when Lingo was added as a borrower under the amended and restated BRPAC credit agreementdocumented · since August 16, 2022 · current at the evidence cutoff
  • PNC Bank, National Association to Targus Cayman Holdco LimitedAgent and security trustee under Targus's October 18, 2022 credit agreement (five-year $28 million term loan and $85 million revolver); amended seven times after covenant breaches and refinanced in full by the FGI facility on August 20, 2025documented · October 18, 2022 – August 20, 2025 · historical
  • FGI Worldwide LLC to Targus Cayman Holdco LimitedAgent under Targus's three-year $30 million revolving credit, receivables purchase, security and guaranty agreement of August 20, 2025, secured by all assets of the loan partiesdocumented · since August 20, 2025 (maturing August 20, 2028) · current at the evidence cutoff
  • B. Riley Commercial Capital, LLC to Targus Cayman Holdco LimitedSubordinated intercompany lender to Targus: loan raised from $5.0 million to $10.0 million at the FGI closing on August 20, 2025 and to $12.0 million on March 13, 2026documented · as of August 20, 2025 and March 13, 2026 · current at the evidence cutoff
  • SLR Credit Solutions to bebe stores, inc.Lender of bebe stores' five-year $25 million term loan, consolidated in BRC's term loans from October 6, 2023 and repaid on October 25, 2024 from the Brands Transaction proceedsdocumented · until October 25, 2024 · historical
  • BRC Group Holdings, Inc. to BR Financial Holdings, LLCSole owner of BR Financial Holdings, LLC (Delaware), its co-borrower under the 2021 and 2023 Nomura credit agreements and the 2025 Oaktree credit agreementdocumented · wholly owned per the 2021 credit agreement; listed at December 31, 2025; co-borrower through Amendment No. 6 of September 28, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to BRPI Acquisition Co LLCParent of BRPI Acquisition Co LLC (Delaware), borrower under the Banc of California telecom credit agreement and named borrower in the September 2026 New Telecom Facility commitmentdocumented · listed at December 31, 2025; borrower through September 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to B. Riley Principal Investments, LLCSole owner of B. Riley Principal Investments, LLC (Delaware), its principal-investment subsidiarydocumented · wholly owned per a May 2021 Schedule 13D; listed at December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to Targus Cayman Holdco LimitedAcquired all issued shares of Targus Cayman Holdco Limited on October 18, 2022; Targus borrows under its own revolving facilities and from BRC subsidiary B. Riley Commercial Capitaldocumented · since October 18, 2022 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Targus Cayman Holdco LimitedHeld a 'Keepwell' right under Targus's PNC credit agreement to cure covenant breaches with capital: contributed $1.6 million on August 14, 2024 and repaid Targus's term loan with $7.5 million of its own cash and revolver advances in November 2024documented · February 20, 2024 – November 2024 · historical
  • BRC Group Holdings, Inc. to bebe stores, inc.Majority owner of bebe stores, inc. (California; owned less than 100%) since October 6, 2023; received the remainder of the October 2024 brand-sale proceeds as a dividenddocumented · since October 6, 2023; listed at December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Brand Management, LLCParent of B. Riley Brand Management, LLC (Delaware), the subsidiary that transferred the brand interests in the October 2024 Brands Transactiondocumented · listed at December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Advisory US, Inc.Parent of B. Riley Advisory US, Inc. (Delaware), the subsidiary that sold B. Riley Farber Advisory in June 2025documented · listed at December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to Nogin Holdings, LLCLists Nogin Holdings, LLC (Delaware) among its subsidiaries in Exhibit 21.1 to the 2025 annual reportdocumented · listed at December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to Great American Holdings, LLCEquity-method investor with board representation after the November 2024 sale of control: 38.4% of Great American Holdings at December 31, 2025 and June 30, 2026; its common and preferred interests in GA Holdings are the main collateral for the Oaktree term loandocumented · since November 15, 2024; 38.4% as of June 30, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Great American Holdings, LLCContributed its appraisal and valuation, retail, wholesale and industrial solutions and real estate businesses to Great American Holdings and, through BR Financial Holdings, sold all class A preferred units and 52.591% of the class A common units to Oaktree-backed buyers for about $203.0 milliondocumented · agreement of October 13, 2024; completed November 2024 · historical
  • BRC Group Holdings, Inc. to Great American Holdings, LLCProvided Great American Holdings a $25 million secured revolving credit facility at the November 15, 2024 closing (temporarily $40 million in 2025), repaid and terminated on October 16, 2025documented · November 15, 2024 – October 16, 2025 · historical
  • BR Financial Holdings, LLC to Great American Holdings, LLCOwned all units of Great American Holdings before the October 13, 2024 equity purchase agreement, in which it was a seller and the sellers' representativedocumented · until November 2024 (agreement of October 13, 2024) · historical
  • OCM SSF III Great American PT, L.P. to Great American Holdings, LLCOne of three Oaktree-backed buyers that together acquired all class A preferred units and 52.591% of the class A common units of Great American Holdingsdocumented · agreement of October 13, 2024 · current or historical not established
  • Opps XII Great American Holdings, LLC to Great American Holdings, LLCOne of three Oaktree-backed buyers that together acquired all class A preferred units and 52.591% of the class A common units of Great American Holdingsdocumented · agreement of October 13, 2024 · current or historical not established
  • VOF Great American Holdings, L.P. to Great American Holdings, LLCOne of three Oaktree-backed buyers that together acquired all class A preferred units and 52.591% of the class A common units of Great American Holdingsdocumented · agreement of October 13, 2024 · current or historical not established
  • Oaktree Capital Management, L.P. to OCM SSF III Great American PT, L.P.Signs for OCM SSF III Great American PT, L.P. as director of its general partner (equity purchase agreement signature block)documented · agreement of October 13, 2024 · current or historical not established
  • BRC Group Holdings, Inc. to Atlantic Coast Recycling, LLCMajority owner, through BR Financial Holdings, B. Riley Environmental Holdings and ReVal Group, of Atlantic Coast Recycling, LLC until its sale on March 3, 2025 for $102.5 million (BRC cash proceeds $68.6 million)documented · until March 3, 2025 · historical
  • ReVal Group, LLC to Atlantic Coast Recycling, LLCMember of Atlantic Coast Recycling, LLC and Atlantic Coast Recycling of Ocean County, LLC and a seller-side party to their saledocumented · until the sale under the agreement of March 1, 2025 · historical
  • Atlantic Coast Recycling Holdings, Inc. to Atlantic Coast Recycling, LLCPurchaser of the membership interests of Atlantic Coast Recycling, LLC and Atlantic Coast Recycling of Ocean County, LLC (base price $96,454,261 before adjustments)documented · agreement of March 1, 2025 · current or historical not established
  • Atlantic Coast Recycling Holdings, Inc. to BRC Group Holdings, Inc.Counterparty purchaser to the March 1, 2025 membership interest purchase agreement in which B. Riley Financial, Inc. was a seller-side partydocumented · agreement of March 1, 2025 · historical
  • InfraNext Partners Holdings LLC to Atlantic Coast Recycling Holdings, Inc.Seller-side party to the March 1, 2025 membership interest purchase agreement with the purchaser of the recycling companiesdocumented · agreement of March 1, 2025 · historical
  • Stifel Financial Corp. to BRC Group Holdings, Inc.Bought part of BRC's W-2 wealth management business for net cash of $26.0 million in April 2025 and reported adding 36 experienced financial advisors from B. Riley in the second quarter of 2025documented · April 2025 · historical
  • BRC Group Holdings, Inc. to GlassRatner Advisory & Capital Group, LLCIndirect parent, through B. Riley Advisory Holdings, of GlassRatner Advisory & Capital Group, LLC, which did business as B. Riley Advisory Services from the September 2020 rebranding until its sale on June 27, 2025documented · until June 27, 2025 · historical
  • B. Riley Advisory Holdings, LLC to GlassRatner Advisory & Capital Group, LLCOwned all membership interests of GlassRatner Advisory & Capital Group and sold them to Gallop U.S. Acquireco Inc.documented · until June 27, 2025 · historical
  • Gallop U.S. Acquireco Inc. to GlassRatner Advisory & Capital Group, LLCAcquired all membership interests of GlassRatner Advisory & Capital Group under the equity purchase agreement of June 27, 2025documented · since June 27, 2025 (agreement date) · current or historical not established
  • TorQuest Partners Management Inc. to GlassRatner Advisory & Capital Group, LLCParty with GlassRatner to a confidentiality agreement effective September 10, 2024, referred to in the June 27, 2025 equity purchase agreementdocumented · effective September 10, 2024 · historical
  • BRC Group Holdings, Inc. to B. Riley Farber Advisory Inc.Indirect parent, through B. Riley Advisory US, of B. Riley Farber Advisory Inc. (Ontario) until its sale on June 27, 2025documented · until June 27, 2025 · historical
  • B. Riley Advisory US, Inc. to B. Riley Farber Advisory Inc.Owned all shares of B. Riley Farber Advisory Inc. and sold them to 1001243443 Ontario Inc.documented · until June 27, 2025 · historical
  • 1001243443 Ontario Inc. to B. Riley Farber Advisory Inc.Acquired all shares of B. Riley Farber Advisory Inc. under the equity purchase agreement of June 27, 2025documented · since June 27, 2025 (agreement date) · current or historical not established
  • B. Riley Brand Management, LLC to BR Funding Holdings 2024-1 LLCTransferred and contributed to BR Funding Holdings 2024-1 LLC 80% of BR Brand Holdings LLC, 42.91% of HRLY Brand Management LLC, 40.85% of Justice Brand Management LLC and 10.29% of S&S Brand Management LLC, at a fair market value agreed by the partiesdocumented · agreement of October 25, 2024 · historical
  • Bluestar Alliance LLC to BR Funding Holdings 2024-1 LLCAsset vehicle manager under the note purchase and security agreement entered into by BR Funding Holdings 2024-1 LLC on October 25, 2024documented · since October 25, 2024 · current or historical not established
  • HBN 120, LLC to bebe stores, inc.Bought bebe's 50.00% interest in BB Brand Holdings LLC ($33,500,000) and 28.53% interest in BKST Brand Management LLC ($13,124,420)documented · agreement of October 25, 2024 · historical
  • BRC Group Holdings, Inc. to California Natural Resources Group, LLCHeld about 25.0% of California Natural Resources Group and guaranteed up to $7.375 million of its bank credit facility; sold the stake for $9.272 million on May 23, 2024documented · until May 23, 2024 · historical
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.Shareholder, through B. Riley Securities and BRF Investments; largest holder per B&W's 2026 proxy (27,446,522 shares, 20.4%); voting interest 29.1% at December 31, 2024, 25% at December 31, 2025 and 19% at June 30, 2026documented · Reported as a more-than-10% owner from July 2019; dated holdings to June 30, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.Holder of investor rights under an April 2019 agreement: may nominate one B&W director and has pre-emptive rights on certain B&W equity issuesdocumented · Since April 2019 (in force at March 31, 2026) · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.Guarantor of up to $110,000,000 of B&W obligations to providers of cash collateral for B&W's debt financing (the "B. Riley Guaranty"), for a fee of $935,000 a yeardocumented · From June 30, 2021 · current or historical not established
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.Indemnitor of one of B&W's sureties under a €30 million payment and performance bond for a B&W construction project; obligation €5 million at June 30, 2026documented · Since December 22, 2021 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.Guarantor of B&W obligations under B&W's credit agreement with Axos Bank as administrative agent, capped at $150,000,000, for a fee of 2.00% of the revolving commitments; obligations suspended on June 18, 2025documented · January 18, 2024 – February 25, 2026 (terminated) · historical
  • BRC Group Holdings, Inc. to Axos BankGuarantor in favour of Axos Bank, as administrative agent for B&W's lenders, of B&W's credit-agreement obligations (capped at $150,000,000)documented · January 18, 2024 – February 25, 2026 (terminated) · historical
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.Underwriter, at-the-market sales agent (sales agreements of April 2024 and November 4, 2025; 3.0% commission) and financial adviser (3.0% fee on qualified debt financing from early 2026) on B&W capital raising; fees of $3,849,648 in 2024, $8,009,995 in 2025 and $12.5 million in the first half of 2026documented · From 2024 (no fees in 2023), including the November 4, 2025 sales agreement, to June 30, 2026 · current at the evidence cutoff
  • B. Riley Securities, Inc. to Babcock & Wilcox Enterprises, Inc.Financial adviser under an advisory agreement described in B&W's 2026 proxy: $500,000 cash fee and 3% of the value of any completed financingdocumented · As of B&W's 2026 proxy statement · current at the evidence cutoff
  • B. Riley Securities, Inc. to Babcock & Wilcox Enterprises, Inc.Shareholder: 15,573,362 B&W shares (counted in BRC's 20.4% holding)documented · After the February 11, 2026 sale by Bryant Riley; as of February 13, 2026 · current at the evidence cutoff
  • BRF Investments, LLC to Babcock & Wilcox Enterprises, Inc.Shareholder: 11,873,160 B&W shares (counted in BRC's 20.4% holding)documented · After the February 11, 2026 sale by Bryant Riley; as of February 13, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Babcock & Wilcox Enterprises, Inc.B. Riley-affiliated holders held about 30% of B&W after B&W's 2018 rights offering (short seller's account)reported · 2018 (as reported) · historical
  • Kenneth M. Young to Babcock & Wilcox Enterprises, Inc.Chief Executive Officer; until September 20, 2024 his services were provided under a consulting agreement between B&W and BRPI Executive Consulting, LLCdocumented · Since November 2018 · current at the evidence cutoff
  • Kenneth M. Young to Babcock & Wilcox Enterprises, Inc.Chairman of the boarddocumented · Since September 2020 · current at the evidence cutoff
  • Kenneth M. Young to BRPI Executive Consulting, LLCChief executive services for B&W provided through this B. Riley affiliate's consulting agreement with B&W ($750,000 a year per BRC's proxy)documented · November 2018 – September 20, 2024 · historical
  • BRPI Executive Consulting, LLC to Babcock & Wilcox Enterprises, Inc.Provider of Kenneth M. Young as B&W chief executive under a consulting agreement; received a $1,000,000 retention bonus from B&W in 2022documented · November 2018 – September 20, 2024 · historical
  • Kenneth M. Young to BRC Group Holdings, Inc.Presidentdocumented · July 2018 – September 20, 2024 · historical
  • Kenneth M. Young to BRC Group Holdings, Inc.Director and chair of the Audit Committeedocumented · May 2015 – October 2016 · historical
  • Kenneth M. Young to BRC Group Holdings, Inc.Consultant under a one-year agreement at $250,000 a year after resigning as Presidentdocumented · September 20, 2024 – September 20, 2025 (expired) · historical
  • BDO USA, P.C. to Babcock & Wilcox Enterprises, Inc.Independent registered public accounting firm (appointment put to shareholders for ratification)documented · As of B&W's 2026 proxy statement · current at the evidence cutoff
  • Babcock & Wilcox Enterprises, Inc. to Base Electron, Inc.Contractor under a definitive agreement for four 300-megawatt natural-gas power plants for an AI factory, total consideration $2.4 billiondocumented · Effective February 26, 2026 · current at the evidence cutoff
  • Base Electron, Inc. to Babcock & Wilcox Enterprises, Inc.Holder of a warrant for 5,230,000 B&W shares, issued directly to Base Electron after Applied Digital assigned its purchase rightdocumented · Since March 18, 2026 · current or historical not established
  • The Babcock & Wilcox Company to Base Electron, Inc.Design-build contractor for a power plant of about 1.2 GW under a Design-Build Agreementdocumented · Since February 26, 2026 · current or historical not established
  • Babcock & Wilcox Enterprises, Inc. to Applied Digital CorporationContractor under a limited notice to proceed for four 300-megawatt power plants; issued Applied Digital 0.5 million shares and warrants in connection with itdocumented · From November 2025 (superseded by the February 26, 2026 agreement with Base Electron) · historical
  • Applied Digital Corporation to Base Electron, Inc.Shareholder: about 10% of Base Electron's equity, issued as partial consideration for Applied Digital's performance guarantee (valued at $2.0 million)documented · Since 2026 (guarantee dated February 26, 2026) · current or historical not established
  • Applied Digital Corporation to Base Electron, Inc.Guarantor of Base Electron's performance under its February 26, 2026 Design-Build Agreement with The Babcock & Wilcox Company, terminable on payment of a $50 million (to August 1, 2026) or $100 million feedocumented · From February 26, 2026 · current or historical not established
  • Bryant R. Riley to Base Electron, Inc.Director, as listed in a Nevada register entry reproduced by a short seller and alleged by class-action plaintiffs; Applied Digital and B&W filings do not name himreported · December 23, 2025 – March 2026 (as reported) · historical
  • Wesley Cummins to Base Electron, Inc.Director from incorporation and President from March 2026, per register records reproduced in two short sellers' reportsreported · Since December 23, 2025; President from March 19, 2026 (as reported) · current or historical not established
  • Base Electron, Inc. and BRC Group Holdings, Inc.Register entry reproduced by a short seller listed Base Electron's directors at BRC's business address, 11100 Santa Monica Blvd., Suite 800, Los Angeles; a later record gives a Dallas addressreported · December 23, 2025 – March 2026 (as reported) · historical
  • Base Electron, Inc. and Applied Digital CorporationLater register record reproduced by a second short seller lists Base Electron's officers at a Dallas address that Base Electron shares with Applied Digitalreported · From March 19, 2026 (as reported) · current or historical not established
  • Bryant R. Riley to AFOB FIP MS, LLCSeller, jointly with his spouse and a Riley family trust, of 1,155,382 B&W shares for $10,398,438 under a stock purchase agreement; approval of BRC's Audit Committee was the only consent requireddocumented · February 11, 2026 · historical
  • AFO Blackberry LLC to AFOB FIP MS, LLCManager of the limited liability companydocumented · As of February 11, 2026 · current or historical not established
  • B. Riley Asset Management, LLC to Applied Digital CorporationBought 605,000 Applied Digital shares on the open market for about $1,663,900documented · January 12 – May 17, 2023 · current or historical not established
  • Wesley Cummins to B. Riley Asset Management, LLCPresidentdocumented · Including January–May 2023 (former, per a November 2024 Schedule 13D/A) · historical
  • B. Riley Principal Investments, LLC to Applied Digital CorporationBought 160,000 Applied Digital shares from Wes Cummins at $15.26 a share ($2,441,600)documented · September 3, 2025 · current or historical not established
  • B. Riley Principal Investments, LLC to Applied Digital CorporationInvestor party to Applied Digital's preferred equity purchase agreement (sixth amendment)documented · As of June 26, 2026 · current or historical not established
  • B. Riley Principal Capital, LLC to Applied Digital CorporationBought 120,000 Applied Digital shares from Wes Cummins ($1,831,200); investor party to the preferred equity purchase agreement (sixth amendment, June 26, 2026)documented · September 3, 2025 – June 26, 2026 · current or historical not established
  • B. Riley Wealth Management Holdings, Inc. to Applied Digital CorporationBought 120,000 Applied Digital shares from Wes Cummins ($1,831,200); investor party to the preferred equity purchase agreement (sixth amendment, June 26, 2026)documented · September 3, 2025 – June 26, 2026 · current or historical not established
  • Wesley Cummins to B. Riley Principal Investments, LLCSeller of 160,000 Applied Digital shares to BRPI under a stock purchase agreement (400,000 shares in all to three BRC subsidiaries)documented · September 3, 2025 · historical
  • BRC Group Holdings, Inc. to Applied Digital CorporationUnderwriter and financial adviser ($393 thousand of fees in 2024); Applied Digital was a related party while its chief executive and later another director were BRC subsidiary managersdocumented · Related party until March 31, 2025 · historical
  • BRC Group Holdings, Inc. to Applied Digital CorporationHolder of Applied Digital common stock ($1.0 million) and preferred stock ($80.0 million) in BRC's securities portfoliodocumented · As of June 30, 2026 · current at the evidence cutoff
  • B. Riley Principal Capital, LLC to Biomerica IncShareholder: bought 460,080 shares at $1.60 in a private placement (10.03%; Item 5 of the Schedule 13D gives 480,060); entitled to appoint a board representativedocumented · Since August 25, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Biomerica IncIndirect holder through B. Riley Principal Capital; reported as a more-than-10% ownerdocumented · Since August 25, 2026 · current at the evidence cutoff
  • B. Riley Securities, Inc. to Biomerica IncExclusive financial adviser on potential strategic transactions for an initial term of 24 monthsdocumented · From August 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Synchronoss Technologies IncShareholder through subsidiaries: reported as a more-than-10% owner in 2021; below 5% after March 14, 2025, when B. Riley Principal Investments held 15,000 shares and B. Riley Securities 496,474documented · June 25, 2021 report – March 14, 2025 · historical
  • BRF Investments, LLC to Synchronoss Technologies IncNote holder party, with B. Riley Securities, to a note repurchase agreementdocumented · June 28, 2024 · historical
  • B. Riley Securities, Inc. to Synchronoss Technologies IncNote holder party, with BRF Investments, to a note repurchase agreementdocumented · June 28, 2024 · historical
  • BRF Investments, LLC to Eos Energy Enterprises, Inc.Shareholder: 3,615,062 shares and warrants for 325,000 shares, together 7.1% of the common stockdocumented · As of August 4, 2022 · current or historical not established
  • BRC Group Holdings, Inc. to Eos Energy Enterprises, Inc.Reported as a more-than-10% owner (EDGAR owner page)documented · September 30, 2021 report · current or historical not established
  • BRC Group Holdings, Inc. to TransAct Technologies IncReported as a more-than-10% owner (EDGAR owner page)documented · July 5, 2022 report · current or historical not established
  • BRC Group Holdings, Inc. to FaZe Holdings, Inc.Reported as a more-than-10% owner (EDGAR owner page)documented · February 18, 2021 report · current or historical not established
  • BRC Group Holdings, Inc. to Select Interior Concepts, Inc.Reported as director and more-than-10% owner (EDGAR owner page)documented · June 10, 2020 report · current or historical not established
  • BRC Group Holdings, Inc. to Quantum CorpReported as a more-than-10% owner (EDGAR owner page)documented · December 3, 2019 report · current or historical not established
  • BRC Group Holdings, Inc. to Alta Equipment Group Inc.Reported as a more-than-10% owner (EDGAR owner page)documented · April 30, 2019 report · current or historical not established
  • BRC Group Holdings, Inc. to Sonim Technologies, Inc.Reported as a more-than-10% owner (EDGAR owner page)documented · May 9, 2019 report · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Principal 250 Merger Corp.Reported as a more-than-10% owner (EDGAR owner page)documented · 2021 report · current or historical not established
  • BRC Group Holdings, Inc. to DoubleDown Interactive Co., Ltd.Holder of DoubleDown Interactive shares ($18.8 million)documented · As of June 30, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Space Exploration Technologies Corp.Holds, through subsidiaries, carried interest in client special purpose vehicles invested in SpaceX (about $233 million invested by clients; gross value of the carried interest about $84.2 million on June 12, 2026)documented · SPVs funded 2018–2021; valued June 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Enovum NC-1 Venture, LLCLender: bought a $20 million share of Enovum's delayed-draw term loan for $19.4 million (9.50%, due August 24, 2026, minimum return 1.1 times principal)documented · From May 26, 2026 · current or historical not established
  • BRC Group Holdings, Inc. to SW-B. Riley Retail Opportunity FundEquity-method investor: 22.6% ($7.0 million)documented · As of June 30, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to BRC TrustPrimary beneficiary that consolidates the trust as a variable interest entity; owns 13.3% of its equity (BRC's related parties 58.2%)documented · Since January 6, 2025 · current at the evidence cutoff
  • BRC Trust to BRC Partners Opportunity Fund, L.P.Successor that took over the partnership's assets and liabilities in order to liquidate themdocumented · January 6, 2025 · historical
  • B. Riley Principal Investments, LLC to B. Riley Principal 250 Sponsor Co., LLCSole member of the SPAC sponsordocumented · As of May 2021 · current or historical not established
  • B. Riley Principal 250 Sponsor Co., LLC to B. Riley Principal 250 Merger Corp.Sponsor holding the SPAC's founder securitiesdocumented · As of May 2021 · historical
  • BRC Group Holdings, Inc. to The Arena Group Holdings, Inc.Lender: loans carried at $98,729,000 at December 31, 2022, increased by $6,000,000 at 10.0% on August 31, 2023; interest income $10,882,000 in 2023documented · Until the sale of BRC's interests on December 1, 2023 · historical
  • BRC Group Holdings, Inc. to The Arena Group Holdings, Inc.Holder of equity interests in Arena, sold together with its loansdocumented · Until December 1, 2023 · historical
  • Bryant R. Riley to The Arena Group Holdings, Inc.With his affiliates, holder of more than 5% of Arena's sharesdocumented · During 2023, until the sale on December 1, 2023 · historical
  • BRC Group Holdings, Inc. to Exela Receivables 3 Holdco, LLCLender through subsidiaries: $31.5 million loan of February 27, 2023 by B. Riley Commercial Capital at Term SOFR plus 7.50%, later assigned to another BRC subsidiarydocumented · February 27, 2023 – July 29, 2025 (borrower replaced) · historical
  • BRC Group Holdings, Inc. to XBP Americas, LLCLender through a subsidiary: XBP Americas became borrower of the restructured Exela loan ($9.5 million principal at June 30, 2026, due September 30, 2026)documented · Since July 29, 2025 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to GA Joann Retail Partnership, LLCCo-lender: committed $24.7 million of a $52 million credit facility at 10.00% paid in kind; repaid in fulldocumented · February 27 – April 7, 2025 · historical
  • BRC Group Holdings, Inc. to Dash Medical Holdings, LLCMinority equity holder: interest bought for $2,400,000 through B. Riley Principal Investments as part of director Randall E. Paulson's acquisition of Dash; sold for $2,760,000 with Audit Committee approval (Paulson excluded)documented · March 2, 2021 – June 13, 2024 · historical
  • BRC Group Holdings, Inc. to Dash Medical Holdings, LLCLender of $3,000,000 to Dash Holding Company, Inc. under a subordinated working-capital note; repaid with $96,435 of interestdocumented · March 2021 – April 27, 2022 · historical
  • B. Riley Principal Investments, LLC to Dash Medical Holdings, LLCSubscribed for 2,400 Class A units at $1,000 each ($2,400,000)documented · March 1, 2021 (held until the June 13, 2024 sale) · historical
  • Phillip J. Ahn to B. Riley Principal Investments, LLCChief Financial Officer (signed the Dash subscription agreement)documented · As of March 1, 2021 · historical
  • John Ahn to Whitehawk Capital Partners, L.P.Controls the limited partnershipdocumented · As described in BRC's 2024–2026 proxy statements · current or historical not established
  • John Ahn and Phillip J. AhnBrother of Phil Ahn, BRC's Chief Financial Officer and Chief Operating Officer until June 3, 2025documented · As disclosed in BRC's proxy statements · current at the evidence cutoff
  • Whitehawk Capital Partners, L.P. to BRC Group Holdings, Inc.Investment adviser to BRC's subsidiary partnerships GACP I, L.P. and GACP II, L.P. (management fees $1,142,000 for 2023 and $2,272,000 for 2024)documented · 2023–2024 (partnerships wound down in June and December 2024) · historical
  • Whitehawk Capital Partners, L.P. to BRC Group Holdings, Inc.Manager of a fund that bought a BRC loan receivable with principal of $4,521,000 for $4,584,000documented · February 1, 2024 · historical
  • Charlie Riley to Bryant R. RileySon of Bryant Rileydocumented · As disclosed in BRC's 2026 proxy statement · current at the evidence cutoff
  • Charlie Riley to B. Riley Principal Investments, LLCAssociate (employee); compensation $217,785 for 2023, $246,129 for 2024 and $297,269 for 2025documented · Including 2023–2025 (as of April 2026) · current at the evidence cutoff
  • B. Riley Securities, Inc. to Q-Mation, Inc.Exclusive financial adviser for a possible sale or recapitalization; earned a $2,650,000 advisory fee on the sale of Q-Mationdocumented · September 2023 – December 2024 · historical
  • Bryant R. Riley to B. Riley Principal Investments, LLCCo-Chief Executive Officer (signed the September 3, 2025 stock purchase agreement in that capacity)documented · As of September 3, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to B. Riley Securities Holdings, Inc.Majority shareholder of the broker-dealer holding company: wholly owned until a March 10, 2025 shell merger issued 0.6% to outside investors; 89.4% at that date, 90.7% at December 31, 2025 and 92.9% at June 30, 2026 (assuming full vesting)documented · Majority-owned since March 10, 2025; as of June 30, 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to B. Riley Principal Capital, LLCParent, indirectly through B. Riley Securities Holdings, Inc.documented · As of December 31, 2025 and September 2026 · current at the evidence cutoff
  • B. Riley Securities Holdings, Inc. to B. Riley Principal Capital, LLCParent companydocumented · As of September 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to B. Riley Principal Capital II, LLCParent (Delaware subsidiary listed in Exhibit 21.1)documented · As of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to BRF Investments, LLCParent (wholly owned subsidiary)documented · As of 2022–2026 filings · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Lingo Management, LLCParent (telecommunications subsidiary listed in Exhibit 21.1; borrower under the telecom credit facilities)documented · As of December 31, 2025 and September 2026 · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Lingo Management, LLCSecured guarantor of Lingo's $45.0 million term loan (later $73.0 million) from Banc of California, used for the BullsEye Telecom purchasedocumented · August 16, 2022 – January 6, 2025 (repaid) · historical
  • BRC Group Holdings, Inc. to United Online, Inc.Parent (telecommunications subsidiary listed in Exhibit 21.1)documented · As of December 31, 2025 · current or historical not established
  • BRC Group Holdings, Inc. to 1001755979 Ontario Inc.Parent (wholly owned Ontario subsidiary acting as purchaser of Sangoma)documented · As of September 28, 2026 · current at the evidence cutoff
  • Bryant R. Riley to 1001755979 Ontario Inc.Authorized signatory (signed the arrangement agreement)documented · September 28, 2026 · current or historical not established
  • BRC Group Holdings, Inc. to Sangoma Technologies CorporationAcquirer, through 1001755979 Ontario Inc., under an arrangement agreement: 0.04767 BRC share and US$4.925 in cash per Sangoma share (enterprise value about US$204 million); closing expected in January 2027documented · Confidentiality agreement April 6, 2026; arrangement agreement September 28, 2026 (pending) · current at the evidence cutoff
  • BRC Group Holdings, Inc. to Sangoma Technologies CorporationParent guarantor of the purchaser's payment and performance obligations under the arrangement agreementdocumented · Since September 28, 2026 · current at the evidence cutoff
  • 1001755979 Ontario Inc. to Sangoma Technologies CorporationPurchaser of all Sangoma shares under a court-approved plan of arrangementdocumented · Agreement of September 28, 2026 (pending) · current at the evidence cutoff
  • Banc of California, N.A. to BRPI Acquisition Co LLCCommitment party, with Axos Bank and Israel Discount Bank of New York, for $212,255,000 of senior secured term loans to BRPI Acquisition Co LLC and the other telecom borrowers (New Telecom Facility) to fund the Sangoma acquisitiondocumented · Commitment of September 2026 · current at the evidence cutoff
  • Axos Bank to BRPI Acquisition Co LLCCommitment party, with Banc of California and Israel Discount Bank of New York, for $212,255,000 of senior secured term loans to BRPI Acquisition Co LLC and the other telecom borrowers (New Telecom Facility)documented · Commitment of September 2026 · current at the evidence cutoff
  • Israel Discount Bank of New York to BRPI Acquisition Co LLCCommitment party, with Banc of California and Axos Bank, for $212,255,000 of senior secured term loans to BRPI Acquisition Co LLC and the other telecom borrowers (New Telecom Facility)documented · Commitment of September 2026 · current at the evidence cutoff
  • Mikel Williams to BRC Group Holdings, Inc.Director; resigned on the day BRC acquired Targus, where he remained chief executivedocumented · Reported as director from July 2019; resigned October 18, 2022 · historical
  • Mikel Williams to Targus Cayman Holdco LimitedChief Executive Officer (salary about $615,000 after the acquisition)documented · Before and after BRC's acquisition on October 18, 2022 · current or historical not established
  • B. Riley Principal Capital II, LLC to Monogram Orthopaedics Inc.Investor under a registration rights agreementdocumented · July 19, 2023 · current or historical not established
  • B. Riley Principal Capital II, LLC to GCT Semiconductor Holding, Inc.Investor under a registration rights agreementdocumented · April 23, 2024 · current or historical not established
  • B. Riley Principal Capital II, LLC to Stardust Power Inc.Investor under a registration rights agreementdocumented · October 7, 2024 · current or historical not established
  • B. Riley Principal Capital II, LLC to Actuate Therapeutics, Inc.Investor under a registration rights agreementdocumented · March 27, 2025 · current or historical not established
  • B. Riley Principal Capital II, LLC to Heidmar Maritime Holdings Corp.Investor under a registration rights agreementdocumented · June 6, 2025 · current or historical not established
  • B. Riley Principal Capital II, LLC to TOP Ships Inc.Investor under a registration rights agreementdocumented · April 24, 2026 · current or historical not established
  • B. Riley Principal Capital II, LLC to Sky Harbour Group CorporationParty to a securities purchase agreementdocumented · Filed November 2, 2023 · current or historical not established

chronology

  1. Bryant Riley and Tom Kelleher found the business that became BRC c-id-founding
  2. NASD censures B. Riley & Company and Bryant Riley and fines them $12,000 jointly c-reg-riley-1998
  3. B. Riley becomes publicly listed through its combination with Great American Group c-id-founding c-id-edgar-names
  4. B. Riley completes its merger with Wunderlich Securities c-lit-wunderlich-arbitration c-lead-wunderlich
  5. Bryant Riley and Andrew Laurence file director reports for Liberty Tax c-kahn-riley-frg-board c-kahn-laurence
  6. Kenneth Young, then BRC President, becomes B&W chief executive under a consulting agreement with a B. Riley affiliate c-rp-young-bw
  7. B&W enters into an investor rights agreement giving B. Riley a board nomination right and pre-emptive rights c-inv-bw-irs
  8. B. Riley FBR joins the "Vintage Group" in Franchise Group's registration rights agreement c-kahn-vintage-group
  9. Bryant Riley leaves the Franchise Group board c-lead-riley-boards
  10. FINRA arbitration award of about $10.5 million against Wunderlich Securities and Gary Wunderlich c-lit-wunderlich-arbitration
  11. Confidential settlement resolves the Dominick & Dickerman arbitration c-lit-wunderlich-arbitration
  12. BRC agrees to guarantee up to $110 million of B&W obligations to cash-collateral providers c-inv-bw-guaranty-2021
  13. B. Riley Receivables buys W.S. Badcock receivables for $400 million c-kahn-badcock-2021
  14. BRC indemnifies one of B&W's sureties under a €30 million bond c-inv-bw-surety
  15. B. Riley Receivables II signs a second Badcock receivables purchase agreement c-kahn-badcock-2022
  16. B. Riley acquires Targus c-inv-targus
  17. B. Riley submits a non-binding proposal for Franchise Group c-kahn-approach-2023
  18. Kahn and his counsel meet B. Riley and its counsel by videoconference c-kahn-april-2023
  19. Franchise Group signs the take-private merger agreement backed by B. Riley's equity commitment and guarantee c-kahn-ecl c-kahn-guarantee c-kahn-rollover
  20. Franchise Group take-private closes; B. Riley subsidiaries hold 31% of Freedom VCM c-kahn-merger-close c-kahn-closing-stake c-loss-vcm-note
  21. Prophecy co-founder John Hughes pleads guilty; B. Riley later learns Kahn was identified as an unindicted co-conspirator c-pro-learned-2023 c-sec-petrillo
  22. Badcock is sold to Conn's and a B. Riley subsidiary lends Conn's $108.0 million c-loss-conns
  23. BRC guarantees B&W's obligations under its Axos credit agreement, capped at $150 million c-inv-bw-axos-guaranty
  24. Kahn resigns as chief executive and director of Freedom VCM c-kahn-resign-2024
  25. Federal securities class action filed against B. Riley Financial and executives c-lit-sec-class-filing
  26. B. Riley Financial discloses the conclusions of its Audit Committee review and independent investigation c-sec-internal-review
  27. Senior-notes class action filed in Los Angeles Superior Court c-lit-notes-class
  28. Conn's and certain subsidiaries file for Chapter 11, accelerating B. Riley's term loan c-loss-conns
  29. SEC document subpoenas to B. Riley Financial and Bryant Riley c-sec-subpoenas-2024
  30. Former FRG shareholders sue in the Delaware Court of Chancery over the take-private c-lit-frg-class-delaware
  31. B. Riley suspends its common stock dividend c-debt-common-dividend
  32. Young resigns as BRC President and the consulting arrangement with B&W ends c-rp-young-bw
  33. SEC Division of Corporation Finance completes its review of the April 8, 2024 Form 8-K c-sec-corpfin-letter
  34. Brands Transaction and sale of bebe brand interests c-sale-brands-tca c-sale-bebe-brands
  35. Franchise Group and Freedom VCM file for Chapter 11 c-loss-impairment-2024 c-loss-freedom-ch11
  36. Sale of control of Great American Holdings to Oaktree vehicles closes c-sale-ga c-inv-ga-holdings-credit
  37. Second SEC document subpoenas to B. Riley Financial and Bryant Riley c-sec-subpoenas-2024
  38. Series A and Series B preferred dividends suspended c-debt-preferred-suspension
  39. Derivative complaint filed in Los Angeles Superior Court c-lit-deriv-la
  40. B. Riley sells its two Badcock receivables loans c-loss-badcock-loans-sold
  41. Bankruptcy Court disqualifies Willkie as FRG's bankruptcy counsel, according to the FRG Litigation Trust c-lit-willkie-disqualified c-lit-ust-subpoena
  42. Stockholder derivative complaint filed in the Delaware Court of Chancery c-lit-delderiv-dismissal
  43. Oaktree credit agreement replaces the Nomura facility c-debt-oaktree-agreement c-debt-2025-steps
  44. Atlantic Coast Recycling sold c-sale-acr
  45. Nogin assets assigned for the benefit of creditors c-sale-nogin
  46. Part of the W-2 wealth management business sold to Stifel c-sale-stifel
  47. First Nasdaq Staff Determination Letter over the late 2024 annual report c-debt-nasdaq
  48. Bankruptcy court confirms Franchise Group's Chapter 11 plan; equity cancelled c-loss-plan
  49. Bankruptcy court declines to dismiss Nogin Commerce's involuntary case c-lit-nogin-bankruptcy c-lit-nogin-allegations
  50. Sorrento liquidating trustee sues B. Riley Commercial Capital over about $32.2 million of payments c-lit-sorrento
  51. GlassRatner and B. Riley Farber sold for $117.8 million c-sale-glassratner
  52. Audit Committee dismisses Marcum and appoints BDO c-debt-marcum-dismissal
  53. B. Riley files its 2024 annual report c-debt-nasdaq
  54. SEC sues Prophecy, Spotts and Kahn; Spotts indicted c-pro-sec-complaint c-pro-spotts-indictment
  55. Investors in an FRG take-private vehicle file an arbitration demand against B. Riley Securities c-lit-aaa-spv
  56. B&W enters into a limited notice to proceed with Applied Digital for four natural-gas power plants c-be-contract
  57. United States moves to intervene in and stay the SEC case against Prophecy, Spotts and Kahn c-pro-stay
  58. Brian Kahn pleads guilty to conspiracy to commit securities fraud c-pro-charge-plea
  59. Court lets the federal securities class action proceed in part c-lit-sec-class-order
  60. B. Riley Financial, Inc. becomes BRC Group Holdings, Inc. c-id-name-change
  61. B. Riley writes off the Conn's term loan c-loss-conns-outcome
  62. BRC sues Willkie Farr & Gallagher and Brian and Lauren Kahn in New York c-lit-willkie-suit
  63. Nasdaq confirms BRC has regained compliance c-debt-nasdaq
  64. B. Riley collects $1.855 million from the last collateral for the Vintage loan c-loss-plan
  65. Bryant Riley, jointly with his spouse, and a family trust sell 1,155,382 B&W shares for $10.4 million c-be-spa c-be-form4
  66. Defendants answer the amended complaint in the federal securities class action c-lit-sec-class-order
  67. BRC's guarantee of B&W's Axos credit agreement is terminated c-inv-bw-axos-guaranty
  68. B&W signs a definitive $2.4 billion agreement with Base Electron c-be-contract
  69. A short seller publishes its report on B&W and Base Electron c-be-short-report
  70. Applied Digital assigns its right to buy 5,230,000 B&W shares to Base Electron c-be-warrant c-be-contract
  71. Delaware Court of Chancery dismisses the derivative suit c-lit-delderiv-dismissal
  72. Securities class action filed against B&W and two officers c-be-complaint
  73. Plaintiff appeals the Chancery dismissal to the Delaware Supreme Court c-lit-delderiv-dismissal
  74. Sixth unpaid preferred dividend period triggers a Preferred Dividend Default c-debt-preferred-default
  75. Annual meeting elects seven directors c-lead-agm-2026
  76. Docket records the SEC case against Prophecy, Spotts and Kahn as terminated c-pro-stay
  77. Federal court stays stockholder suit No. 2:26-cv-03419 c-lit-deriv-2026-stayed
  78. Applied Digital's guarantee of Base Electron's performance is terminated on payment of $37.0 million c-be-guarantee-ended
  79. SEC subpoenas current and former employees for testimony c-sec-testimony-2026
  80. BRC reports the estimated value of its SpaceX carried interest c-inv-spacex
  81. Court in the B&W class action denies a lead-plaintiff motion and lifts the stay of case deadlines c-be-complaint
  82. FRG Litigation Trust sues BRC, Bryant Riley and others in Delaware c-lit-trust-filing
  83. BRC agrees to acquire Sangoma Technologies c-inv-sangoma-agreement
  84. Redemption date of the 6.50% Senior Notes due 2026 c-debt-redeem-650

cite this dossier

DossierTwist, “BRC Group Holdings (formerly B. Riley Financial): Kahn, Franchise Group, subpoenas and asset sales”, dt.028, 25 October 2026, https://dossiertwist.com/dossiers/brc-group-holdings/

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