News & Events zu BRC Group Holdings Inc (RILY)RILYBRC Group Holdings Inc

Bryant Riley Reports Q3 Revenue of $33.0M

Reports Q3 revenue $33.0M vs. $277.8M last year. CEO Bryant Riley commented: "Through the first nine months of the year, our operating businesses demonstrated the resilience of our diversified platform, despite Q3 declines in the value of our investment portfolio. Over the past several months, we have taken key strategic actions to strengthen our core franchises and allocate capital toward our strongest near-term cash flow opportunities. Earlier this week, we completed the sale of our remaining interest in GA Group...Q3 was a challenging period for small- and mid-cap issuers, as rising rates and wider credit spreads weighed on transaction activity and equity capital markets issuance concentrated in the largest issuers...Even as smaller average deal sizes tempered underwriting fee revenue in the quarter, we saw rising demand for our restructuring and advisory services, added two senior bankers, and expanded institutional research coverage to more than 430 companies".

PureCycle Technologies Borrow Rate Rises to 23.76%

Latest data shows the largest indicative borrow rate increases among liquid option names include: PureCycle Technologies (PCT) 23.76% +4.11, ASP Isotopes Inc (ASPI) 8.65% +1.44, MSOX ETF (MSOX) 9.20% +1.38, GraniteShares 2x Short SpaceX Daily ETF (SNK) 97.30% +0.73, Direxion Daily MU Bull 2X Shares (MUU) 8.67% +0.50, B Riley Financial (RILY) 1.30% +0.40, Tidal Trust II (IRE) 21.68% +0.36, T-REX 2X Long SNDK Daily Target ETF (SNDU) 14.61% +0.32, Defiance Daily Target 2X Long RKLB ETF (RKLX) 16.82% +0.29, and Karyopharm (KPTI) 9.76% +0.27.

BRC Group Acquires Sangoma for Approximately $204 Million

BRC Group (RILY) and Sangoma Technologies (SANG) "announced a definitive agreement under which a wholly owned subsidiary of BRC will acquire all issued and outstanding common shares of Sangoma. The transaction values Sangoma at an enterprise value of approximately $204 million. The transaction will be completed by way of a plan of arrangement under the Business Corporations Act (Ontario). Under the terms of the agreement, Sangoma shareholders will receive $4.925 in cash and 0.04767 of a BRC share for each Sangoma share held. In the aggregate, Sangoma shareholders will receive approximately $170 million in cash and approximately $10 million in BRC shares. Upon completion, current Sangoma shareholders will hold approximately 4% of BRC's pro forma outstanding shares. In connection with the closing of the transaction, the shares of Sangoma will be delisted from the Toronto Stock Exchange and Nasdaq Stock Market, and BRC will become a reporting issuer under applicable Canadian securities laws. The transaction is expected to be partially funded through an amended and restated $215 million senior secured term loan facility at BRC's communications-platform level, together with an equity contribution from BRC. The facility will also be used to retire the existing debt of BRC's communications businesses. Banc of California is serving as sole lead arranger, bookrunner, and administrative agent on the facility, together with Axos Bank and Israel Discount Bank of New York as lenders. "