Transaction Expected to Create a Differentiated Capital Solution for the Small-Cap and Middle Market

LOS ANGELES, April 20, 2026 /PRNewswire/ -- BRC Group Holdings, Inc. (NASDAQ:RILY) ("BRCGH" or the "Company"), a diversified holding company, today announced a series of strategic actions designed to consolidate its financial services platform, and posture the company for renewed growth while reinforcing its position as a leading, end-to-end capital markets and advisory partner serving the small-cap and middle market.

The Company intends to repurchase the outstanding shares of B. Riley Securities ("BRS") and seeks to combine BRS with B. Riley Wealth ("BRW"), bringing together the Company's institutional and retail distribution under a single investment banking and wealth management platform. In connection with these actions, BRCGH also announced leadership changes at BRS.

Merger of BRS and BRW

The Company intends to effect a merger of BRS and BRW by year end, subject to regulatory approval, including approval by FINRA under Rule 1017. The combination is expected to streamline operations across both regulated entities, accelerate combined platform growth, and provide BRW clients with access to appropriate proprietary investment opportunities.  

Realigned Management Team

To steward this next chapter of integrated growth and shareholder creation, the Company has realigned its senior leadership team.  Effective immediately, Bryant Riley, has been appointed Executive Chairman of BRS, Andy Moore returns as Chief Executive Officer of BRS, and Joseph Nardini, Head of Investment Banking, has been promoted to President of BRS.  Bryant and Andy will join, and Joseph will continue to serve, as members of BRS's Executive Committee. Michael Mullen, Chief Executive Officer of BRW, will also join BRS's Executive Committee upon completion of all applicable FINRA registration and regulatory requirements.