Transaction highlights
platform's ability to deliver agile, structured capital solutions for the
middle market
LOS
ANGELES, June 03, 2026 - BRC Specialty Finance, the direct lending platform
of BRC Group Holdings, Inc. (NASDAQ: RILY) ("BRCGH") and B. Riley
Securities, Inc. ("BRS"), a leading full-service investment bank, today
announced that BRS has assumed a $20 million advance under a $100 million
senior secured delayed draw term loan facility originated by Bit Digital, Inc.
(NASDAQ: BTBT) to Enovum NC-1 Venture LLC, an indirect wholly-owned subsidiary
of WhiteFiber, Inc. (NASDAQ: WYFI).
Through
an Assignment and Assumption Agreement, BRS became a lender of record on the
same economic terms as the lead lender, capitalizing on an attractive
risk-adjusted yield in the growing digital infrastructure sector. This
90-day assigned advance is expected to bridge the borrower to its anticipated
permanent institutional financing. The borrower intends to use the facility for
general corporate purposes, which may include
Bryant
Riley, Chairman and Co-Chief Executive Officer of BRCGH and Executive Chairman
of BRS, said: "This transaction solves a
dual-sided credit need: unlocking critical liquidity for underserved,
high-catalyst operators scaling next-generation data center infrastructure,
while capturing high-quality, asset-backed yields for our platform. This
financing addresses a specific market gap we are uniquely suited to fill.
Traditional lenders are often not structured for shorter-term facilities of
this nature and lack the longer-term investment in corporate relationships that
serves as our guiding principle."
Andy
Moore, Chief Executive Officer of BRS, said: "Our
deep, multi-year relationship with the Bit Digital and WhiteFiber management
teams allowed B. Riley Securities to execute this transaction with speed and
precision. This transaction is a testament to our platform's ability to bring
flexible capital, speed, and trusted relationships to bear for clients at their
most critical inflection points."
In a
separate transaction, BRCGH has also finalized a $10 million receivables-backed
purchase agreement with a publicly traded technology company, providing
short-term liquidity to a repeat client and valued long-term partner -
demonstrating the platform's early momentum.
These
transactions underscore BRC Specialty Finance's commitment to deploying
structured capital solutions to small-cap
and middle market companies - a segment frequently underserved by traditional
lenders. The platform continues to focus on
high-quality credit opportunities that combine strong downside protection and
compelling yields.
About
BRC Specialty Finance
BRC Specialty Finance is the direct lending platform of BRC Group Holdings and B. Riley Securities, specializing in providing bespoke, flexible credit solutions—including structured equity loans, bridge facilities, delayed draw term loans, and structured debt—to small and middle-market companies. Differentiated by its public company focus, capital markets fluency, and solutions-oriented approach, BRC Specialty Finance structures financing around each borrower's capital structure, liquidity profile, and strategic objectives. The platform's ability to pair credit underwriting with real-time capital markets insights provides borrowers with greater flexibility.
About
B. Riley Securities, Inc.
B. Riley Securities, Inc. provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Services include initial and follow-on offerings, debt and equity-linked solutions, institutional private placements, merger and acquisition (M&A) advisory, corporate restructuring, and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities through its end-to-end platform. For more information, visit www.brileysecurities.com and follow us on LinkedIn.
About
BRC Group Holdings, Inc.
BRC Group Holdings, Inc. (Nasdaq: RILY) is a diversified holding company, including financial services, communications, and retail, and investments in equity, debt and venture capital. Our core financial services platform provides small cap and middle market companies customized end-to-end solutions at every stage of the enterprise life cycle. Our banking business offers comprehensive services in capital markets, sales, trading, research, merchant banking, M&A, and restructuring. Our wealth management business offers wealth management and financial planning services including brokerage, investment management, insurance, and tax preparation. Our communications businesses provide consumer and business services including traditional, mobile and cloud phone, internet and data, security, and email. Our retail businesses provide mobile computing accessories and home furnishings. BRCGH deploys its capital inside and outside its core financial services platform to generate shareholder value through opportunistic investments. For more information, please visit www.brcgh.com.
Forward-Looking
Statements
Statements
made in this press release that are not descriptions of historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and are based on management's current
expectations and assumptions and are subject to risks and uncertainties.
Forward-looking statements include, without limitation, statements regarding
the growth and capital deployment of BRC Specialty Finance, the borrower's
anticipated permanent institutional financing, the platform's ability to source
and execute future credit opportunities, and expected financial and operational
results. If the risks or uncertainties referenced herein materialize, or if
underlying assumptions prove incorrect, BRCGH's business, operating results, financial
condition, and stock price could be materially and adversely affected. Actual
results may differ materially from those anticipated due to factors including,
but not limited to, changes in market conditions, borrower performance, the
availability of attractive credit opportunities, regulatory developments,
general economic conditions, and the other risks described in BRCGH's periodic
filings with the SEC, including under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" in BRC Group Holdings, Inc.'s 2025 Annual Report on Form 10-K and
2026 Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. BRCGH
undertakes no obligation to update any forward-looking statement, except as
required by law.
# # #
Contacts
Mike
Frank
Investor
Relations
mfrank@brcgh.com
(212)
409-2424
Media
press@brcgh.com