BRC Group Holdings, Inc. (NASDAQ: RILY) disclosed the value of its indirect economic interest in Space Exploration Technologies Corp. following SpaceX's initial public offering on June 12, 2026.

The company holds carried interest in special purpose vehicles that invested in SpaceX between 2018 and 2021. Client investments through these vehicles totaled approximately $233 million during this period.

Based on SpaceX's closing price of $160.95 per share on June 12, 2026, BRC's gross carried interest was valued at approximately $84.2 million. After deducting estimated expenses, period adjustments, and accrued payouts, the company expects net proceeds of approximately $70.4 million.

The value fluctuates with SpaceX's share price. Each $5.00 change in SpaceX's stock price would result in an estimated $2.3 million change in net carried interest, according to the company's calculations.

All amounts remain subject to IPO lock-up restrictions that expire in stages through the remainder of 2026. The company noted that the trading price of SpaceX stock may be volatile and could decline below the IPO price while shares remain restricted.

BRC emphasized that the figures are preliminary, unaudited management estimates presented for informational purposes. The actual value realized will depend on factors including SpaceX's trading price when shares are sold, the timing of sales and distributions by the special purpose vehicles, transaction costs, taxes, and final expense determinations.

The company previously discussed this interest in its Form 10-Q filing for the quarter ended March 31, 2026, filed on May 7, 2026, and during its quarterly earnings call the same date.