I fear there is no automatic one-step solution.
You rather will have to cut and paste each region (text and/or math) one by one to a position outside of the large region, and rearrange them to duplicate the look is has now.
If your mark more than one region, you will end up with a larger region which includes just the marked regions which is not what you want.
I always felt it would be bad habit to pack larger calculations in one big text region - its far harder to edit or arrange differently that way.
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