Company: COHN
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0001104659-25-062577
Chunk: 0

Company: Cohen & Co Inc.
Filing Date: 2025-06-25
Form: 8-K
Item: Item 8.01
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Item      Other Events.  

As previously disclosed, on May 19, 2025, Columbus Circle Capital
Corp. I (NASDAQ: CCCMU) (the “ SPAC”), a blank check company incorporated as a Cayman Islands exempted company and formed for
the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business
combination with one or more businesses, completed the sale of 25,000,000 units in its initial public offering (the “ IPO”),
which included 3,000,000 units issued pursuant to the underwriters’ partial exercise of their over-allotment option. Cohen &
Company, LLC (the “ Operating LLC”), the operating subsidiary of Cohen & Company Inc., a Maryland corporation (the “ Company”),
owns a portion of, and serves as the managing member and a member of, Columbus Circle 1 Sponsor Corp LLC, the sponsor of the SPAC (the
“ Sponsor”). Cohen & Company Capital Markets (“ CCM”), a division of J. V. B. Financial Group, LLC,
and an indirect subsidiary of the Operating LLC, acted as the lead underwriter in the IPO.

On June 23, 2025, the SPAC issued a press release announcing that the
SPAC entered into a definitive business combination agreement (the “ Business Combination Agreement”), dated as of June 23,
2025 (the “ Signing Date”), with ProCap BTC, LLC, a Delaware limited liability company (“ ProCap BTC”), and ProCap
Financial, Inc., a Delaware corporation (“ ProCap Financial”), Crius SPAC Merger Sub, Inc., a Delaware corporation (“ SPAC
Merger Sub”), Crius Merger Sub, LLC, a Delaware limited liability company (“ Company Merger Sub”), and Inflection Points
Inc, d/b/a Professional Capital Management, a Delaware corporation (“ Seller”).

Pursuant to the transactions contemplated by the Business Combination
Agreement (the “ Business Combination”), the SPAC and ProCap BTC will merge into SPAC Merger Sub and Company Merger Sub, respectively,
and become wholly-owned subsidiaries of ProCap Financial, and ProCap Financial will become a publicly traded company. Proceeds from the
proposed Business Combination, if any, after satisfaction of redemption payments to the SPAC’s public shareholders and transaction
expenses, are expected to be used by ProCap Financial to purchase bitcoin, in connection with ProCap Financial’s business plans
and strategies.

In connection with the