Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 187

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 187
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 costs in consideration for4,312,500shares of Class B common stock, par value $0.0001per share (the “Founder Shares”). On October 22, 2020 and November 3, 2020, the Sponsor surrendered an aggregate of1,437,500Founder Shares, which were cancelled, resulting in an aggregate of2,875,000Founder Shares outstanding and held by the Sponsor. Up to375,000Founder Shares were subject to forfeiture to the extent that the over-allotment option was not exercised in full by the underwriters. In connection with the underwriters’ full exercise of their over-allotment option on November 24, 2020, the375,000Founder Shares were no longer subject to forfeiture.

#### F-20
The initial stockholders have agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (i) one yearafter the completion of the initial business combination; or (ii) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial business combination that results in all of the Company’s stockholders having the right to exchange their Class A common stock for cash, securities or other property; except to certain permitted transferees and under certain circumstances (the “lock-up”). Notwithstanding the foregoing, if (1) the closing price of Class A common stock equals or exceeds $ 12.00per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20trading days within any 30-trading day period commencing at least 150 daysafter the initial business combination or (2) if the Company consummates a transaction after the initial business combination which results in the Company’s stockholders having the right to exchange their shares for cash, securities or other property, the Founder Shares will be released from the lock-up. In October 2020 and November 2020 (“Grant Dates”), the Sponsor transferred a total of 270,000Founder Shares to the Company’s directors. The shares vest, not upon a fixed date, but upon consummation of an initial business combination. The Company has determined the valuation of the Class B shares as of the Grant Dates. The valuation resulted in a fair value of $ 6.19per share as of the Grant Dates, or an aggregate of $ 1,671,300for the 270,000shares. The