Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2460

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 2460
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ellar GP was the general partner of the SPAC Fund but did not consolidate it.  Effective April 1, 2023, the Vellar GP began consolidating the SPAC Fund. The Vellar GP primarily invests in share forward arrangements.  On February 25, 2025, the Operating LLC sold its 33.4% interest in the Vellar GP pursuant to the Vellar Purchase Agreement and will no longer consolidate Vellar GP.  See notes 4, 10, and 21 to our consolidated financials included in this Annual Report on Form 10-K.  Other SPAC related is mainly comprised of an entity that we consolidated but do not wholly own that invests in other SPAC sponsor entities.  

      51

Net Income / (Loss) Attributable to the Convertible Non-Controlling Interest 

﻿ 

Net income / (loss) attributable to the convertible non-controlling interest for the years ended December 31, 2024 and 2023 was comprised of the non-controlling interest related to member interests in the Operating LLC other than interests held by us for the relevant periods. 

      SUMMARY CALCULATION OF CONVERTIBLE NON-CONTROLLING INTEREST 

      For the Year Ended December 31, 2024 

      Wholly Owned Subsidiaries 

      Other Consolidated Subsidiaries 

      Total Operating LLC Consolidated 

      Cohen & Company Inc. 

      Consolidated 

      Net income / (loss) before tax 
      
     $
     (5,805
     )
      
     $
     13,665

     $
     7,860

     $
     7,860

      Income tax expense / (benefit) 

     (316
     )

     (316
     )

     (13
     )

     (329
     )

      Net income / (loss) after tax 

     (5,489
     )

     13,665

     8,176

     13

     8,189

      Other consolidated subsidiary non-controlling interest 

     8,675

     8,675

      Net income / (loss) attributable to the Operating LLC 

     (5,489
     )

     4,990

     (499
     )

      Average effective Operating LLC non-controlling interest % (1) 

     71.54
     %

      Operating LLC non-controlling interest 

     $