Company: COHN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-035625
Chunk: 88

Company: Cohen & Co Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 88
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 25, 2017, and an additional $1,268 was invested into Cohen & Company, LLC on January 9, 2019. Additional information regarding JKD Investor’ investment in Cohen & Company, LLC pursuant to the JKD Investment Agreement is included in notes 4, 19 and 20 to the Company’s audited financial statements for the year ended December 31, 2024 in the 2024 Form 10-K. Effective September 1, 2024, JKD Investor and the Cohen & Company LLC entered into a Redemption Agreement, which terminated the JKD Investment Agreement in its entirety. As of September 1, 2024, the investment balance under the JKD Investment Agreement was $7,719. Pursuant to the Redemption Agreement, Cohen & Company LLC (i) paid $2,573 of the investment balance in cash, and (ii) issued a senior promissory note (the “2024 JKD Note”) in the aggregate principal amount of $5,146, representing the remaining balance then-payable under the JKD Investment Agreement. The 2024 JKD Note bears interest at 12% and its principal is to be repaid as follows: (i) $2,573 of the principal amount will be due and payable on August 31, 2025, and (ii) $2,573 will be due and payable on August 31, 2026. The 2024 JKD Note may not be prepaid in whole or in part prior to January 31, 2025. The 2024 JKD Note may, with at least 31 days’ prior written notice to the holder of the 2024 Note, be prepaid in whole or in part at any time following January 31, 2025, without penalty or premium. In connection with the JKD Investment Agreement, as amended, the Company incurred interest expense related to investment returns to JKD Investor equal to $310 in 2024 and $491 in 2023. In connection with the 2024 JKD Note, the Company incurred interest expense equal to $206 in 2024. On January 31, 2020, Cohen & Company, LLC, entered into a Note Purchase Agreement (the “JKD Purchase Agreement”), by and among Cohen & Company, LLC, JKD Investor and RN Capital Solutions LLC (“RNCS”). Pursuant to the JKD Purchase Agreement, among other things, (i) JKD Investor purchased from Cohen