Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 138

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 138
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 related borrowing capacity, will provide sufficient liquidity to meet the cash needs of our ongoing operations in the near term.

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Nine Months Ended September 30, 2025

As of September 30, 2025, our cash and cash equivalents were $ 54,688, representing an increase of $ 35,098 from December 31, 2024. The increase was attributable to cash provided by operating activities of $ 29,406, cash provided by investing activities of $ 12,829, cash used in financing activities of $ 7,716, and an increase in cash caused by the change in exchange rates of $ 579.

The cash provided by operating activities of $ 29,406 was comprised of (a) net cash inflows of $ 65,572 related to working capital fluctuations, (b) net cash outflows of $ 22,035 from trading activities comprised of our investments-trading, trading securities sold, not yet purchased, receivables under resale agreements, securities sold under agreements to repurchase, and receivables and payables from brokers, dealers, and clearing agencies, as well as the changes in unrealized gains and losses on the investments-trading and trading securities sold, not yet purchased, and (c) net cash outflows from other earnings items of $ 14,131 (which represents net income or loss adjusted for the following non-cash operating items: other income / (expense), non-cash revenue, realized and unrealized gains and losses and accretion of income on other investments, income/(loss) from equity method affiliates, equity based compensation, depreciation and amortization, deferred taxes, and amortization of discount on debt).

The cash provided by investing activities of $ 12,829 was comprised of (a) $44,240 of sales and returns of principal from other investments, at fair value, (b) $199 in sales and returns of principal of other investments sold, not yet purchased, (c) $1,578 of distributions received from equity method affiliates, partially offset by (d) $29,257 in cash used to purchase other investments, at fair value, (d) $433 in reduction in cash from the disposal of our interest in Vellar GP, (e) $2,675 invested in equity method affiliates, and (f) $