Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 69

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 69
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 had $19.1 million outstanding under our Senior Credit Facility with Oak Street Funding, LLC, net of debt issuance costs. The associated debt facilities are as follows: Oak Street Funding, LLC On April 2, 2020, the Company entered into a Credit Agreement (the “Credit Agreement”) with Oak Street Funding LLC (“Oak Street”) in the amount of $25 million. This note payable bears interest at the prime rate (“Prime”) (8.00% as of September 30, 2024) plus 2.25% and has a 10-year term and a 3-month interest only repayment provision. As of September 30, 2024 and December 31, 2023, the outstanding balance of the Oak Street note, net of unamortized debt issuance costs was $16.2 million and $17.6 million, respectively. On April 25, 2021, the Company entered into an additional promissory note with Oak Street in the amount of $4.1 million related to the acquisition of WEG (“WEG Note”). This note payable bears interest at Prime plus 2.25% and has a 10-year term. As of September 30, 2024 and December 31, 2023, the outstanding balance of this note, net of unamortized debt issuance costs was $3.0 million and $3.2 million, respectively. Under the Oak Street notes, the Company is subject to certain covenants as defined in the agreements. As of September 30, 2024 and December 31, 2023, the Company was in compliance with all financial related covenants. The minimum payments and maturities of the Oak Street notes as of September 30, 2024 were as follows (in thousands):

| ​          | ​ | ​ |      ​ |
|:-----------|:--|:--|-------:|
| 2024       |   | $ |    598 |
| 2025       | ​ |   |  2,596 |
| 2026       | ​ |   |  2,950 |
| 2027       | ​ |   |  3,344 |
| 2028       | ​ |   |  3,788 |
| Thereafter | ​ |   |  6,434 |
| Total      | ​ | $ | 19,710 |

Series A Redeemable Convertible Preferred Stock On March