Company: COHN
Filing Date: 2025-12-08
Form Type: 8-K
Source: 0001104659-25-119358
Chunk: 1

Company: Cohen & Co Inc.
Filing Date: 2025-12-08
Form: 8-K
Item: Item 8.01
Chunk 1
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 (i) the second anniversary of the Closing, (ii) if the closing price of ProCap Financial’s
common stock equals or exceeds $10.21 per share (subject to customary adjustments) for any 20 trading days within any consecutive 30-trading
day period, and (iii) if the dollar volume-weighted average price for Bitcoin (BTC) during any one hundred twenty (120)-hour period equals
or exceeds $140,000 during any five-day period.

Certain executives and key employees of the Operating LLC, who had
purchased membership interests in the Sponsor either directly or indirectly, received ProCap Financial Shares that were previously held
by the Sponsor. The number of the ProCap Shares received by the Operating LLC was approximately 2,150,000 ProCap Shares.

SIGNATURES