Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 8

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 1
Chunk 8
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 units of membership interests directly from Cohen Brothers. In addition, AFN received additional Cohen Brothers membership interests directly from its members in exchange for AFN common stock. In accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), the AFN Merger was accounted for as a reverse acquisition, and Cohen Brothers was deemed to be the accounting acquirer. As a result, all of AFN’s assets and liabilities were required to be revalued at fair value as of the acquisition date. The remaining units of membership interests of Cohen Brothers that were not held by AFN were included as a component of non-controlling interest in the consolidated balance sheets.
    
   Subsequent to the AFN Merger, AFN was renamed Cohen & Company Inc. In  January 2011, it was renamed again as Institutional Financial Markets, Inc. (“IFMI”) and on  September 1, 2017 it was renamed again as Cohen & Company Inc.  Effective  January 1, 2010, the Company ceased to qualify as a REIT.
    
   The Company 
    
   The Company is a financial services company specializing in an expanding range of capital markets and asset management services. As of  June 30, 2025, the Company had $2.2 billion in assets under management (“AUM”) of which $0.9 billion was in collateralized debt obligations (“CDOs”). The remaining portion of AUM was from a diversified mix of Investment Vehicles (as defined herein).
    
   In these financial statements, the “Company” refers to Cohen & Company Inc. and its subsidiaries on a consolidated basis. Cohen & Company, LLC or the “Operating LLC” refers to the main operating subsidiary of the Company.  “Cohen Brothers” refers to the pre-AFN Merger Cohen Brothers, LLC and its subsidiaries. “AFN” refers to the pre-merger Alesco Financial Inc. and its subsidiaries. When the term “Cohen & Company Inc.” is used, it is referring to the parent company itself. “Cohen Securities” refers to Cohen & Company Securities, LLC,  a wholly owned broker-dealer subsidiary of Cohen & Company Securities Holdings, L.P (“Cohen Securities Holdings”). Cohen Securities Holdings is a wholly owned subsidiary of the Operating LLC. Prior to  July 1, 2025, Cohen & Company Securities, LLC was known as J.V.B