Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 19

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 19
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, capital markets, and SPAC advisory services.  In addition, we generate new issue revenue by originating new assets for the U.S. Insurance JV, CREO JV, and our PriDe Funds in Europe.

In some cases, CCM will receive financial instruments in lieu of cash for its advisory transactions.  In these cases, we record advisory revenue equal to the fair value of the instruments received.  Subsequent to receipt, the instruments are carried at fair value as a component of other investments, at fair value in our consolidated balance sheets. Any change in the fair value of these instruments subsequent to recording the new issue revenue will be recorded as principal transactions gain or loss in our consolidated statement of operations.  Further, the financial instruments we receive in these cases are often either (i) common stock investments that are restricted for resale for some period of time; (ii) convertible or non-convertible notes receivable that are not publicly traded; (iii) equity investments in special purpose entities that are not publicly traded; or (iv) unrestricted common stock investments in public companies with low trading volumes.  As a result, it may take us a significant period of time to liquidate these financial instruments. We may suffer significant principal transactions loss prior to final liquidation of these financial instruments.  See Principal Transactions and Other Income below.   

      45

Principal Transactions and Other Income 

Principal transactions and other income decreased by $45,696 to ($29,242) for the year ended December 31, 2024, as compared to $16,454 for the year ended December 31, 2023.

      PRINCIPAL TRANSACTIONS & OTHER INCOME 

      (Dollars in Thousands) 

      Year Ended December 31, 

      2024 

      2023 

      Change 

      Interests in public companies: 

      Abpro Corporation (NASDQ: ABP) 
      
     $
     (640
     )
      
     $
     -

     $
     (640
     )

      Next.e.GO N.V. (OTC: EGOXF) 

     (7,440
     )

     (665
     )

     (6,775
     )

      Baird Medical Investment Holdings Limited (NASDQ: BDMD) 

     (1,727
     )

     -

     (1,727
     )

      Brand Engagement Network, Inc