Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 193

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 193
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 | ​ | $       |   327,978 |
| Public Warrants                                      | ​ | $       |   345,000 | ​ | $       | — | ​ | $       |         — |

F-24

Warrants and Convertible Promissory Note

The Warrants and Convertible Promissory Notes are accounted for as liabilities in accordance with ASC 815-40 on the balance sheets. The warrant liabilities and Convertible Promissory Notes are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities and convertible promissory notes in the statement of operations.

Measurement

On December 31, 2023 and 2022, the Company’s Public Warrants were trading in an active market and valuation of the Company’s Public Warrant liability was determined based upon the closing market price at December 31, 2023 and 2022, respectively.

On December 31, 2023 and 2022, the Company used a modified Black-Scholes model to value the Private Warrants.

The key inputs into the modified Black Scholes option pricing model for the Private Placement Warrants were as follows:

| ​                                                
 Input                                            | ​ 
 ​ 
 ​ | ​    
 2023 |            ​ 
 December 31, | ​ 
 ​ | ​    
 2022 |            ​ 
 December 31, | ​ |
|:-------------------------------------------------|:--|:-----|-------------:|:--|:-----|-------------:|:--|
| Stock price                                      | ​ | $    |        12.40 | ​ | $    |        10.02 | ​ |
| Exercise price                                   | ​ | $    |        11.50 | ​ | $    |        11.50 | ​ |
| Term (years)                                     | ​ |      |         5.00 | ​ |      |         5.00 | ​ |
| Risk free rate                                   | ​ |      |         3.84 | % |      |         3.99 | % |
| Dividend yield                                   | ​ |      |            — | % |      |            — | % |
| Volatility                                       | ​ |      |         11.2 | % |      |          1.8 | % |
| Probability of a successful business combination | ​ |      |           95 | % |      |         92.5 | % |

On