Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1380

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 1380
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 2023, the Vellar GP became the sole owner of the SPAC Fund and began consolidating it. The Company owns an interest in and consolidates the Vellar GP, and effective  April 1, 2023, the Company began consolidating the SPAC Fund as well. The Company recorded the following entry upon consolidation:

       Asset/(Liability)  
 Cash and cash equivalents  $257 
 Receivables from brokers, dealers, and clearing agencies   68,066 
 Other investments, at fair value   40,388 
 Other assets   108 
 Accounts payable and other liabilities   (82,968)
 Other investments sold, not yet purchased   (25,806)
 Vellar GP's remaining investment in the SPAC Fund  $45 

   As of  December 31, 2023, all amounts due to the redeeming investors in the SPAC Fund were paid in full.  See note 31 for discussion of sale of the Company's interest in Vellar GP subsequent to year end. 

        F-
       20

   The 2020 Senior Notes 
    
   On  January 31, 2020, the Operating LLC entered into a note purchase agreement (the “Original Purchase Agreement”) with JKD Investor and RN Capital Solutions LLC, a Delaware limited liability company (“RNCS”). The note purchased by the JKD Investor is herein referred to as the “JKD Note.”  
    
   ﻿Pursuant to the Original Purchase Agreement, JKD Investor and RNCS each purchased a senior promissory note in the principal amount of $2,250 (for an aggregate investment of $4,500).  The senior promissory notes bore interest at a fixed rate of 12% per annum and matured on  January 31, 2022. On  January 31, 2022, the Operating LLC and JKD Investor entered into a note purchase agreement (the "2022 Purchase Agreement"), pursuant to which, among other things, on such date, (i) JKD Investor paid to the Operating LLC an additional $2,250 and (ii) in consideration for such funds, the Operating LLC issued to JKD Investor an amended and restated senior promissory note in the aggregate principal amount of $4,500 (the “Amended and Restated Note”), which Amended and Restated Note