Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 49

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 49
---
 |
|:------------------------------------------------------------------------------------------------------------|:--|:-------------|:--|:-------------|------:|:--|:------------|:--|:-----|:--|:----------|--------:|
| Basic and diluted net income (loss) per share                                                               |   | —            | ​ | $            | -0.64 |   | —           |   | ​    | ​ | ​         |       — |
| ​                                                                                                           | ​ | ​            | ​ | ​            |     ​ | ​ | ​           | ​ | ​    | ​ | ​         |       ​ |
| Basic and diluted weighted average shares outstanding Class A and B common stock, not subject to redemption |   | —            | ​ |              | 2,979 |   | —           |   | ​    | ​ | ​         |  16,129 |
| ​                                                                                                           | ​ | ​            | ​ | ​            |     ​ | ​ | ​           | ​ | ​    | ​ | ​         |       ​ |
| Basic and diluted net income (loss) per share                                                               |   | —            | ​ | $            | -0.26 |   | —           | ​ | ​    | ​ | $         |   -0.19 |

27

NOTES TO UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION 1. Basis of Presentation The Business Combination was accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, KWAC was treated as the “acquired” company for financial reporting purposes. Accordingly, the Business Combination was treated as the equivalent of Wentworth issuing stock for the net assets of KWAC, accompanied by a recapitalization. The net assets of KWAC are stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination will be those of Wentworth. The unaudited pro forma condensed combined balance sheet as of December 31, 2023 assumes that the Business Combination occurred on December 31, 2023. The unaudited pro forma condensed combined statements of operations for the year ended December 31, 2023 gives pro forma effect to the Business Combination as if it had been completed on January 1, 2023. The period presented is on the basis of Wentworth as the accounting acquirer. The unaudited pro forma condensed combined balance sheet as of December 31, 2023 has