Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1416

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 1416
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KD Investment Agreement was redeemed and terminated in its entirety. As of  September 1, 2024, the JKD Investment Balance under the JKD Investment Agreement was $7,719.
    
   Pursuant to the terms and conditions of the Redemption Agreement, the Operating LLC (i) paid to JKD Investor $2,573 of the outstanding amount in cash, and (ii) issued to JKD Investor the 2024 Note in the aggregate principal amount of $5,146 representing the remaining balance of the JKD Investment. See note 20.
    
   The Redemption Agreement contains customary representations and warranties on the part of each of the Operating LLC and JKD Investor.
    
   See note 4 for additional information regarding the Redemption Agreement and the 2024 Note.  

        F-
       46

   20. DEBT 

    DETAIL OF DEBT 
 (Dollars in Thousands) 

     Description   December 31, 2024    December 31, 2023    Interest Rate Terms   Interest (2)   Maturity 
 Non-convertible debt:                
 12.00% senior note (the "2024 Note")  $5,146  $-   Fixed   12.00%  August 2026 
 12.00% senior note (the "2020 Note")   4,500   4,500   Fixed   12.00%  January 2026 
                
 Junior subordinated notes (1):                
 Alesco Capital Trust I   28,125   28,125   Variable   8.85%  July 2037 
 Sunset Financial Statutory Trust I   20,000   20,000   Variable   9.02%  March 2035 
 Less unamortized discount   (22,867)  (22,909)       
   25,258   25,216        
 Byline Credit Facility   -   -   Variable   N/A  June 2025 
 Total  $34,904  $29,716        

     (1)  The junior subordinated notes listed represent debt the Company owes to the two trusts noted above. The total par amount owed by the Company to the trusts is $49,614.  However