Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1667

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 1667
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 all of the Operating LLC units of membership interests held by each were exchanged for Common Stock on a ten for one basis and effectively gives Daniel G. Cohen and the DGC Trust voting rights at the Company in the same proportion as their economic interest (as units of membership interests of the Operating LLC do not carry voting rights at the Company level).  The Series F Preferred Stock effectively enable Daniel G. Cohen and the DGC Trust to exercise approximately 46.9% of the voting power of the Company’s total shares outstanding that were entitled to vote as of  December 31, 2024 (in addition to the voting power held through his common share ownership and Series E Preferred Stock ownership).  As of  December 31, 2024, there were 22,429,541 shares of Series F Preferred Stock issued and outstanding.  
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        F-
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   Together, the Series E and Series F Preferred Stock enables Daniel G. Cohen and the DGC Trust to exercise approximately 57.3% of the voting power of the Company’s total shares outstanding that were entitled to vote as of  December 31, 2024, in addition to the voting power held through Mr. Cohen’s common share ownership.
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   Stockholder Rights Plan  
    
   On  January 2, 2024, the Company entered into a Section 382 Rights Agreement (the “Rights Agreement”) between the Company and Computershare Inc., as rights agent (the “Rights Agent”).
    
   The Rights Agreement provides for a distribution of one preferred stock purchase right (each, a “Right,” and collectively, the “Rights”) for each share of the Company’s Common Stock outstanding to stockholders of record at the close of business on  January 16, 2024 (the “Record Date”). Each Right entitles the registered holder thereof to purchase from the Company a unit (a “Unit”) consisting of one ten-thousandth of a share of the Company’s Series C Junior Participating Preferred Stock, par value $0.001 per share (the “Series C Preferred Stock”), at a purchase price of $100.00 per Unit (the “Purchase Price”), subject to adjustment. The description and terms of the Rights are set forth in the Rights Agreement.
    
   The Company’s board of directors adopted the Rights Agreement in an effort to protect stockholder