Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 820

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 14
Chunk 820
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ended and Restated Note could not be prepaid in whole or in part prior to  January 31, 2023. The Amended and Restated Note  may, with at least 31 days’ prior written notice from the Operating LLC to the holder thereof, be prepaid in whole or in part at any time following  January 31, 2023 without the prior written consent of the holder and without penalty or premium.
    
   The Amended and Restated Note and the payment of all principal, interest, and any other amounts payable thereunder are senior obligations of the Operating LLC and will be senior to any Indebtedness (as defined in the Amended and Restated Note) of the Operating LLC outstanding as of and issued following  January 30, 2020 (the original issuance date of the JKD Note). Pursuant to the Amended and Restated Note, following  January 31, 2022, the Operating Company  may not incur indebtedness that is a senior obligation to the Amended and Restated Note.
    
   On  January 5, 2024, the Operating LLC and JKD Investor entered into an amendment to the Amended and Restated Note, pursuant to which the Amended and Restated Note was amended to (a) extend (i) the maturity date thereof from  January 31, 2024 to  January 31, 2026, (ii) the date following which the Amended and Restated Note  may be redeemed by JKD Investor from  January 31, 2023 to  January 31, 2025, and (iii) the date following which the Amended and Restated Note  may be prepaid by the Operating LLC from  January 31, 2023 to  January 31, 2025; and (b) increase the interest rate payable under the Amended and Restated Note from 10% per annum to 12% per annum effective as of  January 31, 2024.  See note 4.

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   The 2017 Convertible Note 
    
   The 2017 Convertible Note had a par value of $15,000 and bore interest at 8% per annum and was held by the DGC Trust, a trust established by Daniel G. Cohen. Daniel G. Cohen is the executive chairman of the Company’s board of directors and executive chairman of the board of managers of the Operating LLC.