Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 283

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 283
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 and amortization increased by $47, or 38%, to $172 for the three months ended June 30, 2025, as compared to $125 for the three months ended June 30, 2024. 

       79

Non-Operating Income and Expense 

Interest Expense, net 

Interest expense, net increased by $71 to $1,496 for the three months ended June 30, 2025, as compared to $1,425 for the three months ended June 30, 2024.  

INTEREST EXPENSE

      Three Months Ended June 30, 

      2025 

      2024 

      Change 

      Junior subordinated notes 
      
     $
     1,186

     $
     1,172

     $
     14

      2020/2024 Notes 

     288

     135

     153

      Byline Credit Facility 

     22

     19

     3

      Redeemable Financial Instrument - JKD Investor 

     -

     99

     (99
     )

     $
     1,496

     $
     1,425

     $
     71

See notes 15 to our consolidated financial statements included in Item 1 of this Quarterly Report on Form 10-Q.  

Gain on Sale of Management Contracts

On March 13, 2025, we entered into an MTA with Hildene to sell our CDO collateral management contracts for (i) Alesco Preferred Funding III, Ltd., (ii) Alesco Preferred Funding IV, Ltd., (iii) Alesco Preferred Funding V, Ltd., (iv) Alesco Preferred Funding VI, Ltd., and (v) Alesco Preferred Funding VIII, Ltd. for a total of $3,500.  Each CDO collateral management contract sale was contingent upon certain conditions to closing.  The most significant condition outside of our and Hildene's control was consent of the preferred security holders of each CDO.  The MTA called for the purchase price to be reduced, dollar for dollar, for any management fees received by us after March 1, 2025. 

During the six months ended June 30, 2025, we recorded the sale of the CDO Agreements of Alesco Preferred Funding V, Ltd. and Ales