Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 225

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 225
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’ prior notice to Byline Bank. The Company  may draw on the facility until  June 18, 2026. Loans (both principal and interest) made by Byline Bank under the amended and restated agreement are scheduled to mature and become immediately due and payable in full on  June 18, 2026.
    
   The Company is subject to the following financial covenants in the Byline Credit Facility. As of  September 30, 2025 and  December 31, 2024, the Company was in compliance with all of the following financial covenants.
    
   1. Cohen Securities' tangible net worth as defined must exceed $70,000;
   2. Cohen Securities' excess net capital as defined in Rule 15c3-1 of the Exchange Act must exceed $30,000; and
   3. The total amount drawn on the facility must not exceed 25% of Cohen Securities' tangible net worth as defined.  
    
   As of  September 30, 2025 and  December 31, 2024, no amounts were outstanding under the Byline Credit Facility, and the Company was in compliance with all financial covenants thereunder.
     ﻿
   Interest Expense, net 
    
   INTEREST EXPENSE
   (Dollars in Thousands)

       Three Months Ended September 30,    Nine Months Ended September 30,  
   2025    2024    2025    2024  
 Junior subordinated notes  $1,217  $1,199  $3,547  $3,532 
 2020/2024 Notes   214   187   788   449 
 Byline Credit Facility   41   19   81   57 
 Redeemable financial instrument - JKD Investor   -   (149)  -   309 
  $1,472  $1,256  $4,416  $4,347 

       ﻿

       39

   16. EQUITY 
    
   Stockholders’ Equity
    
   Common Equity: The following table reflects the activity for the nine months ended  September 30, 2025 related to the number of shares of unrestricted Common Stock that the Company had issued