Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2300

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 4
Chunk 2300
---
 (324)  191   (272)
 Net increase (decrease) in cash and cash equivalents   8,940   (18,451)  (21,466)
 Cash and cash equivalents, beginning of period   10,650   29,101   50,567 
 Cash and cash equivalents, end of period  $19,590  $10,650  $29,101 

See accompanying notes to consolidated financial statements.

      F-6

COHEN & COMPANY INC. 

Notes to Consolidated Financial Statements 

December 31, 2024

(Dollars in thousands, except share and per share information) 

   1. ORGANIZATION AND NATURE OF OPERATIONS 
   ﻿ 
   Organizational History 
   ﻿ 
   Cohen Brothers, LLC (“Cohen Brothers”) was formed on  October 7, 2004 by Cohen Bros. Financial, LLC (“CBF”). Cohen Brothers was established to acquire the net assets of CBF’s subsidiaries (the “Formation Transaction”): Cohen Bros. & Company, Inc.; Cohen Frères SAS; Dekania Investors, LLC; Emporia Capital Management, LLC; and the majority interest in Cohen Bros. & Toroian Investment Management, Inc. The Formation Transaction was accomplished through a series of transactions occurring between  March 4, 2005 and  May 31, 2005.
   ﻿ 
   From its formation until  December 16, 2009, Cohen Brothers operated as a privately-owned limited liability company. On  December 16, 2009, Cohen Brothers completed its merger (the “AFN Merger”) with a subsidiary of Alesco Financial Inc. (“AFN”), a publicly traded real estate investment trust ("REIT").
   ﻿ 
   As a result of the AFN Merger, AFN contributed substantially all of its assets into Cohen Brothers in exchange for newly issued units of membership interests directly from Cohen Brothers. In addition, AFN received additional Cohen Brothers membership interests directly from its members in exchange for AFN common stock. In accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), the AFN Merger was accounted for as a reverse acquisition, and Cohen Brothers was deemed to be the accounting acquirer. As a result, all of AFN’s assets and liabilities were required to be revalued at fair value as of the acquisition date. The remaining units of