Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 230

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 230
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ization |     ​ 
     ​ | ​ 
 ​ | ​            
 Net Carrying 
 Amount       |     ​ 
     ​ |
|:--------------------------------|:--|:------------|:--|:---------|------:|:--|:-------------|------:|:--|:-------------|------:|
| Policies and procedures library | ​ | 5 years     | ​ | $        | 2,200 | ​ | $            | 2,200 | ​ | $            |     — |
| Developed technology            |   | 7 years     |   | ​        | 1,600 |   | ​            | 1,162 |   | ​            |   438 |
| Trade name                      |   | 10 years    |   | ​        | 3,500 |   | ​            | 1,779 |   | ​            | 1,721 |
| Total                           |   |             | ​ | $        | 7,300 | ​ | $            | 5,141 | ​ | $            | 2,159 |

Amortization expense related to intangible assets amounted to approximately $0.6 million and $1.0 million for the years ended December 31, 2023 and 2022, respectively. As of December 31, 2023, the estimated future amortization expense for intangible assets over the next four years is as follows (in thousands):

| ​    | ​ | ​ |     ​ |
|:-----|:--|:--|------:|
| 2024 |   | $ |   560 |
| 2025 |   | ​ |   350 |
| 2026 |   | ​ |   350 |
| 2027 |   | ​ |   320 |
| ​    | ​ | $ | 1,580 |

| 9. | DEBT |

On April 2, 2020, the Company entered into a Credit Agreement (the “Credit Agreement”) with Oak Street Funding LLC (“Oak Street”) in the amount of $25 million. This note payable bears interest at the prime rate (“Prime”) (8.50% as of December 31, 2023) plus 2.25% and has a 10-year term and a 3-month interest only repayment provision. As of December 31, 2023 and 2022, the outstanding balance of the Oak Street note, net of unam