Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 219

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 219
---
 and covenants by the Company and customary obligations of the parties and termination provisions. The Company has agreed to indemnify the Sales Agent against certain liabilities, including liabilities under the Securities Act, or to contribute to payments the Sales Agent  may be required to make with respect to any of those liabilities. The Company will pay the Sales Agent a commission of 2.5% of the gross offering proceeds of the Shares sold through the Sales Agent pursuant to the Equity Agreement.
    
   The offering of the Common Stock pursuant to the Equity Agreement will terminate upon the sale of all of the Shares pursuant to the Equity Agreement, unless sooner terminated in accordance with the terms and conditions of the Equity Agreement.
    
   No shares were sold under the Equity Distribution Agreement during 2025. During the three and six months ended  June 30, 2024, the Company sold 13,500 and 13,500 shares of Common Stock, respectively, in the open market pursuant to the Equity Agreement for a total net sale price of $154 and $154, respectively.
    
   Detail of Non-Controlling Interest 
    
   The Company has two major categories of non-controlling interest.  Convertible non-controlling interest represents the portion of the Operating LLC not owned by the Company.  The convertible non-controlling interest is exchangeable in certain circumstances into Common Stock.  Non-convertible non-controlling interest represents the portion of various subsidiaries of the Operating LLC that are not owned by the Operating LLC.  The non-convertible non-controlling interest is not exchangeable into Common Stock. 
    
   ROLLFORWARD OF NON-CONTROLLING INTERESTS
   (Dollars in Thousands)

       Operating LLC    Other Consolidated Subsidiaries    Total  
 December 31, 2024  $37,093  $11,462  $48,555 
 Non-controlling interest share of income (loss)   4,143   (314)  3,829 
 Other comprehensive (loss)   250   -   250 
 Acquisition / (surrender) of additional units of consolidated subsidiary   (499)  -   (499)
 Equity-based compensation   1,552   -   1,552 
 Shares withheld for employee taxes   (241)  -   (241)
 Distributions to convertible non-controlling interest of Cohen & Company