Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 192

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 192
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 | % |         21.0 | % |
| Business Combination expenses                  |   |        -66.1 | % |         27.8 | % |
| State taxes, net of federal tax benefit        |   |        106.5 | % |          0.0 | % |
| Transaction costs                              |   |          0.0 | % |          0.0 | % |
| Change in fair value of Derivative Liabilities |   |        -45.3 | % |        -87.3 | % |
| Change in valuation allowance                  |   |          6.6 | % |         41.1 | % |
| Income tax provision                           |   |         22.9 | % |          2.6 | % |

The Company files income tax returns in the U.S. federal jurisdiction and is subject to examination by the various taxing authorities since inception.

Note 10 — Recurring Fair Value Measurements

The fair value of the Company’s certain assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the balance sheet. The fair values of cash and cash equivalents, prepaid expenses, accounts payable and accrued expenses, due to related parties are estimated to approximate the carrying values as of December 31, 2023 and 2022 due to the short maturities of such instruments.

Since all of the Company’s permitted assets in the Trust Account consist of demand deposits at December 31, 2023 and U.S. Money Market funds at December 31, 2022, fair values of these assets are determined utilizing quoted prices (unadjusted) in active markets for identical assets. The Company’s warrant liability for the Private Warrants and Convertible Promissory Notes is based on valuation models utilizing management judgment and pricing inputs from observable and unobservable markets with less volume and transaction frequency than active markets. Significant deviations from these estimates and inputs could result in a material change in fair values. The Company’s warrant liability for the Public Warrants is based on quoted prices in an active market for identical assets.

The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2023 and 2022:

| ​                                     
 December 31, 2023                     | ​ | ​       
 Level 1 |         ​ | ​ | ​       
 Level