Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 161

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 161
---
 ​ |            $ |    138,437 | ​ |    $ |            — |
| Accretion of Class A common stock subject to possible redemption                     | ​ |            $ |    241,296 | ​ |    $ |      387,186 |
| Excise tax payable                                                                   | ​ |            $ |      2,884 | ​ |    $ |            — |
| Conversion of Class B shares to Class A                                              | ​ |            $ |        261 | ​ |    $ |            — |

The accompanying notes are an integral part of these financial statements

F-7

#### Note 1 — Organization and Business OperationsKingswood Acquisition Corp. (the “Company”) is a blank check company incorporated as a Delaware corporation on July 27, 2020. The Company was formed for the purpose of acquiring, merging with, engaging in capital stock exchange with, purchasing all or substantially all of the assets of, engaging in contractual arrangements, or engaging in any other similar business combination with a single operating entity, or one or more related or unrelated operating entities operating in any sector.The Company’s sponsor is Kingswood Global Sponsor LLC (“Sponsor”), a Delaware limited liability company.As of December 31, 2023, the Company had not commenced any operations. All activity for the period from July 27, 2020 (inception) through December 31, 2023, relates to the Company’s formation and initial public offering (“Public Offering” or “IPO”), and, since the completion of the Public Offering, searching for a target to consummate a business combination. The Company will not generate any operating revenues until after the completion of a business combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Public Offering and placed in the Trust Account (defined below) and recognizes changes in the fair value of warrant liabilities and Convertible Promissory Notes (as defined below) as other income (expense).Public OfferingThe Company completed the sale of10,000,000units (the “Units” and, with respect to the shares of Class A common stock included in the Units being offered, the “Public Shares”) at $10.00per Unit on November 24, 2020. Simultaneous with the closing of the Public Offering, the Company completed the sale of6,050,000warrants (the “Private Warrants”), at a price of $1.00per Private W