Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2945

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 2945
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 are likely going forward.  These future adjustments may likewise result in material amounts of deferred tax benefit or expense going forward.  

﻿   

      60

Net Income / (Loss) Attributable to the Non-Convertible Non-Controlling Interest

Net income / (loss) attributable to the non-convertible non-controlling interest for the years ended December 31, 2023 and 2022 was comprised of the non-controlling interest related to member interests in consolidated subsidiaries of the Operating LLC other than interests held by us for the relevant periods.  These interests are not convertible into Common Stock.  

      Year Ended December 31, 

      2023 

      2022 

      Change 

      Insurance SPAC III Sponsor Entities 
      
     $
     -

     $
     (4,808
     )
      
     $
     4,808

      Vellar GP 

     14,755

     -

     14,755

      Other SPAC related 

     4,835

     (18,395
     )

     23,230

     $
     19,590

     $
     (23,203
     )
      
     $
     42,793

Insurance SPAC III sponsor entities are the sponsor entities formed by us for our sponsored SPAC, Insurance SPAC III.  Prior to March 31, 2023, Vellar GP was the general partner of the SPAC Fund but did not consolidate it.  Effective April 1, 2023, Vellar GP began consolidating the SPAC Fund. Vellar GP primarily invests in share forward arrangements.  On February 25, 2025, the Operating LLC sold its 33.4% interest in Vellar GP pursuant to the Vellar Purchase Agreement and will no longer consolidate Vellar GP.  See notes 4, 10, and 21 to our consolidated financials included in this Annual Report on Form 10-K.  Other SPAC related is mainly comprised of an entity that we consolidated but do not wholly own that invests in other SPAC sponsor entities.  

Net Income / (Loss) Attributable to the Convertible Non-Controlling Interest 

Net income / (loss) attributable to the convertible non-controlling interest for the years ended December 31, 2023 and 2022 was comprised of the non-controlling interest related to member interests in the Operating