Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 123

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 123
---
 Stock, which are described in more detail below. The following description of our Series A Convertible Preferred Stock is intended as a summary only and does not purport to be complete and is qualified in its entirety by reference to the Certificate of Designations, and to the applicable provisions of Delaware law. We urge you to read the Certificate of Designations because it, and not this description, defines the rights of holders of shares of Series A Convertible Preferred Stock. Ranking With respect to payment of dividends and distribution of assets upon liquidation, dissolution or winding up of the Company, the Series A Convertible Preferred Stock will rank (i) senior to all classes or series of Common Stock and any other class or series of capital stock of the Company that by its terms is not expressly senior to, or on parity with, the Series A Convertible Preferred Stock; (ii) on parity with any class or series of capital stock of the Company hereafter created that expressly ranks pari passu with the Series A Convertible Preferred Stock; and (ii) junior to any class or series of equity securities of the Company that, by its terms, expressly ranks senior to Series A Convertible Preferred Stock. Dividends Holders of shares of Series A Convertible Preferred Stock are entitled to receive, when, as and if authorized by the Company Board of directors and declared by the Company out of funds legally available for the payment of dividends, cumulative dividends at the rate of 9.00% per annum on the $10.00 original issuance price per share of Series A Convertible Preferred Stock. Dividends on the Series A Convertible Preferred Stock will accrue daily and compound quarterly, will be cumulative from (and including) the Issuance Date, will be computed on the basis of a 360-day year consisting of twelve 30-day months, and will be payable to holders quarterly in arrears on or about March 31, June 30, September 30 and December 31 of each year. Dividends will be payable in cash, except that the Company may elect to pay up to 50% of the accrued and unpaid dividends outstanding by the delivery of additional shares of Series A Convertible Preferred Stock. Liquidation Preference Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary (each, a “Liquidation Event”), after payment or provision for payment of the debts and other liabilities of the Company, the holders of the Series A Convertible Preferred Stock will be entitled to receive, before the holders of any