Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 183

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 183
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 early adoption permitted no earlier than fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of ASU 2020-06 on its financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company’s management does not believe the adoption of ASU 2023-09 will have a material impact on its financial statements and disclosures.

F-18

Management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Note 4 — Initial Public Offering

Pursuant to the Public Offering on November 24, 2020, the Company sold Units at a price of $ per Unit. Each Unit consists of share of Class A common stock, par value $ per share and three-fourths of redeemable warrant (each, a “Public Warrant”). Each whole Public Warrant entitles the holder to purchase one share of Class A common stock at a price of $ per share. Each whole warrant will become exercisable on the later of the completion of the initial business combination or from the closing of the Public Offering and will expire after the completion of the initial business combination, or earlier upon redemption or liquidation.

Simultaneously with the closing of the Public Offering, the underwriters elected to exercise their full over-allotment option of Units at a purchase price of $ per Unit.

Upon closing the Public Offering and the sale of the Over-Allotment Units, a total of $ ($ per Unit) was placed in a U.S.-based trust account, with Continental Stock Transfer & Trust Company (“CST”) acting as trustee.

Warrants

Public Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable on the later of (a) after the completion of a business combination and (b) from the closing of the Initial Public Offering. The Public Warrants will expire from the completion of a business combination or earlier upon redemption or liquidation.