Company: BCG
Filing Date: 2025-04-03
Form Type: S-1/A
Source: 0001410578-25-000637
Chunk: 171

Company: Binah Capital Group, Inc.
Filing Date: 2025-04-03
Form: S-1/A
Chunk 171
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 price of$ 14.4million (the “Series A PIPE”). The Holdings Series A Stock may be converted into shares of Holdings Common Stock after the second anniversary of the closing of the Series A PIPE, which such conversion shall initially be1.5shares of Holdings Common Stock for each share of Series A Convertible Preferred Stock, subject to certain adjustments provided in the Certificate of Designations.

Additionally, the Holdings Series A Stock carries a cumulative dividend at a rate of nine percent (9%) per annum, payable and compounded quarterly on the last day of each quarter. At the discretion of Holdings, the payment may be made in cash or up to50%of the amount due, in duly authorized, validly issued, fully paid and non-assessable share of Holdings Series A Stock at a value of$ 10per share. For the year ended December 31, 2024, the Company paid dividends under the Series A PIPE in the amount of approximately$ 1.1million of which$ 0.56million was paid in cash and$ 0.55was paid in-kind.

The Holdings Series A Stock has liquidation preferences in the event of a voluntary or involuntary liquidation as follows:

| ● | The greater of $12.50 per share of Holdings Series A Stock if such liquidation occurs prior to the first anniversary of the Funding Date; |

| ● | $13.00 per share of Holdings Series A Stock if such liquidation occurs prior to the second anniversary of the Funding Date; |

| ● | $15.00 per share of Holdings Series A Stock if such liquidation occurs prior to the third anniversary of the Funding Date; |

| ● | $16.00 per share of Holdings Series A Stock if such liquidation occurs prior to the fourth anniversary of the Funding Date. |

Holdings, at its option, may redeem the Series A Stock on any anniversary of the Funding date up to an including the fourth anniversary of the Funding date at the following redemption prices:

| ● | $11.50 per share of Series A Stock on the first anniversary of the Funding Date; |

| ● | $13.00 per share of Series A Stock on the second anniversary of the Funding Date; |

| ● | $15.00 per share of Series A Stock on the third anniversary of the Funding Date; |

| ● | $16.00 per share of Series A Stock on the fourth anniversary of the Funding Date; |

If the Series A Stock have not previously been redeemed or converted, the Series