Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 54

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 54
---
 | ​            | -3,072 |
| ​                                                                            | ​ | ​                  |      ​ | ​ | ​            |      ​ |
| Pro forma weighted average shares outstanding of common stock                |   | ​                  | 16,613 |   | ​            | 16,129 |
| ​                                                                            | ​ | ​                  |      ​ | ​ | ​            |      ​ |
| Net (loss) per share (Basic and Diluted) attributable to common stockholders | ​ | $                  |  -0.18 | ​ | $            |  -0.19 |

Excludes KWAC’s 8,703,000 KWAC Public Warrants and 6,481,550 KWAC Private Placement Warrants from the computation of diluted net income (loss) per share attributable to common stockholders for the indicated because including them would have had an antidilutive effect. The 8,703,000 of Public Warrants and the 6,481,550 Private Placement Warrants have an exercise price of $11.50 and not converted to Class A Common Stock at closing and therefore are anti-dilutive for the year ended December 31, 2023.

31

<div align='center'>**MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**</div>

The following discussion and analysis may contain forward-looking statements that are subject to numerous risks and uncertainties, and our future results may differ materially from those contained in or implied by any forward-looking statements. You should read the following discussion together with the consolidated financial statements and related notes included elsewhere in this prospectus. The discussion should be read together with the historical audited annual consolidated financial statements as of and for the years ended December 31,2023, and 2022, and the respective notes thereto, included elsewhere in this prospectus. The discussion and analysis should also be read together with the unaudited pro forma financial information. See “Unaudited Condensed Combined Pro Forma Financial Information.” The following discussion and analysis may contain forward-looking statements that are subject to numerous risks and uncertainties, and our future results may differ materially from those contained in or implied by any forward-looking statements, as a result of various factors, including those discussed under “Risk Factors,” “Cautionary Note Regarding Forward-Looking Statements” and other parts of this prospectus. Unless the context otherwise requires, all references in this section to “we,” “our,” “us” or “