Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 249

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 249
---
 amount of $4,500. See note 15. The Company incurred interest expense on this debt, which is disclosed in the table below.
   ﻿  
   B. Cohen Circle, LLC ("Cohen Circle")
    
   Cohen Circle is a related party because Daniel Cohen is a member of Cohen Circle.  The Company has a sublease agreement as sub-lessor for certain office space with Cohen Circle. The Company received payments under this sublease agreement, in which payments are recorded as a reduction in rent and utility expenses. This sublease agreement commenced on  August 1, 2018 and has a term that automatically renews for one-year periods if not cancelled by either party upon 90 days’ notice prior to the end of the then-existing term. The income earned pursuant to this sublease agreement is included as a reduction in rent expense in the consolidated statements of income and is disclosed in the table below. 
   ﻿ 

       52

   C. Investment Vehicle and Other 
   ﻿ 
   CK Capital and AOI 
   ﻿ 
   CK Capital and AOI are related parties as they are equity method investments of the Company.  In  December 2019, the Company acquired a 45% interest in CK Capital.  The Company purchased this interest for $18 (of which $17 was paid to an entity controlled by Daniel G. Cohen).  In addition, in  December 2019, the Company also acquired a 10% interest in AOI, a real estate holding company, for $1 from entities controlled by Daniel G. Cohen.  Income earned or loss incurred by the Company on the equity method investments in CK Capital and AOI is included in the tables below.  In accordance with the CK Capital shareholders agreement, the Company  may receive fees for consulting services provided by the Company to CK Capital.  Any fees earned for such consulting services are included in principal transactions and other income in the table below.  See note 11.
    
   In  July 2025, the Company invested $1,156 in the CK Capital Value Fund Cooperatief U.A., a fund affiliated with CK Capital. This investment is included in other investments, at fair value in the consolidated balance sheets as of  September 30, 2025.  The objective of the fund is to realize capital growth and rental income by investing in, actively managing and adding value to office buildings in the Netherlands,