Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 53

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 53
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 the transaction adjustments in the jurisdictions they are expected to be incurred in, at the estimated statutory tax rate in those jurisdictions. The tax adjustments could change based upon the Company’s final determination of the tax treatment of the individual items and the statutory tax rate in the jurisdictions where the fair values are expected to occur and/ or as a result of any changes in legislation prior to closing. Excluding the impact of all Merger accounting, and transaction related costs related to the Merger, the underlying effective tax rate of the combined group for the year ended December 31, 2023, would have been 0.0% as a result of federal net operating loss carryovers of $4.4 million available to offset future taxable income indefinitely. 4. Earnings per Share Represents the earnings per share calculated using the historical weighted average shares outstanding, and the issuance of additional shares in connection with the Business Combination, assuming the shares were outstanding since January 1, 2023. As the Business Combination and related equity transactions are being reflected as if they had occurred at the beginning of the periods presented, the calculation of weighted average shares outstanding for basic and diluted net income (loss) per share assumes that the shares issuable relating to the Business Combination have been outstanding for the entirety of all periods presented. If the maximum number of shares are redeemed, this calculation is retroactively adjusted to eliminate such shares for the entire period.

30

The unaudited pro forma condensed combined financial information has been prepared assuming two alternative levels of redemption into cash of Common Stock for the year ended December 31, 2023:

| ​                                                                            
 ​                                                                            
 ​                                                                            | ​ 
 ​ 
 ​ | ​                  
 For the Year Ended 
 December 31, 2023  |      ​ | ​ | ​            |      ​ |
|:-----------------------------------------------------------------------------|:--|:-------------------|-------:|:--|:-------------|-------:|
| ​                                                                            | ​ | Pro Forma          |        | ​ | Pro Forma    |        |
| ​                                                                            | ​ | Combined           |        | ​ | Combined     |        |
| ​                                                                            | ​ | (Assuming          |        | ​ | (Assuming    |        |
| ​                                                                            | ​ | No                 |        | ​ | Maximum      |        |
| ​                                                                            |   | Redemptions)       |        |   | Redemptions) |        |
| Pro forma net (loss)                                                         |   | ​                  | -3,072 |