Company: BCG
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001410578-25-000663
Chunk: 164

Company: Binah Capital Group, Inc.
Filing Date: 2025-04-08
Form: 424B3
Chunk 164
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 | ​ |   |   670 |
| ​                      | ​ |   | 4,405 |
| Less: Imputed interest | ​ |   |  -585 |
| Lease liability        | ​ | $ | 3,820 |

F-21

14.SERIES A REDEEMABLE CONVERTIBLE PREFERRED STOCK On March 15, 2024 (the “Funding Date”), in connection with the consummation of the Business Combination, Holdings and BMS entered into a Subscription Agreement with an investor for the purchase of 1,500,000 shares of Holdings’ Series A Redeemable Convertible Preferred Stock (the “ Holdings Series A Stock”) in a private placement at $9.60 per share, for an aggregate purchase price of $14.4 million (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 be 1.5 shares 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 to 50% of the amount due, in duly authorized, validly issued, fully paid and non-assessable share of Holdings Series A Stock at a value of $10 per share. For the year ended December 31, 2024, the Company paid dividends under the Series A PIPE in the amount of approximately $1.1 million of which $0.56 million was paid in cash and $0.55 was 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