Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 43

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1C
Chunk 43
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ances of Common Stock

On October 5, 2023, we entered into an equity distribution agreement (the “2023 Equity Agreement”) relating to the ATM Program, pursuant to which we are permitted to sell an aggregate of up to $4,712 in Shares, which represented one-third of the value of the Common Stock held by non-affiliates. As of December 31, 2024, 13,500 shares had been sold under the 2023 Equity Agreement for total proceeds of $154.

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During the years ended December 31, 2024, 2023, and 2022, we had the following other significant financing transactions.  This excludes non-cash transactions.  See notes 19 and 20 in our consolidated financial statements included in this Annual Report on Form 10-K.

      During 2024: 

     o
     We repaid our redeemable financial instrument in the amount of $2,573. The remainder was converted to the 2024 Note.

     o
     We paid dividends of $1,873 and distributions to the convertible non-controlling interest of $4,819

     o
     We paid distributions of $6,758 to the non-convertible non-controlling interest.

      During 2023: 

      o 
      We drew and repaid $15,000 on a revolving line of credit. 

      o 
      We paid dividends of $1,750 and distributions to the convertible non-controlling interest of $4,344. 

      o 
      We paid distributions of $10,041 to the non-convertible non-controlling interest. 

      During 2022: 

      o 
      We issued a new 2020 Senior Note for $2,250 and used the proceeds to pay off an existing 2020 Senior Note 

      o 
      We paid dividends of $2,258 and distributions to the convertible non-controlling interest of $6,485 

      o 
      We paid distributions of $2,236 to non-convertible non-controlling interest. 

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Cash Flows 

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We have seven primary uses for capital:

     (1)
     To fund the operations of our Capital Markets business segment. Our Capital Markets business segment utilizes capital (i) to fund securities inventory to facilitate client trading activities; (ii) for risk trading for our own account; (iii) to fund our collateralized securities lending activities