Company: COHN
Filing Date: 2025-09-05
Form Type: 8-K
Source: 0001104659-25-087809
Chunk: 0

Company: Cohen & Co Inc.
Filing Date: 2025-09-05
Form: 8-K
Item: Item 8.01
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Item      Other    

As
previously disclosed, on March 13, 2025, Cohen & Company Financial Management, LLC (formerly known as Cohen Bros. Financial Management,
LLC) (“ Seller”), a Delaware limited liability company and an investment advisor subsidiary of Cohen & Company Inc.,
a Maryland corporation, entered into a Master Transaction Agreement (the “ MTA”), by and between Seller and HCMC III, LLC,
a Delaware limited liability company, as buyer (“ Buyer”). Buyer is an affiliate of Hildene Capital Management, LLC (“ Hildene”),
an SEC-registered investment adviser based in Stamford, Connecticut. Hildene has been investing in collateralized debt obligations
(CDOs) backed by trust preferred securities (TruPS) since the 2007-08 financial crisis, and has extensive experience with monitoring
banks and insurance companies.

Pursuant
to the MTA, Seller agreed to sell, assign, transfer and convey to Buyer all of Seller’s rights and obligations in and under the
Collateral Management Agreements and Collateral Administration Agreements (collectively, the “ CDO Agreements”) for (i) Alesco
Preferred Funding III, Ltd., (ii) Alesco Preferred Funding IV, Ltd., (iii) Alesco Preferred Funding V, Ltd., (iv) Alesco Preferred Funding
VI, Ltd. and (v) Alesco Preferred Funding VIII, Ltd. (each an “ Issuer”) and all books and records with respect to each Issuer.

The
MTA contemplated multiple closings following the date of the MTA (each a “ Closing”), with each Closing to occur following
the satisfaction of the conditions to Closing for the assignment of each CDO Agreement pursuant to the MTA.

As
previously disclosed, on July 9, 2025, in accordance with the terms and conditions of the MTA, Seller and Buyer consummated the Closings
of the sale, assignment, transfer and conveyance to Buyer all of Seller’s rights and obligations in and under the CDO Agreements
for, and all books and records with respect to, Alesco Preferred Funding V, Ltd. and Alesco Preferred Funding VIII, Ltd. for an aggregate
purchase price of $837,447 after required purchase price reductions set forth in the MTA.

On
September 5, 2025, in accordance with the terms and conditions of the MTA, Seller and Buyer consummated the Clos