Company: COHN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-035625
Chunk: 94

Company: Cohen & Co Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 94
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 TABLE OF CONTENTS Company, effective February 25, 2025. As of February 25, 2025 and as a result of the consummation of the transactions contemplated by the Vellar Purchase Agreement, the Company no longer had any investment in Vellar GP. Pursuant to the Vellar Purchase Agreement, Cohen & Company LLC resigned as the managing member of Vellar GP, effective February 25, 2025. Pursuant to the Vellar Transition Services Agreement, in exchange for Cohen & Company, LLC’s agreement to provide certain transitional services to Vellar GP, Vellar GP agreed to pay to Cohen & Company, LLC certain revenue share amounts up to an aggregate of $4,234 and (ii) agreed to decrease the amount which Cohen & Company, LLC had previously agreed to pay to Vellar GP in connection with the funding of certain Vellar GP litigation expenses from $2,121 to $1,084. Solomon Cohen was also the Portfolio Manager of the Company’s SPAC Series Funds. In connection with this role, Solomon Cohen was able to acquire interests in founders shares of SPACs which are not sponsored by the Company in the following two ways: (i) Solomon Cohen would purchase an equity interest in one of the Company’s consolidated subsidiaries for a nominal amount and such consolidated subsidiary will acquire founders shares of the applicable SPAC; and (ii) Solomon Cohen would purchase for a nominal amount an equity interest in a third party sponsor entity in which the Company would also invest. When a SPAC completes its business combination, the SPAC founders shares are converted into common shares of the post-business combination public company, and eventually distributed by our consolidated subsidiary (in the case of subclause (i) above) or by the sponsor (in the case of subclause (ii) above). See note 3X to the Company’s audited financial statements for the year ended December 31, 2024 in the 2024 Form 10-K for a description of how the Company accounts for its interests in SPACs. The total net income (loss) attributable to the non-controlling interest recognized by the Company during the year ended December 31, 2023 in connection with Solomon Cohen’s investments in our consolidated subsidiaries holding founder shares (as described in subclause (i) above) and the founders share interests allocable to Solomon Cohen was $2,049. The total net income (loss) attributable to the non-controlling interest recognized by the Company during the year ended December 31,