Company: BCG
Filing Date: 2025-09-03
Form Type: POS AM
Source: 0001410578-25-001926
Chunk: 208

Company: Binah Capital Group, Inc.
Filing Date: 2025-09-03
Form: POS AM
Chunk 208
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million. The Holdings Series B Stock may be converted into shares of Holdings Common Stock, at the option of the investor at a rate equal to the quotient of (i) $ 10.00divided, by (ii) the product of (A) .80multiplied by, (B) the volume weighted average price for the 20trading days during the 30-day period immediately prior to such conversion, provided that in no event shall the denominator be less than $ 6.00per share (the “Conversion Rate”).

F-45

15.SERIES B CONVERTIBLE PREFERRED STOCK (continued) Additionally, the Holdings Series B Stock carries a cumulative dividend at a rate of nine percent ( 7%) 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 B Stock at a value of $ 10per share. As of December 31, 2024, included in accounts payable, accrued expenses and other liabilities on the accompanying consolidated statement of financial condition is an accrued dividend in the amount of $ 0.03million that was paid subsequent to December 31, 2024. The Company may, at its option, in whole, or part, redeem the Holdings Series B Stock any time after the first anniversary of the date of the Subscription Agreement at a redemption price equal to the greater of (i) $ 12.00per share of Holdings Series B Stock, plus accrued but unpaid dividends or (A) 1.20multiplied by (B) the volume weighted average price for 20trading days during the 30-day period immediately prior to the redemption; provided that such price shall not greater than $ 20.00.

16.WARRANTS

The following table summarizes the warrants outstanding as of December 31, 2024:

| ​                 | ​ |                  ​ |
| Class of Warrants |   | Number Outstanding |
| Public warrants   |   |         15,147,958 |

Each whole warrant entitles the registered holder to purchase share of Class A common stock at a price of $ per share. A holder may exercise its warrants only for a whole number of shares of Class A common stock. fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Company may redeem the warrants at a