Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 167

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 167
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” of November 24, 2023 with February 24, 2024.

F-10

Associated with the Merger Agreement, Wentworth has agreed to pay for certain merger related expenses and additional funding in the Trust Account. For the year ended December 31, 2023, Wentworth deposited $ 622,965into the Trust Account. Proxy Statements On May 18, 2022, the Company convened its special meeting in lieu of an annual meeting of stockholders virtually and voted in the affirmative on the proposal to extend the date by which the Company must complete its business combination (the “Business Combination”) from May 24, 2022 to November 24, 2022 (“Extension Amendment Proposal”). In connection with the Extension Amendment Proposal, shareholders holding 10,036,744Public Shares exercised their right to redeem such Public Shares for a pro rata portion of the Trust Account. On May 20, 2022, the Company paid from the Trust Account an aggregate amount of $ 102,894,278, or approximately $ 10.25per share, to redeeming shareholders. For each one-month extension, the Sponsor agreed to contribute, as a loan, to the Company $ 60,969or approximately $ 0.04per Public Share not redeemed in connection with the Extension Amendment. Contributions to the Trust Account in the amount of $ 60,969were payable monthly through the Company’s extension date in November 2022. On November 23, 2022, the Company convened its special meeting in lieu of an annual meeting of stockholders virtually and voted in the affirmative on the proposal to extend the date by which the Company must complete its initial business combination from November 24, 2022 to May 24, 2023 (the “Extension Amendment Proposal 2”). In connection with the Extension Amendment Proposal 2, shareholders holding 954,800Public Shares exercised their right to redeem such Public Shares for a pro rata portion of the Trust Account. On November 21, 2022, the Company paid from the Trust Account an aggregate amount of $ 10,142,765, or approximately $ 10.62per share, to redeeming shareholders. In connection with such extension and pursuant to the Merger Agreement, Wentworth deposited $ 69,218per month into the Trust Account through the Company’s extension date in May 2023. On May 18, 2023, the Company convened a special meeting of stockholders virtually and voted