Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 125

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 125
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 accrued and unpaid dividends (whether or not authorized or declared) as of the redemption date. Mandatory Redemption; Maturity On the fourth anniversary of the Issuance Date, the Company will be required to redeem all shares of Series A Convertible Preferred Stock then outstanding for cash at a redemption price equal to $16.00 per share of Series A Convertible Preferred Stock, plus an amount equal to any accrued and unpaid dividends (whether or not authorized or declared) as of such date. Anti-dilution Provisions The Reference Price and Reference Rate are subject to customary adjustments in the case of certain actions taken with respect to the Common Stock, including distributions to holders of Common Stock in shares, subdivisions, splits or combinations of the Common Stock, issuances, sales of or distribution of convertible securities, options or any other assets to holders of Common Stock for which there is no corresponding distribution in respect of the Series A Convertible Preferred Stock. Voting Rights As long as any shares of Series A Convertible Preferred Stock are outstanding, the Company shall not, without the affirmative vote of the holders of a majority of the then outstanding shares of Series A Convertible Preferred Stock amend, alter, repeal or otherwise modify any provision of the Company’ certificate of incorporation or the Certificate of Designations in a manner that would alter or change the terms or the powers, preferences, rights or privileges of the Series A Convertible Preferred Stock as to affect them adversely. Additionally, holders of the Series A Convertible Preferred Stock shall be entitled to one vote per share and entitled to vote together (as a single class) with the holders of Holders’ common stock on all matters submitted to a vote of stockholders of the Company, except as otherwise provided in the Certificate of Designations or as required by applicable law. Covenant Obligations In addition to customary covenants, for so long as any shares of Series A Convertible Preferred Stock remain outstanding:

| ● | the Company’ total leverage (including all indebtedness (not including short-term payables and the current aged payables), and Series A Convertible Preferred Stock, other than Series A Convertible Preferred Stock issued in respect of certain fees and expenses incurred in connection with the Business Combination) may not exceed six times (6x) the Company’ and its consolidated subsidiaries’ trailing twelve months Adjusted EBITDA (as defined in the Certificate of Designations). |

| ● | Subject to certain exceptions, unless and until full cumulative dividends on the Series A Convertible Preferred Stock for all past dividend periods that have ended shall have