Company: COHN
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024506
Chunk: 58

Company: Cohen & Co Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 1
Chunk 58
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 financial covenants in the Byline Credit Facility. As of  June 30, 2025 and  December 31, 2024, the Company was in compliance with all of the following financial covenants.
    
   1. Cohen Securities' tangible net worth as defined must exceed $70,000;
   2. Cohen Securities' excess net capital as defined in Rule 15c3-1 of the Exchange Act must exceed $30,000; and
   3. The total amount drawn on the facility must not exceed 25% of Cohen Securities' tangible net worth as defined.  
    
   As of  June 30, 2025 and  December 31, 2024, no amounts were outstanding under the Byline Credit Facility, and the Company was in compliance with all financial covenants thereunder.
     ﻿
   Interest Expense, net 
    
   INTEREST EXPENSE
   (Dollars in Thousands)

       Three Months Ended June 30,    Six Months Ended June 30,  
   2025    2024    2025    2024  
 Junior subordinated notes  $1,186  $1,172  $2,330  $2,333 
 2020/2024 Notes   288   135   574   262 
 Byline Credit Facility   22   19   40   38 
 Redeemable financial instrument - JKD Investor   -   99   -   458 
  $1,496  $1,425  $2,944  $3,091 

       ﻿

       39

   16. EQUITY 
    
   Stockholders’ Equity
    
   Common Equity: The following table reflects the activity for the six months ended  June 30, 2025 related to the number of shares of unrestricted Common Stock that the Company had issued.

       Common Stock  
   Shares  
 December 31, 2024   1,635,261 
 Vesting of shares   140,781 
 Shares withheld for employee taxes and retired   (35,187)
 June 30, 2025   1,740,855 

   Series E Voting Non-Convertible Preferred Stock: Each share of