Company: COHN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001437749-25-014235
Chunk: 147

Company: Cohen & Co Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 147
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 receivable from various counterparties in connection with the Company's advisory business and SFA transactions that  may be converted into equity shares. These receivables are carried at fair value.
    
   Interests in SPVs represents consideration the Company has received for services provided by CCM, rather than cash.  The SPVs hold convertible notes receivable interests in the counterparties.  The Company does not consolidate the SPVs and carries its interests in the SPVs at fair value.  See note 8 for discussion of the determination of fair value.
    
   A total of $611 and $1,721 of the amounts shown as other investments, at fair value above served as collateral for the Company's margin loan payable as of  March 31, 2025 and  December 31, 2024, respectively.  See note 6.  
    
   Other Investments Sold, Not Yet Purchased, at Fair Value
    
   Other investments sold, not yet purchased, at fair value consisted of the following.
    
   OTHER INVESTMENTS SOLD, NOT YET PURCHASED, AT FAIR VALUE
   (Dollars in Thousands)

       March 31, 2025    December 31, 2024  
 Equity securities  $-  $1,181 
 Share forward liabilities   -   470 
 Other investments sold, not yet purchased, at fair value  $-  $1,651 

   Share forward liabilities represent derivative positions related to SFAs entered into by the Company.

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   8. FAIR VALUE DISCLOSURES 
    
   Fair Value Option 
    
   The Company has elected to account for certain of its other financial assets at fair value under the fair value option provisions of FASB ASC 825. The primary reason for electing the fair value option was to reduce the burden of monitoring the differences between the cost and the fair value of the Company’s investments, previously classified as available for sale securities, including the assessment as to whether the declines are temporary in nature, and to further remove an element of management judgment.
    
   Such financial assets accounted for at fair value include:
    
     ●   securities that would otherwise qualify for available for sale treatment; 
  ●   investments in equity method affiliates that have the attributes in FASB ASC 946-10