Company: BCG
Filing Date: 2025-09-08
Form Type: 424B3
Source: 0001104659-25-088309
Chunk: 163

Company: Binah Capital Group, Inc.
Filing Date: 2025-09-08
Form: 424B3
Chunk 163
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 permanent certain elements of the Tax Cuts and Jobs Acct, including accelerated tax deductions for qualified property and research expenditures, and the business interest expense limitation. We are currently assessing the Act’s impact on our consolidated financial statements.

F-13

| 3. | MERGER AND RECAPITALIZATION |

Upon the consummation of the Business Combination, (i) the holders of shares of KWAC’s common stock (“ KWAC Common Stock”) issued and outstanding immediately prior to the effective time of the Business Combination (other than any redeemed shares) receive done share of common stock of Holdings (“ Holdings Common Stock”) in exchange for each share of KWAC Common Stock held by them, subject to adjustment as more fully described herein, (ii) 1,100,000 shares of Holdings Common Stock issued to Sponsor wasplaced by Holdings into an escrow account and willnot bereleased to theSponsor unless the dollar volume-weighted average price of Holdings Common Stock exceeds $12.00 for 20 trading days within any 30-day trading period during the four-year period following the consummation of the Business Combination, (iii) the holders of each whole warrant to purchase KWAC Class A Common Stock receive done warrant to purchase Holdings Common Stock at an exercise price of $11.50 per share, (iv) 12 million shares of Holdings Common Stock, subject to adjustment as more fully described herein, wasissued to the equity holders of Wentworth in proportion to their ownership interests in Wentworth, (v) an additional 1,100,000 shares of Holdings Common Stock wasissued to certain equity holders of BMS, (vi) 3,084,450 KWAC Private Placement Warrants held by Sponsor wereforfeited immediately prior to the effective time of the Business Combination, and (vii) 3,084,450 warrants to purchase Holding Common Stock at an exercise price of $11.50 per share wereissued to the equity holders of BMS in proportion to their ownership interests in BMS. As a result of the Business Combination, BMS bec ame an indirect, wholly-owned subsidiary of Holdings. Additionally, on the Closing Date, Holdings entered into a Subscription Agreement with an investor for thepurchase of1,500,000 shares of Holdings’ Series A RedeemableConvertible Preferred Stock (the “ Holdings Series A Stock”) in a private placement at $9.60 per share, for an aggregate purchase price of $14.4 million (the “ Series A PIPE”). The Holdings Series A Stock