Company: COHN
Filing Date: 2025-12-08
Form Type: 8-K
Source: 0001104659-25-119358
Chunk: 0

Company: Cohen & Co Inc.
Filing Date: 2025-12-08
Form: 8-K
Item: Item 8.01
Chunk 0
---
Item 8.01      Other Events.  

As previously disclosed, on June 23, 2025, Columbus Circle Capital
Corp. I (the “ SPAC”), a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of
effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with
one or more businesses, entered into a definitive business combination agreement (as amended on July 28, 2025, the “ Business Combination
Agreement”), with ProCap BTC, LLC, a Delaware limited liability company (“ ProCap BTC”), ProCap Financial, Inc., a Delaware
corporation (“ ProCap Financial”), Crius SPAC Merger Sub, Inc., a Delaware corporation (“ SPAC Merger Sub”), Crius
Merger Sub, LLC, a Delaware limited liability company (“ Company Merger Sub”), and Inflection Points Inc, d/b/a Professional
Capital Management, a Delaware corporation.

Cohen & Company, LLC (the “ Operating LLC”), the operating
subsidiary of Cohen & Company Inc., a Maryland corporation (the “ Company”), owns a portion of, and serves as the managing
member of, Columbus Circle 1 Sponsor Corp LLC, which served as the sponsor of the SPAC (the “ Sponsor”).

On December 5, 2025, the transactions contemplated by the Business
Combination Agreement were consummated (the “ Closing”). Upon the Closing, the SPAC and ProCap BTC merged into SPAC Merger
Sub and Company Merger Sub, respectively, and became wholly-owned subsidiaries, ProCap Financial is the go-forward company following
the Closing. ProCap Financial’s common stock and warrants commenced trading on The Nasdaq Global Market on December 8, 2025 under
the symbol “ BRR” and “ BRRWW”, respectively.

As previously disclosed, the Sponsor held an aggregate of 8,333,333
founder shares in the SPAC, substantially all of which were distributed to members prior to the Closing. In connection with the Closing,
these SPAC founder shares were converted into shares of ProCap Financial’s common stock (the “ ProCap Shares”). In addition
to existing restrictions agreed upon in connection with SPAC’s initial public offering, the ProCap Shares are subject to certain
transfer restrictions, which restrictions will lapse and the ProCap Shares will no longer be subject to these transfer restrictions upon
the earliest to occur of the following