Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 190

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 190
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 rights to include their securities in other registration statements filed by the Company, subject to certain limitations. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

A deferred underwriting discount of $ per Unit, or $ million in the aggregate, will be payable to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes an initial business combination, subject to the terms of the underwriting agreement, which has been revised as disclosed below.

In connection with the initial Business Combination, the Company engaged Oppenheimer & Co. Inc. (“Oppenheimer”) and SPAC Advisory Partners LLC (“SAP”) to act as its financial advisors, each will be entitled to customary fees in such capacity, with payment due at, and conditioned upon, the closing of the Business Combination. Oppenheimer & Co. Inc. will be due % of the value of the Company’s IPO or upon consummation of the Company’s initial Business Combination. This amount is reported on the balance sheet as deferred underwriters’ compensation.

In connection with the closing of the Business Combination, the underwriting agreement was revised, and the Company, Oppenheimer and SAP agreed to the following:

| ● | Oppenheimer was paid $1.5 million in cash at the closing of the Business Combination; plus |

| ● | $500,000 in cash to be paid prior to the one-year anniversary of Closing; plus |

| ● | $460,000 in cash to be paid as a portion of a capital markets advisory fee: plus |

| ● | SAP was paid $0.25 million in cash at closing. |

Note 8 — Stockholders’ Deficit On August 17, 2023, Sponsor converted 2,605,000shares of Class B common stock into shares of Class A common stock on a one-for-one basis. The holders of the newly converted shares of Class A common stock have agreed to carry over the transfer restrictions associated with the Founder Shares and have no rights to funds in the Trust Account. After the conversion and redemptions at December 31, 2023, there are 3,193,083and 270,000Class A common and Class B common stock, respectively, issued and outstanding. Preferred Stock— The Company is authorized to issue 1,000,000shares of preferred stock with a par value of $ 0.0001per share and with such designations, voting and other rights and preferences as may