Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 211

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 211
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 paid an in-kind dividend in the amount $ million.

F-40

| 9. | SERIES A REDEEMABLE CONVERTIBLE PREFERRED STOCK (continued) |

The Holdings Series A Stock has liquidation preferences in the event of a voluntary or involuntary liquidation as follows:

| ● | The greater of $12.50 per share of Holdings Series A Stock if such liquidation occurs prior to the first anniversary of the Funding Date; |

| ● | $13.00 per share of Holdings Series A Stock if such liquidation occurs prior to the second anniversary of the Funding Date; |

| ● | $15.00 per share of Holdings Series A Stock if such liquidation occurs prior to the third anniversary of the Funding Date; |

| ● | $16.00 per share of Holdings Series A Stock if such liquidation occurs prior to the fourth anniversary of the Funding Date. |

Holdings, at its option, may redeem the Series A Stock on any anniversary of the Funding date up to an including the fourth anniversary of the Funding date at the following redemption prices:

| ● | $11.50 per share of Series A Stock on the first anniversary of the Funding Date; |

| ● | $13.00 per share of Series A Stock on the second anniversary of the Funding Date; |

| ● | $15.00 per share of Series A Stock on the third anniversary of the Funding Date; |

| ● | $16.00 per share of Series A Stock on the fourth anniversary of the Funding Date; |

If the Series A Stock have not previously been redeemed or converted, the Series A Stock will be redeemed by Holdings on the fourth anniversary of the Funding Date.

| 10. | SERIES B CONVERTIBLE PREFERRED STOCK |

On September 4, 2024, the Company entered into a Subscription Agreement with certain investors for the purchase of shares of Holdings’ Series B Convertible Preferred Stock, par value $ (the “Holdings Series B Stock”) in a private placement at $ per share, for an aggregate purchase price of $). The Holdings Series B Stock may be converted into shares of Holdings Common Stock, at the option of the investor at a rate equal to the quotient of (i) $ divided, by (ii) the product of (A) multiplied by, (B) the volume weighted average price for the trading days during the -day period immediately prior to such conversion, provided that in no event shall the denominator be less than $ per share (the “Conversion Rate”).

Additionally, the Holdings