# EDGAR Filing Document

**Accession Number:** 0001466376
**File Stem:** 0001466376-23-000001
**Filing Date:** 2023-3
**Character Count:** 32773
**Document Hash:** 51a320592fb5c0b576098191d8e25273
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001466376-23-000001.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001466376-23-000001

**CONFORMED SUBMISSION TYPE**: X-17A-5

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**EFFECTIVENESS DATE**: 20230301

**PERIOD START**: 20220101

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SSG CAPITAL ADVISORS, LLC
- **CENTRAL INDEX KEY:** 0001466376
- **IRS NUMBER:** 264566825
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** X-17A-5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 008-68292
- **FILM NUMBER:** 23692796

**BUSINESS ADDRESS:**
- **STREET 1:** 300 BARR HARBOR DRIVE, SUITE 420
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 610 940-5804

**MAIL ADDRESS:**
- **STREET 1:** 300 BARR HARBOR DRIVE, SUITE 420
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

### Attached PDF Documents

**Attachment 1:** `SSGCAAnnualAudit2022.pdf`

# UNITED STATES

# SECURITIES AND EXCHANGE COMMISSION

# Washington, D.C. 20549

OMB APPROVAL

OMB Number: 3235-0123

Expires: Oct. 31, 2023

Estimated average burden

hours per response: 12

# ANNUAL REPORTS

# FORM X-17A-5

# PART III

SEC FILE NUMBER

8-68292

# FACING PAGE

Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934

| FILING FOR THE PERIOD BEGINNING | 01/01/22 | AND ENDING | 12/31/22 |
| --- | --- | --- | --- |
|  | MM/DD/YY |  | MM/DD/YY |

# A. REGISTRANT IDENTIFICATION

NAME OF FIRM: SSG Capital Advisors, LLC

TYPE OF REGISTRANT (check all applicable boxes):

☑ Broker-dealer

☐ Security-based swap dealer

☐ Major security-based swap participant

☐ Check here if respondent is also an OTC derivatives dealer

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

300 Barr Harbor Drive, Suite 420

| (No. and Street) |  |  |
| --- | --- | --- |
| West Conshohocken | Pennsylvania | 19428 |
| (City) | (State) | (Zip Code) |

PERSON TO CONTACT WITH REGARD TO THIS FILING

Matthew Karlson

610-940-5804

mkarlson@ssgca.com

(Name)

(Area Code - Telephone Number)

(Email Address)

# B. ACCOUNTANT IDENTIFICATION

INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*

# Nawrocki Smith

| (Name - if individual, state last, first, and middle name) |  |  |  |
| --- | --- | --- | --- |
| 100 Motor Pkwy, Ste 580 | Hauppauge | NY | 11788 |
| (Address) | (City) | (State) | (Zip Code) |

(Date of Registration with PCAOB)(if applicable)

(PCAOB Registration Number, if applicable)

# FOR OFFICIAL USE ONLY

* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable.

Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

# OATH OR AFFIRMATION

I, Matthew P. Karlson, swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of SSG Capital Advisors, LLC, as of December 31, 2022, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer.

Commonwealth of Pennsylvania - Notary Seal

LORI MICHELE WEXLER - Notary Public

Montgomery County

My Commission Expires Jun 1, 2023

Commission Number 1262887

Lori M. Wexler
Notary Public

Signature: Matthew P. Karlson

Title: Managing Director

This filing** contains (check all applicable boxes):

☑ (a) Statement of financial condition.
☑ (b) Notes to consolidated statement of financial condition.
☑ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X).
☑ (d) Statement of cash flows.
☑ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
☐ (f) Statement of changes in liabilities subordinated to claims of creditors.
☑ (g) Notes to consolidated financial statements.
☑ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable.
☑ (i) Computation of tangible net worth under 17 CFR 240.18a-2.
☐ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
☐ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
☐ (l) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3.
☐ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
☐ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
☑ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
☐ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
☐ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
☐ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
☑ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
☑ (t) Independent public accountant's report based on an examination of the statement of financial condition.
☑ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
☐ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
☑ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
☑ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable.
☐ (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
☐ (z) Other:

**To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.

# SSG CAPITAL ADVISORS, LLC  
FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION  
TOGETHER WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  
AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2022

SSG CAPITAL ADVISORS, LLC

CONTENTS

Report of Independent Registered Public Accounting Firm ... 1

# Financial Statements

Statement of Financial Condition ... 2

Statement of Operations... 3

Statement of Member's Equity... 4

Statement of Cash Flows ... 5

Notes to Financial Statements... 6-8

# Supplemental Information

Schedule I - Computation of Net Capital under Rule 15c3-1
of the Securities and Exchange Commission... 9

Schedule II - Computation for Determination of Reserve Requirements
under Rule 15c3-3 of the Securities and Exchange Commission... 10

Schedule III - Information Relating to Possession or Control Requirements
under Rule 15c3-3 of the Securities and Exchange Commission... 11

![img-0.jpeg](img-0.jpeg)

# NawrockiSmith

CERTIFIED PUBLIC ACCOUNTANTS

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Member of

SSG Capital Advisors, LLC:

# Opinion on the Financial Statements

We have audited the accompanying statement of financial condition of SSG Capital Advisors, LLC (the "Company") as of December 31, 2022, the related statements of operations, changes in member's equity, and cash flows for year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of SSG Capital Advisors, LLC as of December 31, 2022, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

# Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

# Auditor's Report on Supplemental Information

The supplemental information contained in Schedules I, II and III have been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

We have served as SSG Capital Advisors, LLC's auditor since 2022.

Hauppauge, New York

February 28, 2023

Nawrocki Smith LLP

-1-

# SSG CAPITAL ADVISORS, LLC
STATEMENT OF FINANCIAL CONDITION

DECEMBER 31, 2022

**Assets**

| Cash and cash equivalents | $349,105 |
| --- | --- |

| Total Assets | $349,105 |
| --- | --- |

**Liabilities and Member's Equity**

| Liabilities |  |
| --- | --- |
| Accounts payable and accrued expenses | $525 |

| Total Liabilities | 525 |
| --- | --- |

| Member's Equity | 348,580 |
| --- | --- |

| Total Liabilities and Member's Equity | $349,105 |
| --- | --- |

*The accompanying notes are an integral part of these financial statements.*

2

# SSG CAPITAL ADVISORS, LLC

## STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2022

Revenue

| Fee income | $300,000 |
| --- | --- |

Operating Expenses

| Service fees - SSG Advisors, LLC | 576,000 |
| --- | --- |
| Regulatory and other fees | 47,675 |
| Other | 5,883 |

| Total Operating Expenses | 629,558 |
| --- | --- |

| Loss from Operations | (329,558) |
| --- | --- |

| Interest Income | 66 |
| --- | --- |

| Net Loss | ($329,492) |
| --- | --- |

The accompanying notes are an integral part of these financial statements.

3

# SSG CAPITAL ADVISORS, LLC

## STATEMENT OF MEMBER'S EQUITY

FOR THE YEAR ENDED DECEMBER 31, 2022

Balance - Beginning of year $278,072

Net Loss (329,492)

Contributions 400,000

Balance - End of year $348,580

The accompanying notes are an integral part of these financial statements.

4

# SSG CAPITAL ADVISORS, LLC

## STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED DECEMBER 31, 2022

**Cash Flows From Operating Activities**

| Net Loss | ($329,492) |
| --- | --- |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |
| Changes in assets and liabilities: |  |
| Accounts receivable | 17,515 |
| Accounts payable and accrued expenses and due to affiliates | (48,670) |

**Net Cash Used in Operating Activities** (360,647)

**Cash Flows From Financing Activities**

| Contributions | 400,000 |
| --- | --- |

**Net Increase in Cash and Cash Equivalents**

| Cash and Cash Equivalents - Beginning of year | 39,353 |
| --- | --- |
|  | 309,752 |

**Cash and Cash Equivalents - End of year**

$349,105

*The accompanying notes are an integral part of these financial statements.*

5

# SSG CAPITAL ADVISORS, LLC

# NOTES TO FINANCIAL STATEMENTS

# FOR THE YEAR ENDED DECEMBER 31, 2022

# NOTE 1 - NATURE OF BUSINESS

SSG Capital Advisors, LLC (the “Company”), which is wholly-owned by SSG Holdings, LLC (the “Parent”), is an investment banking firm specializing in advising middle market businesses in special situations, mergers and acquisitions, private placements of debt and equity, financial restructurings and valuation analysis. The Company was approved to be registered as a broker-dealer with the Financial Industry Regulatory Authority (“FINRA”), effective April 7, 2010. The Parent provides capital contributions for the operation of the Company as necessary. The Company had $300,000 revenue and a loss of $329,492 in fiscal year 2022, a significant portion of which are service fees paid to the affiliate. The Parent and affiliate companies have adequate capital resources for ongoing operations.

The Parent’s non-securities investment banking business is transacted in SSG Advisors, LLC (the “Affiliate”). SSG Advisors, LLC is also wholly owned by SSG Holdings, LLC.

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

# BASIS OF PREVENTATION

The financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

# REVENUE RECOGNITION

The Company accounts for revenue in accordance with The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers.

The Company typically enters into contracts with clients calling for periodic retainer fees to be paid during the term of the arrangement and a success fee to be paid out once the merger, acquisition, sale, restructuring, or financing (the “Transaction”) is completed. Following the specified monthly term, the contract can generally be terminated by either party without penalty and all retainers and monthly fees are nonrefundable. This Transaction fee is typically based on a percentage of the total value of the Transaction, although in certain cases it may be a flat fee. At times, the Company is paid certain success fees, subsequent to the date the Transaction is completed, such as when its clients receive contingent earn-out payments. The variable consideration relating to success fees is recognized as revenue when it is probable that a significant revenue reversal will not occur. The Company’s services within its contract represent a single performance obligation as all activities to be performed within the context of the contract are inputs to the combined output of performing advisory services that may result in a Transaction. The Company recognizes revenue over time on a time elapsed method for those contracts that provide evidence that the customer is receiving benefits for services performed.

6

SSG CAPITAL ADVISORS, LLC

NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2022

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

# REVENUE RECOGNITION (CONTINUED)

The Company recognizes a contract asset for costs to fulfill a contract when commissions are paid to representatives based on the receipt of contract retainer payments. These amounts will be expensed when the related performance obligation is satisfied. There were no contract assets or liabilities as of December 31, 2022.

# CASH AND CASH EQUIVALENTS

Cash and cash equivalents consist of cash and a money market account.

# INCOME TAXES

The Company follows the guidance of FASB ASC Topic 740, income taxes. The Company is not subject to income taxes at the federal and state levels. The Member is responsible for the tax liability, if any, related to its proportionate share of the Company's taxable income. Accordingly, no provision for income taxes is reflected in the accompanying financial statements. The Company is a pass-through entity and the Member has concluded there are no uncertain tax positions that would require recognition in the financial statements. If the Company were to incur an income tax liability in the future, interest on any income tax liability would be reported as interest expense and penalties on any income tax liability would be reported as income taxes. The Member's conclusions regarding uncertain tax positions may be subject to review and adjustment at a later date based upon ongoing analyses of tax laws, regulations and interpretations thereof as well as other factors. Generally, tax authorities may examine the Company's tax returns for three years from the date of filing and the current and prior three years remain subject to examination as of December 31, 2022.

# USE OF ESTIMATES

The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

7

# SSG CAPITAL ADVISORS, LLC

# NOTES TO FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2022

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

# CONCENTRATIONS OF CREDIT RISK

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to certain limits. The Company maintains cash and cash equivalents with a bank that at times exceeds applicable insurance limits. The Company reduces its exposure to credit risk by maintaining such deposits with high-quality financial institutions. The Company has not experienced losses in such accounts.

# SUBSEQUENT EVENTS

Management evaluated subsequent events occurring through February 28, 2023 the date these financial statements were available to be issued and determined that there were no other events or transactions occurring that require recognition or disclosure in the financial statements.

# NOTE 3- RELATED PARTY TRANSACTIONS

The Company has an expense sharing agreement with its affiliate, SSG Advisors, LLC. The Company pays a monthly service fee to the affiliate for its portion of estimated and allocable indirect operating expenses (including payroll, rent, office supplies, computer and other operating expenses). During the year ended December 31, 2022, the Company incurred service fees of $576,000.

# NOTE 4 - NET CAPITAL REQUIREMENTS

The Company is required to compute net capital in accordance with Securities and Exchange Commission (“SEC”) Rule 15c3-1, which requires the maintenance of minimum net capital the greater of $5,000 or 6 2/3% of aggregate indebtedness. As of December 31, 2022, the Company had net capital of $346,895 which was $341,895 in excess of the required net capital of $5,000. The ratio of aggregate indebtedness to net capital was .15% as of December 31, 2022.

# NOTE 5 - MAJOR CLIENTS

The Company had one client representing 100% of revenue.

8

# SSG CAPITAL ADVISORS, LLC

## SCHEDULE I - COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION

DECEMBER 31, 2022

| SCHEDULE I |  |
| --- | --- |
| NET CAPITAL |  |
| Total member's equity | $348,580 |
| Less: |  |
| Non-allowable assets | (1,686) |
| Net capital | $346,895 |
| AGGREGATE INDEBTEDNESS |  |
| Items included in statement of financial condition: |  |
| Accrued expenses and other liabilities | $525 |
| Total aggregate indebtedness | $525 |
| COMPUTATION OF BASIC NET CAPITAL REQUIREMENT |  |
| Minimum net capital required | $5,000 |
| Excess net capital | $341,895 |
| Net capital less greater of 10% of aggregate indebtedness or 120% of minimum dollar net capital requirement | $340,895 |
| Percentage of Aggregate indebtedness to net capital | 0.15% |
| RECONCILIATION WITH COMPANY'S COMPUTATION |  |

There are no material differences between the preceding computation and the Company's corresponding unaudited Pat II of Form X-17A-5 as of December 31, 2022.

See report of independent registered public accounting firm.

9

# SSG CAPITAL ADVISORS, LLC

# SCHEDULE II - COMPUTATION FOR DETERMINATION OF RESERVE REQUIREMENTS UNDER RULE 15c3-3 OF THE SECURITIES AND EXCHANGE COMMISSION

DECEMBER 31, 2022

# SCHEDULE II

This is not applicable as the Company does not hold customer funds and securities. The Firm will not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073.

See report of independent registered public accounting firm.

10

# SSG CAPITAL ADVISORS, LLC

SCHEDULE III - INFORMATION RELATING TO POSSESSION OR CONTROL

REQUIREMENTS UNDER RULE 15c3-3 OF THE

SECURITIES AND EXCHANGE COMMISSION

DECEMBER 31, 2022

## SCHEDULE III

This is not applicable as the Company does not hold customer funds and securities. The Firm will not claim an exemption from SEA Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073.

See report of independent registered public accounting firm.

11

# SSG CAPITAL ADVISORS, LLC  
BROKER DEALERS ANNUAL EXEMPTION REPORT  
FOR THE YEAR ENDED DECEMBER 31, 2022

# SSG CAPITAL ADVISORS, LLC

# CONTENTS

Report of Independent Registered Public Accounting Firm ... 1

Broker Dealers Annual Exemption Report ... 2

![img-0.jpeg](img-0.jpeg)

# NawrockiSmith

CERTIFIED PUBLIC ACCOUNTANTS

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Member of

SSG Capital Advisors, LLC:

We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) SSG Capital Advisors, LLC (the "Company") did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) the Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to transaction based compensation for identifying potential merger and acquisition opportunities for clients. In addition, the Company did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, did not carry accounts of or for customers and did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.

SSG Capital Advisors, LLC's management is responsible for compliance with the exemption provisions and its statements.

Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Company's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5, and related SEC Staff Frequently Asked Questions.

Hauppauge, New York

February 28, 2023

Nawrocki Smith LLP

# SSG CAPITAL ADVISORS, LLC

# BROKER DEALERS ANNUAL EXEMPTION REPORT

YEAR ENDED DECEMBER 31, 2022

SSG Capital Advisors, LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following:

(1) The Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and
(2) The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. §240.17a-5 because the Company limits its business activities exclusively to receiving transaction based compensation for identifying potential merger and acquisition opportunities for clients; and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; (2) did not carry accounts of or for customers; and 3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception.

SSG Capital Advisors, LLC

I, Matthew Karlson, affirm that, to my best knowledge and belief, this Exemption Report is true and correct.

By: Matthew I. Karlson

Title: Managing Director

SIPC-7

(36-REV 12/18)

SECURITIES INVESTOR PROTECTION CORPORATION

Mail Code: 8967 P.O. Box 7247 Philadelphia, PA 19170-0001

General Assessment Reconciliation

SIPC-7

(36-REV 12/18)

For the fiscal year ended 2022

(Read carefully the instructions in your Working Copy before completing this Form)

# TO BE FILED BY ALL SIPC MEMBERS WITH FISCAL YEAR ENDINGS

1. Name of Member, address, Designated Examining Authority, 1934 Act registration no. and month in which fiscal year ends for purposes of the audit requirement of SEC Rule 17a-5:

8-68292

SSG Capital Advisors, LLC

300 Barr Harbor Drive, Suite 420

West Conshohocken, PA 19428

Note: If any of the information shown on the mailing label requires correction, please e-mail any corrections to form@sipc.org and so indicate on the form filed.

Name and telephone number of person to contact respecting this form.

Matthew Karlson 610-940-5804

2. A. General Assessment (item 2e from page 2)

B. Less payment made with SIPC-6 filed (exclude interest)

Date Paid

C. Less prior overpayment applied

D. Assessment balance due or (overpayment)

E. Interest computed on late payment (see instruction E) for ____ days at 20% per annum

F. Total assessment balance and interest due (or overpayment carried forward)

G. PAYMENT: √ the box Check mailed to P.O. Box ☐ Funds Wired ☐ ACH ☐ Total (must be same as F above) $450

H. Overpayment carried forward

$450
( 0 )

( 0 )
450
$450

3. Subsidiaries (S) and predecessors (P) included in this form (give name and 1934 Act registration number):

The SIPC member submitting this form and the person by whom it is executed represent thereby that all information contained herein is true, correct and complete.

Dated the 28 day of February, 20 22.

SSG Capital Advisors, LLC

(Name of Corporation, Partnership or other organization)

Matt I. K.

(Authorized Signature)

Managing Director

(Title)

This form and the assessment payment is due 60 days after the end of the fiscal year. Retain the Working Copy of this form for a period of not less than 6 years, the latest 2 years in an easily accessible place.

SIPC REVIEWER

Dates:

Postmarked

Received

Reviewed

Calculations

Documentation

Forward Copy

Exceptions:

Disposition of exceptions:

1

# DETERMINATION OF "SIPC NET OPERATING REVENUES"

# AND GENERAL ASSESSMENT

Amounts for the fiscal period
beginning 1/1/22
and ending 12/31/22

Item No.

2a. Total revenue (FOCUS Line 12/Part IIA Line 9, Code 4030)

Eliminate cents

$300,000

2b. Additions:

(1) Total revenues from the securities business of subsidiaries (except foreign subsidiaries) and predecessors not included above.
(2) Net loss from principal transactions in securities in trading accounts.
(3) Net loss from principal transactions in commodities in trading accounts.
(4) Interest and dividend expense deducted in determining item 2a.
(5) Net loss from management of or participation in the underwriting or distribution of securities.
(6) Expenses other than advertising, printing, registration fees and legal fees deducted in determining net profit from management of or participation in underwriting or distribution of securities.
(7) Net loss from securities in investment accounts.

Total additions

2c. Deductions:

(1) Revenues from the distribution of shares of a registered open end investment company or unit investment trust, from the sale of variable annuities, from the business of insurance, from investment advisory services rendered to registered investment companies or insurance company separate accounts, and from transactions in security futures products.
(2) Revenues from commodity transactions.
(3) Commissions, floor brokerage and clearance paid to other SIPC members in connection with securities transactions.
(4) Reimbursements for postage in connection with proxy solicitation.
(5) Net gain from securities in investment accounts.
(6) \(100\%\) of commissions and markups earned from transactions in (i) certificates of deposit and (ii) Treasury bills, bankers acceptances or commercial paper that mature nine months or less from issuance date.
(7) Direct expenses of printing advertising and legal fees incurred in connection with other revenue related to the securities business (revenue defined by Section 16(9)(L) of the Act).
(8) Other revenue not related either directly or indirectly to the securities business. (See Instruction C):

(Deductions in excess of $100,000 require documentation)

(9) (i) Total interest and dividend expense (FOCUS Line 22/PART IIA Line 13, Code 4075 plus line 2b(4) above) but not in excess of total interest and dividend income.

(ii) 40% of margin interest earned on customers securities accounts (40% of FOCUS line 5, Code 3960).

Enter the greater of line (i) or (ii)

Total deductions

2d. SIPC Net Operating Revenues

2e. General Assessment @ .0015

$300,000
$450

(to page 1, line 2.A.)

2

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM X-17A-5

### ANNUAL AUDITED REPORT

### Filer Information

**Filer CIK:** 0001466376

**Filer CCC:** XXXXXXXX

**Is this a LIVE or TEST filing?:** LIVE

**Would you like a Return Copy?:** No

### Submission Information

**Report Period Begin Date:** 01-01-2022

**Report Period End Date:** 12-31-2022

**Type of Registrant:** Broker-dealer

**Any material weaknesses identified?:** No

### Registrant Identification

**Name of Broker-Dealer:** SSG CAPITAL ADVISORS, LLC

**Business Address:** 300 BARR HARBOR DRIVE, SUITE 420, WEST CONSHOHOCKEN, PA, 19428

**Contact Person:** Matthew Karlson

**Contact Phone:** 610-940-5804

### Independent Public Accountant Identification

**Accountant Name:** Nawrocki Smith

**Accountant Address:** 100 Motor Parkway, Suite 580, Hauppauge, NY, 11788

**Accountant Type:** Certified Public Accountant

### OATH OR AFFIRMATION

I, **Matthew Karlson**, swear (or affirm) that, to the best of my knowledge and belief, the accompanying financial statements and supporting schedules pertaining to the firm of **SSG CAPITAL ADVISORS, LLC**, as of **12-31-2022**, are true and correct.

**Signature:** Matthew Karlson

**Title:** Managing Director

**Notarized:** Yes