INSU Acquisition Corp. III to liquidate; Cohen & Co expects $960K loan loss in Q4 2022

Cohen & Co Inc.

INSU Acquisition Corp. III will dissolve and liquidate by Dec 22, 2022; redeeming Class A shares at ~$10.09/share.
Cohen & Co subsidiary loaned $960K to the SPAC; expects no repayment and will record expense in Q4 2022.
SPAC sponsors, including Cohen-managed entities, waived redemption rights on Class B shares.
Trading of INSU common stock, units, and warrants will cease as of Dec 21, 2022.

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