Cohen & Co. amends $4.5M promissory note with board member; maturity extended to 2026, rate raised to 12%

Cohen & Co Inc.

Operating subsidiary Cohen & Company, LLC amended $4.5M senior promissory note held by JKD Capital Partners I LTD (owned by director Jack DiMaio).
Maturity date extended from January 31, 2024 to January 31, 2026; redemption/prepayment dates extended to January 31, 2025.
Interest rate increased from 10% to 12% per annum effective January 31, 2024.
No other changes to note terms; amendment executed January 5, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Cohen & Co Inc. amended Amendment No. 1 to Amended and Restated Senior Promissory Note with JKD Capital Partners I LTD (effective 2024-01-05).

Action: amendment
Agreement: notes offering
Counterparty: JKD Capital Partners I LTD
Effective: 2024-01-05

Exact text from the filing

On January 5, 2024, the Operating LLC and JKD entered into the Amendment No. 1 to Amended and Restated Senior Promissory Note (the “Amendment”)

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Cohen & Co Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-001800

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