Binah Capital enters $20.3M credit agreement with Byline Bank, refinances prior facility

Binah Capital Group, Inc.

$20.3M term loan from Byline Bank, matures December 23, 2029; variable rate based on Term SOFR plus applicable margin.
Proceeds used to repay and terminate existing $25M Oak Street credit facility.
Amended Series A Preferred Stock: dividends may be paid up to 50% in additional shares if no senior default under new credit agreement.
Financial covenants: fixed charge coverage ≥1.20x, senior net leverage ≤3.00x (stepping to 2.75x), annualized revenue from custodians ≥$18M.
Also includes $1M non-revolving loan commitment and letter of credit facility.

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