Cohen & Co Securities extends $15M loan facility to June 2028; raises net worth covenant to $80M

On June 18, 2026, the Borrower and the Lender entered into the Fourth Amendment to Third Amended and Restated Loan Agreement (the "Amendment"). Pursuant to the Amendment, the Loan Agreement was amended to: (i) replace certain definitions in the Loan Agreement to reflect the Borrower’s and its parent entity’s current names, (ii) provide that a failure to maintain Excess Net Capital (as defined under Rule 15c3-1 promulgated under the Securities and Exchange Act of 1934, as amended) of at least $30 million will constitute an event of default under the Loan Agreement unless such Excess Net Capital amount is restored within two business days, (iii) extend the maturity date and the final date upon which loans can be made under the Loan Agreement from June 18, 2026 to June 18, 2028; and (iv) increase the amount of Tangible Net Worth (as such term is defined in the Loan Agreement) maintained by the Borrower from and after March 31, 2027 from $70 million to $80 million. Except as described here