Cohen & Co amends senior debt, resets principal to $5 million at 10% interest

• Cohen & Company restructured a related-party Senior Promissory Note, replacing a maturing note with a $5 million Amended and Restated Note.
• The new note rolls $2.63 million of unpaid principal and interest into the balance, funded by a $2.37 million additional investment.
• Maturity extends to Aug. 31, 2027; interest set at 10% with quarterly cash payments starting Nov. 30, 2026.
• Prepayment barred until Jan. 31, 2027; allowed thereafter with 31 days’ notice, no penalty.
• Default rate steps up to 11%; the note remains senior, restricting new debt that would rank ahead of it.

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