Cohen & Company Inc（COHN）資訊與事件COHNCohen & Company Inc

Elroy Air to Merge with CMII, Valued at $800 Million

Elroy Air, U.S.-based technology developer of autonomous heavy-cargo drones for defense, rapid response and commercial logistics, and Columbus Circle Capital Corp II (CMII), a special purpose acquisition company led by the management team of Inflection Point Asset Management and Cohen & Company (COHN), which will be renamed Inflection Point Acquisition Corp VII (IPXG), announced that they have entered into a definitive business combination agreement whereby Elroy Air will become a publicly traded company. The proposed transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions, including regulatory and shareholder approval. The transaction values Elroy Air at $800M pre-money, and has more than $165M in committed PIPE capital, which is expected to fully fund commercial scale production of the Chaparral with U.S. manufacturing partner Kratos Defense & Security Solutions (KTOS). $65M of the more than $165M PIPE is funding in connection with the execution of the BCA. Post-transaction, Elroy Air is expected to have an enterprise value of approximately $1B. The Boards of Directors of both Elroy Air and CMII have unanimously approved the proposed transaction. The deal is expected to close in late 2026, subject to customary closing conditions, including approval by CMII's shareholders and regulatory review. Upon closing, the combined company will use the Elroy Air name and expects to be listed on the Nasdaq under the ticker symbol "ELRY."

Cohen & Company Inc Trading Halted Due to Volatility Trading Pause

Cohen & Company Inc trading halted, volatility trading pause

Cohen & Company Reports Q4 Revenue of $102.7 Million

Reports Q4 revenue $102.7M vs. $18.5M last year. Lester Brafman, CEO said, "We are pleased to deliver strong fourth quarter and full year 2025 results, driven by the continued expansion of our client franchise, particularly within our full-service boutique investment bank, Cohen & Company Capital Markets, focused on frontier technologies, including digital assets, energy transition, and natural resources. In 2025, we strengthened our leadership team with the appointment of managing directors to expand our presence in the energy and energy transition sectors, as well as across space technology, aerospace, and communications infrastructure. During the year, CCM closed $43 billion in transactions and according to SPAC Research ranked number one in SPAC IPO underwritings by left book run deals and in de-SPAC advisory, with a leading share in de-SPAC PIPE transactions, reflecting the strength of our client franchise and execution capabilities. Supported by its growing team and strong pipeline of transactions, we believe that CCM is well positioned for continued success over the long term. CCM's pipeline is significantly more robust than it was a year ago, reflecting our strong IPO presence and significant de-SPAC opportunities. Going forward we will continue to focus on being the advisor of choice to the growth and frontier technology sectors of the economy. For the full year 2025, basic and fully diluted net income attributable to Cohen & Company Inc. per share was $8.33 and $4.35, respectively; total revenue was $275.6 million, an increase of 246% from 2024; and adjusted pre-tax income was $41.4 million, representing 15.0% of total revenue. We finished 2025 with $2.3 million of revenue per employee. We are pleased to announce a special dividend of $0.70 per share, as well as our recurring quarterly dividend of $0.25 per share. These dividends are in addition to the special dividend of $2.00 per share that was announced in December 2025 and paid in January 2026. As we look ahead, with first quarter 2026 revenue trending substantially higher than first quarter 2025, we are well-positioned to continue building on the significant momentum underway and remain confident in our ability to drive long-term, sustainable value for our stockholders."