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Cohen & Co Inc. (NYSE American:COHN) announced Friday the completion of its sale and transfer of collateral management and administration rights in three collateralized debt obligation (CDO) entities to HCMC III, LLC, an affiliate of Hildene Capital Management, for a total purchase price of $2,022,403.
The transaction, finalized in accordance with a previously disclosed Master Transaction Agreement (MTA), covers all rights and obligations in the CDO agreements and related records for Alesco Preferred Funding III, Ltd., Alesco Preferred Funding IV, Ltd., and Alesco Preferred Funding VI, Ltd. The sale price reflects required reductions as set forth in the MTA. According to InvestingPro data, Cohen & Co maintains a healthy financial profile with impressive revenue growth of 79% and an attractive dividend yield of 8.3%.
Cohen & Co had earlier closed on the sale of similar rights for Alesco Preferred Funding V, Ltd. and Alesco Preferred Funding VIII, Ltd. to the same buyer on July 9, 2025, for an aggregate purchase price of $837,447.
The MTA, originally executed on March 13, 2025, provided for multiple closings as conditions for each CDO agreement assignment were met. With the completion of this latest closing, no further transactions are planned under the agreement.
Hildene Capital Management is an SEC-registered investment adviser based in Stamford, Connecticut, with experience investing in CDOs backed by trust preferred securities.
All information is based on a press release statement contained in a recent SEC filing.
In other recent news, Cohen & Company Inc reported a notable improvement in its financial performance for the second quarter of 2025. The company achieved a net income of $1.4 million, a significant turnaround from a net loss of $2.3 million during the same period last year. This development underscores a positive shift in the company’s earnings trajectory. Additionally, investor enthusiasm was evident following the earnings announcement, reflecting confidence in the company’s strategic direction. These recent developments highlight Cohen & Company’s progress in enhancing its financial health. The company’s latest earnings report is a key focus for investors seeking insights into its performance.
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