BCGWW

Binah Capital Group, Inc. Warrants provide holders with the right to purchase shares of Binah Capital Group common stock at a specified exercise price (typically $11.50 per share) during a defined period, usually several years following the completion of the SPAC's business combination. These warrants were issued as part of the SPAC's initial capital raising, either bundled in units with common shares or distributed to sponsors and early investors. Warrants offer leveraged exposure to the potential success of the business combination. The warrants become exercisable after the SPAC completes its merger or acquisition with a target company, with the exercise price set above the initial share price to provide upside incentive. Warrant holders do not have voting rights or redemption rights prior to business combination like common stockholders. However, warrants provide amplified return potential if the post-combination company's stock price appreciates significantly above the exercise price. The warrant value reflects both intrinsic value (when the stock trades above the strike price) and time value based on the remaining exercise period and stock volatility. These financial instruments appeal to investors seeking higher-risk, higher-reward exposure to SPAC outcomes. If Binah Capital Group successfully identifies and completes a business combination with an attractive target that performs well post-merger, warrant holders could realize substantial gains. Conversely, if the combined company's stock price remains below the exercise price through the warrant's life, they expire worthless. The warrants' value depends critically on the quality of the target company, the merger terms, execution of the business plan post-combination, and overall market conditions.