IFMI Announces Corporate Name Change To Cohen & Company Inc. And Plan For Reverse Stock Split

Institutional Financial Markets, Inc. (NYSE American: IFMI) (the “Company”), a financial services firm specializing in fixed income markets, today announced that, effective at 5:00 p.m. (EDT) on September 1, 2017, the Company will change its name to “Cohen & Company Inc.”. The Company’s common stock will continue to be listed with NYSE American and the Company anticipates that, on September 5, 2017, its shares will begin trading under the symbol “COHN.” The Company’s common stock will cease trading under Institutional Financial Markets, Inc. and stock symbol (IFMI) following the close of market on September 1, 2017. The Company’s subsidiaries will continue to operate under their current names, except for the Company’s majority-owned subsidiary, IFMI, LLC, which will change its name to “Cohen & Company, LLC,” effective September 1, 2017. The Company was previously known as Cohen & Company Inc. until January 2011.

The Company’s Board of Directors also approved a one-for-ten reverse stock split of the Company’s issued and outstanding common stock. Upon the effectiveness of the reverse stock split, which will be 5:00 p.m. (EDT) on September 1, 2017, every ten shares of the Company’s issued and outstanding common stock (and any shares held in treasury) will automatically be combined into one share of common stock. In addition, the par value of the Company’s common stock will change from $0.001 per share to $0.01 per share. No fractional shares will be issued in connection with the reverse stock split, and stockholders who otherwise would be entitled to a fractional share will receive from the Company a cash payment in lieu thereof.

The reverse stock split and the name change are being effected to help the Company achieve its strategic goals, including aligning the Company’s European and U.S. businesses under one unified name, creating an integrated platform to support the Company’s different asset management strategies, and improving opportunities with strategic capital partners. The Company also believes that reverting to its original name reflects the historical commitment of its founders and will simplify its corporate identity.

Lester Brafman, the Company’s Chief Executive Officer, said, “In the past year, our asset management business has added institutional investors and our capital markets platform has added key financing counterparties. For example, we have grown our European insurance program (primarily through our PriDe Funds) to over €600 million of commitments and our gestational repo funding program to approximately $500 million outstanding. We continue to increase our dialogue with potential capital partners and investors and believe that these strategic actions will help to facilitate and enhance these discussions and drive continued growth of the Company’s businesses, ultimately for the benefit of all of our stockholders.”