Cohen & Company Inc. reports news on a financial services business centered on capital markets, fixed-income trading, investment banking and asset management. Company updates commonly cover quarterly results, dividend actions, investment banking and new issue revenue, mortgage, SPAC equity and SBA trading activity, and performance in managed funds and other asset management vehicles.
Recurring developments also include Cohen & Company Capital Markets advisory expansion, sector coverage hires, European insurance regulatory-capital funds such as the PriDe program, and sponsored-SPAC activity involving the company’s operating subsidiary and broker-dealer platform.
Cohen & Company (COHN) reported third-quarter 2026 net income attributable to the company of $6.7 million, higher than a year earlier. Fully diluted earnings fell to $0.12 per share from $2.58 in the prior-year quarter and $0.94 in the second quarter. Revenue declined to $32.441 million from $84.213 million a year earlier and $69.487 million sequentially.
Investment banking and new issue revenue included $17.6 million of mark-to-market losses, versus $26.0 million of gains in the prior quarter. Adjusted pre-tax income, a non-GAAP measure, fell to $648,000 from $16.375 million a year earlier. A $6.264 million income tax benefit supported earnings. CCM raised $1.8 billion for clients through underwriting, and the gestation repo financing book reached $4.5 billion. The board declared a $0.25 quarterly dividend, payable December 14, 2026, to holders of record November 30. Daniel G. Cohen was appointed CEO.
Cohen & Company (NYSE American: COHN) appointed Daniel G. Cohen chief executive officer, effective November 10, 2026, succeeding Lester R. Brafman.
Cohen will continue as Executive Chairman. Brafman stepped down at the close of business on November 10 and will remain a Senior Advisor through November 30, 2026, to support the transition. Cohen previously served as chief executive officer and chief investment officer from December 2009 to September 2013. He has served on the board since 1999 and as Executive Chairman since May 2022. His CEO responsibilities will focus on business strategy, operations and corporate vision.
Cohen & Company (COHN) will release its third-quarter 2026 financial results on November 12, 2026. The results cover the quarter ended September 30, 2026. A conference call to discuss the results will begin at 10:00 a.m. Eastern Time that day and will be available via webcast through the company’s website.
Elroy Air has named Jeremy Hux chief financial officer, effective immediately, as it prepares to become publicly traded. Hux will oversee capital markets, financial reporting, accounting and treasury, and help guide strategy as the company prepares to scale Chaparral cargo-drone production. He most recently served as CFO of UPSIDE Foods.
Elroy Air recently received a multi-year U.S. Army contract worth up to $46 million and flew an autonomous drone in the National Airspace System under the federal eVTOL Integration Pilot Program this summer. In June, it entered a definitive business combination agreement with Inflection Point Acquisition Corp. VII (IPXG). The companies expect the transaction to close in the fourth quarter of 2026, subject to regulatory and shareholder approval and customary closing conditions.
Cohen & Company (COHN) has launched a dedicated private credit advisory practice through its Cohen & Company Capital Markets division. The practice provides middle-market companies with debt financing advice alongside the division's existing merger and acquisition advisory and public and private capital-raising services.
Daniel Sheriff was appointed Managing Director, Head of Private Credit, and Christian Watson Director of Private Credit. The company says the practice is designed to help clients evaluate financing alternatives for growth, acquisitions, recapitalizations and refinancing.
Elroy Air increased its PIPE investment commitments to $175 million on September 24, 2026, ahead of its planned combination with Inflection Point (IPXG).
A PIPE is a private investment in public equity. Of the committed amount, $75 million has been funded before the combination closes. Existing investors Lockheed Martin Ventures and Inflection Point participated. The combination will be submitted to Inflection Point shareholders for a vote. Elroy Air has also been awarded a multiyear U.S. Army contract worth up to $46 million for work on its Chaparral cargo drone. Bristow reserved 10 more early delivery positions, bringing its total to 15. Kratos plans to produce the first aircraft in late 2026. Elroy Air also completed autonomous, uncrewed flights authorized under the FAA’s eVTOL Integration Pilot Program.
Elroy Air announced that Bristow Group (VTOL) reserved 10 additional early delivery positions for its Chaparral autonomous cargo aircraft, bringing Bristow’s total to 15.
Bristow had already secured early delivery slots for five Chaparral drones and announced a pre-order agreement for up to 100 aircraft. The expanded reservation follows autonomous, uncrewed Chaparral flight demonstrations in Houma, Louisiana under the FAA and U.S. Department of Transportation’s eVTOL Integration Pilot Program. Chaparral is an uncrewed VTOL cargo aircraft designed to carry 500+ pounds up to 450 miles without runways or charging infrastructure, using a hybrid-electric powertrain and interchangeable pods.
Kratos Defense & Security Solutions will serve as exclusive U.S. manufacturer of Chaparral at its Sacramento, California facility, with first production aircraft planned for late 2026. Elroy Air also disclosed a definitive business combination agreement with Inflection Point Acquisition Corp. VII (Nasdaq: IPXG), sponsored by a team including Cohen & Company (COHN), through which Elroy Air is expected to become publicly traded, subject to SEC review and IPAC shareholder approval.
Elroy Air completed the first uncrewed, autonomous cargo flights authorized under the U.S. DOT and FAA’s eVTOL Integration Pilot Program (eIPP) at Houma–Terrebonne Airport in Louisiana. The week-long August campaign used the Chaparral hybrid-electric VTOL aircraft to move varied cargo under air traffic control oversight.
Chaparral can carry over 500 lbs of payload with a range of up to 450 miles and, according to the company, is the only purpose-built heavy-payload cargo drone in the eIPP. The flights were conducted with LIFTOFF Louisiana and Bristow Group to demonstrate commercial readiness for Gulf Coast logistics. Elroy Air reports a commercial demand pipeline exceeding 1,400 aircraft, representing more than $5 billion in potential revenue. Kratos Defense & Security Solutions will be the exclusive U.S. manufacturer, targeting first production aircraft in late 2026. Elroy Air has also signed a definitive business combination agreement with Inflection Point Acquisition Corp. VII (Nasdaq: IPXG), sponsored by a team including Cohen & Company (NYSE American: COHN), to become publicly traded.
Columbus Circle Capital Corp II (Nasdaq: CMII), which will be renamed Inflection Point Acquisition Corp VII (IPAC), announced that Elroy Air received a $46,058,871 firm-fixed-price U.S. Army contract to develop an autonomous hybrid-electric VTOL uncrewed aircraft system for modular multi-mission payload delivery. Work will be performed in California with an estimated completion in 2029, and $5,135,354 of Fiscal Year 2026 RDT&E funds were obligated at award.
The contract supports Elroy Air’s Chaparral heavy-cargo VTOL drone, designed to carry 500+ pounds up to 450 miles using a hybrid-electric powertrain. CMII previously announced a definitive business combination agreement under which Elroy Air will go public at an $800 million pre-money valuation and about $1.0 billion enterprise value. The deal includes more than $165 million in committed PIPE capital, of which $65 million was funded at signing, and is expected to close in Q4 2026, subject to customary approvals. The combined company plans to trade on Nasdaq as “ELRY.”
Elroy Air, a U.S. developer of autonomous heavy‑cargo drones, announced a $46 million multi‑year contract with the U.S. Army to develop an autonomous hybrid‑electric VTOL uncrewed aircraft system for modular multi‑mission payload delivery.
The program will enhance the Chaparral drone’s payload versatility, delivery mechanisms and battlefield-enabling technologies, including expeditionary mission planning, cyber‑protected communications, GPS‑denied navigation, elevated autonomy and reliable field operation. Elroy Air plans to begin U.S. manufacturing of Chaparral this year via an exclusive partnership with Kratos Defense & Security Solutions (Nasdaq: KTOS). The company has also signed a definitive business combination agreement with Columbus Circle Capital Corp II (Nasdaq: CMII), to be renamed Inflection Point Acquisition Corp VII (Nasdaq: IPXG), under which Elroy Air would become a publicly traded company, with a draft Form S‑4 registration statement confidentially submitted to the SEC.