Cohen & Co. LLC, which was rebranded as IFMI LLC, entered into a letter agreement with Sandler O'Neill & Partners LP.
Under the pact, Sandler O'Neill will buy up to $2 million of Cohen & Company Inc.'s common stock on IFMI's behalf. The purchases will begin March 19 and end no later than March 19, 2019. The agreement is linked to Cohen & Co. Inc.'s existing repurchase plan.
IFMI is a majority-owned subsidiary of Cohen & Co. Inc.