Jensyn Acquisition Corp. Terminates Agreement with Oneness Global
by Kristi Marvin on 2018-10-10 at 9:16pm

Jensyn Acquisition Corp. announced tonight they have terminated their agreement with Oneness Global due to a breach of representations and warranties by Oneness Global.  Jensyn has further demanded to be paid the $2,500,000 termination fee provided for in the Share Exchange Agreement.

This is a tough break for Jensyn, which IPO’d back in March of 2016 with $40.4 million in trust.  Current funds in trust have been reduced to approximately $8 million, after five separate completion deadline extensions where shareholders have had the opportunity to redeem their shares.

Jensyn still has until January 3rd, 2019 to pull off a business combination, but this has to be tough and more than a little disappointing.  They still have a little less than three months left on the clock, but finding and closing a deal is going to be incredibly difficult.

The current pro rata per share redemption price is estimated to be $10.89 per share.


Recent Posts
by Marlena Haddad on 2023-12-07 at 10:38am

FG Merger III Corp. filed for a $150 million IPO yesterday afternoon, marking the third SPAC to file on Wednesday. Similar to Blue Room (NASDAQ:IBLUU), which filed its $200 million IPO yesterday morning, FG Merger III intends to focus its search for a target business in the financial services industry in North America. Notably, FG...

by Marlena Haddad on 2023-12-07 at 7:55am

10X Capital Venture Acquisition Corp. II (NASDAQ:VCXA) announced that it has completed its business combination with African Agriculture after shareholders approved the deal at a special meeting held on December 5. In connection with the meeting, 10X II received redemption requests for 1,857,033 Class A ordinary shares, representing 98.7% in aggregate redemptions since 10X II’s...

by Nicholas Alan Clayton on 2023-12-07 at 7:52am

At the SPAC of Dawn The latter half of 2023 has largely told a story of retrenchment in the SPAC market as much of the excess in the domain has found itself terminating and liquidating. But, the increase in outgoing has not completely canceled out the boom in incoming as three new SPACs filed to...

by Nicholas Alan Clayton on 2023-12-06 at 4:17pm

TechyBird Acquisition Corp. (NASDAQ:TKBD) filed for a $60 million IPO today, putting it in line to become the second 2023 IPO from an underwriter that is relatively new to the SPAC space. That underwriter, Spartan Capital Securities, brought Aimei Health Technology (NASDAQ:AFJK) to market last week with similar terms as this new member to its...

by Marlena Haddad on 2023-12-06 at 1:32pm

Blue Room Acquisition Corp. (NASDAQ:IBLUU) submitted its S-1 filing this morning for a $200 million IPO. The new SPAC has set its sights on targets in the financial sector, ranging in market value between $250 million and $500 million, and primarily situated in the U.S. Its primary objective is to identify an innovative company leveraging...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved