Jensyn Acquisition Corp. Announces a New Business Combination at the 13th Hour.

news update

Jensyn Acquisition Corp. Announces a New Business Combination at the 13th Hour.

Aug 15, 2018 INTEL by Kristi Marvin

Jensyn Acquisiton Corp., in an surprise move after releasing their definitive proxy statement this morning to extend their completion date to January 3, 2019, released ANOTHER statement shortly before the closing bell.  The second statement was to announce they have entered into a definitive agreement to enter into a business combination with Oneness Global, an e-commerce company based in China that operates under the name “HEFA Global.”

The filed statement adds:

“HEFA Global is an e-commerce company based in China that has developed a “shared and collaborative commerce” platform with a focus on wellness, health and beauty products and hotel booking and shared rentals. HEFA Global’s mobile platform offers a comprehensive selection of attractively priced merchandise and features a dynamic social shopping experience that leverages social networks as an effective and efficient tool for buyer and merchant acquisition and engagement in an eco-system. Its business model enables its Registered Merchant (RM) networks to become powerful distribution channels for its products and services through their direct sales and social media networks. As a result of its innovative business model, HEFA Global has been able to quickly expand its buyer base and establish brand recognition and market position.”

There hasn’t been any additional information released so it’s hard to parse the above, but wellness, health, beauty, hotel bookings and shared rentals seems….like a lot to understand for a business model.  I’m hoping further information releases will clear some of those things up.

As a reminder, Jensyn currently has an estimated $8.9 million left in trust, or approximately $10.80 per share.