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Jensyn Acquisition (JSYN) Proposes Extension to July 2019


Jensyn Acquisition (JSYN) Proposes Extension to July 2019

Jensyn Acquisition Corp. (JSYN), filed a preliminary proxy late Friday, for a new shareholder vote to extend their termination date by 180 days.   Jensyn is currently set to expire on January 3rd, 2019, but if the extension is approved, they will have until July 2, 2019 to complete an acquisition.

Jensyn, which IPO’d back in March of 2016 raising $40.4 million in gross proceeds, is down to just $8,029,900 cash held in trust as of November 30, 2018.  And that’s before any additional redemptions at the newly scheduled shareholder vote. This will be Jensyn’s sixth deadline extension and they are estimating the current per share redemption price to be $11.00 per share.

The record date for the meeting is December 10, 2018 and the shareholder vote will take place on January 2, 2019.