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Easterly Acquisition, JH Capital in talks to terminate deal


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Easterly Acquisition, JH Capital in talks to terminate deal

Easterly Acquisition Corp. and JH Capital Group Holdings LLC are in talks to terminate an investment agreement dated June 28, 2017.

The deal involves Easterly Acquisition buying a controlling stake in the specialty finance business and renaming it to JH Capital Group Holdings Inc. The deadline to complete the merger agreement was delayed numerous times before the two companies secured financing for the deal.

The special purpose acquisition company also notified the SEC that it will be late in filing its quarterly report on Form 10-Q for the quarter ended March 31, indicating that it will make the regulatory filing on or before the fifth calendar day following the prescribed due date of May 10.

Easterly Acquisition said it must complete an initial business combination before June 30, or cease all operations, redeem its common shares and dissolve and liquidate its remaining assets to its creditors and remaining shareholders.

In the event of Easterly Acquisition's liquidation, its outstanding warrants will expire worthless.