On April 15, 2015, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with EFactor Merger Sub Inc., a New York corporation and our wholly owned subsidiary (“Merger Sub”), RocketHub Inc., a New York corporation (“RocketHub”), the shareholders of RocketHub (the “Sellers”) and Eric Schneider in his capacity thereunder as the representative of the Sellers (the “Seller Representative”). Pursuant and subject to the terms and conditions of the Merger Agreement, Merger Sub was merged with and into RocketHub, with RocketHub surviving as our wholly owned subsidiary (the “Merger”). The Merger was closed simultaneously with the execution of the Merger Agreement, on April 15, 2015. As consideration for the Merger, the Sellers received 357,143 shares of our common stock, at a purchase price of $42.00 per share, for an aggregate purchase price valued at $15 million.