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Last Post: 7/29/2020 1:49:20 PM - Followers: 5 - Board type: Free - Posts Today: 0

Jensyn Acquisition Corp. Stockholders Approve Business Combination with Peck Electric Co.

Freehold, New Jersey, June 19, 2019 (GLOBE NEWSWIRE) -- Jensyn Acquisition Corp. (NASDAQ: JSYN) (“Jensyn”), a Special Purpose Acquisition Company (SPAC) and Peck Electric Co., a leading commercial solar engineering, procurement and construction (EPC) company, today announced that the business combination was overwhelmingly approved by Jensyn’s stockholders. The transaction is expected to close on June 20, 2019 subject to the satisfaction of customary closing conditions.

At the Special Meeting, more than 87% of the issued and outstanding shares which voted were in favor of the business combination.

Upon the closing of the business combination, the stockholders of Peck Electric Co. will exchange their shares in Peck Electric Co. for 3,234,501 shares of Jensyn common stock representing approximately 59% of Jensyn’s outstanding shares after giving effect to the business combination. In addition, the stockholders of Peck Electric Co. will be entitled to an additional 898,473 shares of Jensyn common stock if Jensyn’s adjusted EBITDA is $5,000,000 or more for the twelve-month period following the closing of the business combination or the closing price of Jensyn’s common stock is $12.00 or more at any time during such twelve-month period.

Consistent with the terms of the business combination, at the closing, Peck Electric Co. will become a wholly-owned subsidiary of Jensyn that will be named “The Peck Company Holdings, Inc.” (“Peck”) whose common stock is expected to be listed on The Nasdaq Capital Market under the symbol "PECK.”

Commenting on the vote from Peck Electric Co., Jeffrey Peck, Chief Executive Officer stated: “Today marks an exciting and important milestone for Peck Electric, as stockholders of Jensyn approved the business combination.  We believe this approval reflects their recognition and understanding of our history of profitable growth and that we are uniquely positioned to bring more clean, renewable energy online and capitalize on the significant growth opportunities across the Northeast and other key solar installation markets.  We look forward to executing on our growth strategy as a publicly traded company and delivering profitable growth to our stockholders.”

Remarking from Jensyn, Jeffrey J. Raymond, President, CEO and Director, stated: “We are very pleased to announce stockholders’ approval of our business combination with Peck Electric Co. – the leading solar EPC in the Northeast and one of the largest in the U.S.  Peck Electric has installed some of the largest commercial and utility-scale solar arrays in the state of Vermont and is poised to scale its profitable business through rapid expansion to other states throughout the Northeast.  We look forward to partnering with Peck Electric as a publicly traded company and helping them achieve their business objectives and deliver shareholder value.”

The senior management of Peck will replace Jensyn’s existing management team following the closing of the business combination. Jeff Peck will serve as the Company’s CEO. 

About Peck Electric Co.

Headquartered in South Burlington, VT, Peck Electric Co. is a 2nd-generation family business founded in 1972 and rooted in values that align people, purpose, and profitability. Ranked by Solar Power World as the largest commercial solar contractor in the Northeast and one of the largest in U.S., Peck Electric Co. provides engineering, procurement and construction (EPC) services to solar energy customers for projects ranging in size from several kilowatts for residential loads to multi-megawatt systems for large commercial and public works projects. Peck Electric Co. has installed over 100MW of solar systems since inception and is focused on profitable growth opportunities. Please visit www.peckelectric.com for additional information.

About Jensyn Acquisition Corp.

Jensyn Acquisition Corp. is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.

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#257   Best play on the board, out of all Gold9897 07/29/20 01:49:19 PM
#256   What is the float? IPO$ 05/13/20 04:45:06 PM
#255   * * $PECK Video Chart 04-22-2020 * * ClayTrader 04/22/20 06:35:45 PM
#254   This one is dying a slow death Pickthepenny 02/20/20 04:21:26 PM
#253   * * $PECK Video Chart 01-15-2020 * * ClayTrader 01/15/20 05:25:41 PM
#252   $peck bids were higher ah then closing price..look chris20 01/14/20 09:39:18 PM
#251   $peck surging higher..could see $5 by the close.. chris20 01/14/20 03:09:01 PM
#250   $peck..4.10..just getting going here.. chris20 01/14/20 12:15:58 PM
#249   $peck shares getting ,scooped up this morning... chris20 01/14/20 09:47:19 AM
#248   $peck..steady buying all day today..really love what I chris20 01/13/20 01:29:24 PM
#247   $peck..strong buys hitting now... chris20 01/13/20 10:00:13 AM
#246   Strong start for $peck today.. chris20 01/13/20 09:32:53 AM
#245   $peck..3.68 premarket..could run hard today... chris20 01/13/20 08:19:17 AM
#244   Good morning PECK ! Looking at 3.50-4.00 today homeboy4u 01/13/20 07:02:48 AM
#243   Twitter continues to light it up about $peck..thinking chris20 01/12/20 01:24:38 PM
#242   Anyone else notice $peck has been walked down chris20 01/12/20 08:43:51 AM
#241   Last weeks news for $peck was very telling..points chris20 01/12/20 07:55:47 AM
#240   I agree. $PECK is without question the one resx18 01/12/20 07:51:00 AM
#239   A lot of people talking about $peck this chris20 01/12/20 07:50:02 AM
#238   Looks that way homeboy..$peck chart is primed and ready... chris20 01/11/20 08:33:31 PM
#237   Sure looks like it has found it’s bottom homeboy4u 01/11/20 04:56:10 PM
#236   $peck shaping up for a strong move higher chris20 01/11/20 03:48:59 PM
#235   Lots of chatter picking up on Twitter about chris20 01/11/20 11:44:52 AM
#234   You have to eat a PECK of dirt willlbone 01/10/20 10:52:53 AM
#233   $peck...load the cheapies everyone..huge revenues just the beginning here... chris20 01/10/20 09:45:15 AM
#232   $PECK: Took profits.... at $5 makinezmoney 11/25/19 03:37:35 PM
#231   Nothing new mentioned in public venue, this stock swampboots 11/25/19 02:24:58 PM
#230   In 2.66 Gcasa 11/25/19 02:11:31 PM
#229   Why the pop this morning...new contract? crudeoil24 11/25/19 10:24:07 AM
#228   Nice will mark you to follow your other swampboots 11/25/19 10:23:36 AM
#227   Been loading $PECK for weeks! resx18 11/25/19 10:16:30 AM
#226   PECK_Great call 5.43! swampboots 11/25/19 10:05:54 AM
#225   $PECK : This SPAC is about to bounce makinezmoney 11/22/19 07:54:02 AM
#224   Good Morning $PECK resx18 11/21/19 08:57:12 AM
#223   $PECK is on fire! #SolarPower resx18 11/15/19 01:28:20 PM
#222   Nice Day $PECK resx18 11/14/19 04:01:26 PM
#221   Good Morning $PECK resx18 11/05/19 08:11:44 AM
#220   SOUTH BURLINGTON, Vt.--(BUSINESS WIRE)-- resx18 10/30/19 03:05:37 PM
#219   Good Morning $PECK resx18 10/28/19 09:10:01 AM
#218   $PECK “We are constructing our energy future, having resx18 10/23/19 12:16:26 AM
#217   Dilution day??? Roadtojourney 07/12/19 02:12:47 PM
#216   Moving?? Roadtojourney 07/12/19 10:35:06 AM
#215   Glad I reloaded past few days... this will BaseJumper35 07/05/19 10:12:55 AM
#214   Uptrend and macd starting to trend up. $10 andrethegiant1 06/27/19 07:59:53 PM
#213   Peck will be heavy in the M&A space andrethegiant1 06/26/19 07:13:03 PM
#212   They have to pay $11.50 per share for BaseJumper35 06/26/19 05:50:19 PM
#211   https://www.otcmarkets.com/stock/PECK/news/story?e&id=1385231 Let’s Go! Chefred69 06/26/19 05:40:24 PM
#210   https://www.otcmarkets.com/stock/PECK/news/story?e&id=1385231 Let’s Go! Chefred69 06/26/19 05:40:07 PM
#209   https://www.otcmarkets.com/stock/PECK/news/story?e&id=1385231 Let’s Go! Chefred69 06/26/19 05:39:46 PM
#208   https://www.otcmarkets.com/stock/PECK/news/story?e&id=1385231 Let’s Go! Chefred69 06/26/19 05:39:34 PM
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