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Last Post: 7/12/2019 2:12:47 PM - Followers: 6 - 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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PECK News: The Peck Company Announces Satisfaction of Nasdaq Listing Requirements and Delisting of Public Warrants 07/12/2019 04:30:00 PM
PECK News: The Peck Company Announces a $17M Agreement to Construct a Portfolio of Solar Arrays Generating 7 Megawatts 06/26/2019 04:05:00 PM
PECK News: The Peck Company Provides Update on Business and Growth Strategy as Public Company 06/25/2019 08:10:00 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
#207   Nice AH news!!! BaseJumper35 06/26/19 05:36:31 PM
#206   Peck Company primarily provides EPC services to solar resx18 06/26/19 11:30:00 AM
#205   Good Morning $PECK resx18 06/26/19 07:00:47 AM
#204   Considering it was $33 last week, that’s nothing retireat40 06/25/19 07:02:09 PM
#203   building base here at these levels. developments/press from andrethegiant1 06/25/19 06:34:26 PM
#202   HOD was $9.00 ;-) $PECK resx18 06/25/19 04:02:41 PM
#201   I definitely see $15+ short term $PECK resx18 06/25/19 03:39:02 PM
#200   Found bottom it seems, volume picking up loading BaseJumper35 06/25/19 01:34:23 PM
#199   EASILY BaseJumper35 06/25/19 01:22:54 PM
#198   This could easily double from here. $PECK resx18 06/25/19 01:05:43 PM
#197   for as much loading/buying I am surprised at BaseJumper35 06/25/19 11:16:42 AM
#196   Good Morning $PECK resx18 06/25/19 07:19:09 AM
#195   This only needs to settle up, let the andrethegiant1 06/24/19 11:33:39 PM
#194   Too cheap! AD2000 06/24/19 03:23:12 PM
#193   Peck Electric Co. – the leading solar resx18 06/24/19 01:24:46 PM
#192   Picked up some more today $PECK resx18 06/24/19 01:18:19 PM
#191   the “Pecking Orders” determine the price...Many loaded above AD2000 06/24/19 09:54:46 AM
#190   High of $18 last week. Below $10 now. IPO$ 06/24/19 09:47:54 AM
#189   Good morning $PECK resx18 06/24/19 09:28:52 AM
#188   Yep, plenty of money to be made here KUMO TWIST 06/23/19 10:15:27 PM
#187   https://peckcompany.com/ CoinCounter 06/23/19 08:36:08 PM
#186   Buy Low Sell High. Drive it on down CoinCounter 06/23/19 06:38:49 PM
#185   IBM chose peck electric to wire their new andrethegiant1 06/23/19 01:07:33 PM
#184   I watched...it tanked. Any other calls for Monday Nostradamus? retireat40 06/22/19 02:59:58 PM
#183   Lol. Says the guy calling for $50-100. SMH retireat40 06/21/19 11:13:51 PM
#182   Nailed this beast $8 to $24++ yesterday pullback BERKSHIRE AGENT 06/21/19 08:51:54 PM
#181   PECK 9.17 from 33.63 [SMART MONEY] 06/21/19 07:35:12 PM
#180   It was a pump based on the merger. retireat40 06/21/19 05:52:42 PM
#179   Pump is over. Dump time!!! Ugly CannabisPower 06/21/19 04:39:38 PM
#178   Charts ugly....I’m told not everyone can get in AD2000 06/21/19 04:01:09 PM
#177   What a turd retireat40 06/21/19 04:00:15 PM
#176   You've been wrong all day... let's see Imarket13 06/21/19 03:46:28 PM
#175   It will be 15.86 after hours @ the AD2000 06/21/19 03:44:30 PM
#174   Ok head north again AD2000 06/21/19 03:15:57 PM
#173   Ok ....you son of no britches can stop AD2000 06/21/19 03:14:18 PM
#172   Load now if you are loading anymore...I picked AD2000 06/21/19 03:03:01 PM
#171   2,000,000 shares institutionaly owned. When this was $jsyn andrethegiant1 06/21/19 03:02:53 PM
#170   Closing down over 30% from day before is Imarket13 06/21/19 02:56:57 PM
#169   Closes above 12 all is well....probably close about AD2000 06/21/19 02:55:58 PM
#168   If this doesnt close green or atleast above Imarket13 06/21/19 02:21:24 PM