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Last Post: 2/24/2021 4:54:45 PM - Followers: 11 - 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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#522   Finally some movement upwards!!! Hopefully it will hold Rafa636 02/24/21 04:54:45 PM
#521   This is NOT a market correction. ISUN has Rafa636 02/23/21 04:55:09 PM
#520   Then don't buy any...I am adding on the georgie18 02/23/21 10:07:30 AM
#519   ....and the bleeding continues!!! Rafa636 02/23/21 09:32:47 AM
#518   ISUN...$12.90...in the P/M...added here... georgie18 02/23/21 07:27:44 AM
#517   We shall see... georgie18 02/19/21 04:10:26 PM
#516   georgie......Very frustrating pattern its been in. Hoping you're Rafa636 02/19/21 09:14:45 AM
#515   ISUN...$15.39...Bullish 3 Gap Downs Reversal pattern to the georgie18 02/19/21 05:36:18 AM
#514   I guess until we see a PR with Rafa636 02/17/21 08:58:54 AM
#513   What's up with this stock. All I do Moonboy1 02/16/21 07:36:08 PM
#512   Wow!...The bleeding continues! With such a low float Rafa636 02/09/21 11:50:15 AM
#511   Good luck with that theory, but I suspect barnstormer 02/08/21 11:28:33 AM
#510   Good luck with that theory, but I suspect barnstormer 02/08/21 11:28:21 AM
#509   I think that the last run was thwarted Luckypennyman 02/08/21 10:43:31 AM
#508   Any more "coiling up" and I might leap.....lol Rafa636 02/08/21 09:50:57 AM
#507   All this coiling up and then the leap! Luckypennyman 02/05/21 11:42:03 AM
#506   consolidating here , ISUN will be huge soon. maxxm 02/05/21 08:06:24 AM
#505   Yean, you are. Two PR's in the past barnstormer 02/04/21 07:32:17 PM
#504   Need a 10-k or an 8-k or just Luckypennyman 02/04/21 03:53:20 PM
#503   What's holding it back? A little thing barnstormer 02/04/21 03:44:02 PM
#502   Thought we would be ascending here, what's holding Luckypennyman 02/04/21 01:37:09 PM
#501   These aren't buys. barnstormer 02/03/21 10:44:22 AM
#500   Form 3 filled Insiders buying more and more, Luckypennyman 02/03/21 10:07:47 AM
#499   Those big buys at end of day yesterday maxxm 02/03/21 09:22:48 AM
#498   After hours took a rocket launch! Luckypennyman 02/02/21 06:12:34 PM
#497   GREAT NEWS TODAY. Luckypennyman 02/02/21 11:47:58 AM
#496   SHORTS must cover by Monday... Luckypennyman 01/30/21 10:19:18 PM
#495   New SA piece that I think, while not barnstormer 01/30/21 11:35:52 AM
#494   thanks Lucky I never saw that site before. jsc52033 01/28/21 04:48:56 PM
#493   I like Investor's hub the best. Luckypennyman 01/28/21 04:17:27 PM
#492   https://otce.finra.org/otce/equityShortInterest Well FINRA shows none but the Luckypennyman 01/28/21 04:04:22 PM
#491   thanks I never hear of the Lion jsc52033 01/28/21 03:23:31 PM
#490   I'm as white as can be. Pretty quito_yume 01/28/21 02:56:50 PM
#489   Warrants are pretty much like options, except you're barnstormer 01/28/21 02:49:03 PM
#488   Big talking on the lion... Luckypennyman 01/28/21 02:34:32 PM
#487   I have no idea about that. I buy Rafa636 01/28/21 02:33:29 PM
#486   Definitely buying. I'm also noticing the warrants quito_yume 01/28/21 02:21:12 PM
#485   ....only if you're buying....lol Rafa636 01/28/21 02:17:55 PM
#484   What's up boyz! Looks like this is quito_yume 01/28/21 02:15:47 PM
#483   Oh yeah!, I want to buy all the Luckypennyman 01/28/21 01:47:19 PM
#482   thanks I was looking at selling some of jsc52033 01/28/21 01:41:36 PM
#481   Found a tweet! Could it be......! Luckypennyman 01/28/21 12:40:56 PM
#480   I think the halt of trading a few maxxm 01/28/21 10:15:26 AM
#479   iSun Energy Announces $2.2 Million Contract for Solar Luckypennyman 01/27/21 01:41:00 PM
#478   Do you think that buying the warrants right Luckypennyman 01/27/21 01:37:41 PM
#477   i would call this consolidation but it isnt. saigai 01/27/21 11:23:50 AM
#476   anyone else having difficulty placing trade on Schwab jsc52033 01/27/21 10:46:32 AM
#475   this is going to be an epic stock maxxm 01/27/21 10:17:11 AM
#474   Doesn’t look at previous high, isun went from redrabbit 01/25/21 02:10:06 PM
#473   I don,t have an idea, could call Luckypennyman 01/25/21 02:07:56 PM
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