Attached files

file filename
EX-4.3 - EXHIBIT 4.3 - ISUN, INC.s102777_ex4-3.htm
EX-4.2 - EXHIBIT 4.2 - ISUN, INC.s102777_ex4-2.htm
EX-1.1 - EXHIBIT 1.1 - ISUN, INC.s102777_ex1-1.htm
EX-3.1 - EXHIBIT 3.1 - ISUN, INC.s102777_ex3-1.htm
EX-4.1 - EXHIBIT 4.1 - ISUN, INC.s102777_ex4-1.htm
EX-10.2 - EXHIBIT 10.2 - ISUN, INC.s102777_ex10-2.htm
EX-99.3 - EXHIBIT 99.3 - ISUN, INC.s102777_ex99-3.htm
EX-99.1 - EXHIBIT 99.1 - ISUN, INC.s102777_ex99-1.htm
EX-10.5 - EXHIBIT 10.5 - ISUN, INC.s102777_ex10-5.htm
EX-99.2 - EXHIBIT 99.2 - ISUN, INC.s102777_ex99-2.htm
EX-10.1 - EXHIBIT 10.1 - ISUN, INC.s102777_ex10-1.htm
EX-10.4 - EXHIBIT 10.4 - ISUN, INC.s102777_ex10-4.htm
EX-10.6 - EXHIBIT 10.6 - ISUN, INC.s102777_ex10-6.htm
EX-10.3D - EXHIBIT 10.3D - ISUN, INC.s102777_ex10-3d.htm
EX-10.3C - EXHIBIT 10.3C - ISUN, INC.s102777_ex10-3c.htm
EX-10.3B - EXHIBIT 10.3B - ISUN, INC.s102777_ex10-3b.htm
EX-10.3F - EXHIBIT 10.3F - ISUN, INC.s102777_ex10-3f.htm
EX-10.3H - EXHIBIT 10.3H - ISUN, INC.s102777_ex10-3h.htm
EX-10.3E - EXHIBIT 10.3E - ISUN, INC.s102777_ex10-3e.htm
EX-10.3G - EXHIBIT 10.3G - ISUN, INC.s102777_ex10-3g.htm
EX-10.3A - EXHIBIT 10.3A - ISUN, INC.s102777_ex10-3a.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

  

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 2, 2016

  

Jensyn Acquisition Corp.

(Exact name of registrant as specified in its charter)

  

Delaware 001-37707 47-2150172
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

 

800 West Main Street, , Suite 204, Freehold, New Jersey 07728
(Address of principal executive offices, including Zip Code)

 

(888) 536-7965

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

Item 1.01.  Entry into a Material Definitive Agreement.

 

On March 2, 2016, the Registration Statement on Form S-1 (File No. 333-208159) (the “Registration Statement”) for Jensyn Acquisition Corp.’s (the “Company”) initial public offering (“IPO”) was declared effective by the U.S. Securities and Exchange Commission.   In connection therewith and the closing of the IPO, the Company entered into the following agreements previously filed as exhibits to the Registration Statement:

 

An Underwriting Agreement, dated March 2, 2016, between the Company and Chardan Capital Markets, LLC, as representative of the underwriters (“Chardan”), a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K;

 

A Warrant Agreement, dated March 2, 2016, between the Company and Continental Stock Transfer & Trust Company, a copy of which is filed as Exhibit 4.1 to this Current Report on Form 8-K;

 

A Rights Agreement, dated March 2, 2016, between the Company and Continental Stock Transfer & Trust Company, a copy of which is filed as Exhibit 4.2 to this Current Report on Form 8-K;

 

An Investment Management Trust Agreement, dated March 2, 2016, between the Company and Continental Stock Transfer & Trust Company, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K;

 

A Registration Rights Agreement, dated March 2, 2016, between the Company and certain stockholders of the Company, a copy of which is filed as Exhibit 10.2 to this Current Report on Form 8-K;

 

Letter Agreements between the Company and the officers, directors and certain stockholders of the Company, copies of which are filed as Exhibits 10.3(a)-(h) to this Current Report on Form 8-K; and

 

A Stock Escrow Agreement, dated March 2, 2016, among the Company, certain stockholders of the Company and Continental Stock Transfer & Trust Company, a copy of which is filed as Exhibit 10.4 to this Current Report on Form 8-K.

 

On March 7, 2016, the Company consummated its IPO of 3,900,000 units (“Units”). Each Unit consists of one share of common stock, $0.0001 par value per share (“Common Stock”), one right (“Right”) to purchase one-tenth (1/10) of one share of Common Stock upon consummation of an initial business combination (a “Business Combination”) and one warrant (“Warrant”) to purchase one-half of one share of Common Stock at an exercise price of $11.50 per full share.  The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $39,000,000.

 

Item 3.02.  Unregistered Sales of Equity Securities.

 

Simultaneously with the consummation of the IPO, the Company consummated the private placement (“Private Placement”) of 275,000 units to Jensyn Capital, LLC and 19,500 units to Chardan at a price of $10.00 per Private Unit, generating total proceeds of $2,945,000.  The units issued to Jensyn Capital, LLC and Chardan (the “Private Units”) consist of one share of Common Stock (“Private Shares”), one right (“Private Right”) to purchase one-tenth (1/10) of one share of Common Stock upon consummation of a Business Combination and one warrant (“Private Warrant”) to purchase one-half of one share of Common Stock at an exercise price of $11.50 per full share. Copies of the purchase agreements relating to the Private Units are filed as Exhibit 10.5 and 10.6, respectively, to this Current Report on Form 8-K.

 

The Private Units are identical to the Units, however Jensyn Capital, LLC has agreed (A) to vote its Private Shares and any shares of Common Stock acquired in or after the IPO in favor of any proposed Business Combination, (B) not to propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to redeem 100% of the shares of Common Stock issued in the IPO (“Public Shares”) if it does not complete a Business Combination within 18 months from the closing of the IPO (or up to 24 months, if the Company extends the period during which it must complete a Business Combination in accordance with the terms of its Amended and Restated Certificate of Incorporation), unless the Company provides its public stockholders with the opportunity to redeem their Public Shares in accordance with the Company’s Amended and Restated Certificate of Incorporation, (C) not to convert any shares (including the Private Shares) into the right to receive cash from the Trust Account in connection with a stockholder vote to approve a proposed Business Combination or a vote to amend the provisions of the Company’s Amended and Restated Certificate of Incorporation relating to the substance or timing of the Company’s obligation to redeem 100% of the Public Shares if it does not complete a Business Combination within the required timeframe and (D) that the Private Shares will not be entitled to be redeemed for a pro rata portion of the funds held in the Trust Account if a Business Combination is not consummated. Additionally, subject to certain limited exceptions, the Private Units, including the underlying securities, will be subject to certain restrictions on transfer until after the Company completes a Business Combination.

 

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In connection with the IPO, the Company also agreed to sell to Chardan (and/or its designees), for $100, an option to purchase up to a total of 390,000 Units exercisable at $10.00 per Unit commencing on the later of the consummation of a Business Combination and six months from the date of the prospectus relating to the IPO. Since the option is not exercisable until at the earliest the consummation of a Business Combination, and the Rights included in the Units will automatically entitle the holder to receive shares of Common Stock upon consummation of a Business Combination, the option will effectively represent the right to purchase 429,000 shares of Common Stock (which includes the 39,000 shares of Common Stock which will be issued for the Rights included in the Units) for $3,900,000 and 390,000 Warrants to purchase 195,000 shares of Common Stock at $11.50 per full share. A copy of the option is filed as Exhibit 4.3 to this Current Report on Form 8-K.

 

An audited balance sheet as of March 7, 2016 reflecting receipt of the proceeds received by the Company in connection with the closing of the IPO and the Private Placement has been issued by the Company and is included as Exhibit 99.1 on this Current Report on Form 8-K.

 

Item 5.03.  Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal Year.

 

On March 1, 2016, the Company filed its Amended and Restated Certificate of Incorporation in the State of Delaware.  The terms of the foregoing are set forth in the Registration Statement and are incorporated herein by reference.

 

Item 8.01.  Other Events.

 

A total of $40,365,000 of the net proceeds from the IPO and the Private Placement were placed in a trust account established for the benefit of the Company’s public stockholders at JP Morgan Chase Bank, N.A. (the “Trust Account”), with Continental Stock Transfer & Trust Company acting as trustee. Except for the withdrawal of interest to pay the Company’s franchise and income taxes, none of the funds held in the Trust Account will be released until the earlier of the completion of a Business Combination or the redemption of 100% of the Public Shares if the Company is unable to consummate a Business Combination within the required timeframe.

 

Copies of the press releases issued by the Company announcing the effectiveness of the Registration Statement and consummation of the IPO are included as Exhibits 99.2 and 99.3, respectively, to this Current Report on Form 8-K.

 

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Item 9.01.  Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit
No.
  Description
1.1   Underwriting Agreement.
     
3.1   Amended and Restated Certificate of Incorporation.
     
4.1   Warrant Agreement by and between Continental Stock Transfer & Trust Company and the Company.
     
4.2   Rights Agreement by and between Continental Stock Transfer & Trust Company and the Company.
     
4.3   Unit Purchase Option between the Company and Chardan Capital Markets, LLC.
     
10.1   Investment Management Trust Agreement by and between Continental Stock Transfer & Trust Company and the Company.
     
10.2   Registration Rights Agreement between the Company and certain stockholders of the Company.
     
10.3(a)   Letter Agreement between the Company and Jeffrey J. Raymond.
     
10.3(b)   Letter Agreement between the Company and Rebecca Irish.
     
10.3(c)   Letter Agreement between the Company and Joseph J. Raymond.
     
10.3(d)   Letter Agreement between the Company and Peter Underwood.
     
10.3(e)   Letter Agreement between the Company and Philip Politziner.
     
10.3(f)   Letter Agreement between the Company and Joseph Anastasio.
     
10.3(g)   Letter Agreement between the Company and Richard C. Cook.
     
10.3(h)   Letter Agreement between the Company and Jensyn Capital, LLC.
     
10.4   Stock Escrow Agreement among the Company, certain stockholders of the Company and Continental Stock Transfer & Trust Company.
     
10.5   Private Units Purchase Agreement between the Company and Jensyn Capital, LLC.
     
10.6   Private Units Purchase Agreement between the Company and Chardan Capital Markets, LLC.
     
99.1   Audited Balance Sheet
     
99.2   Press Release Announcing Pricing of IPO.
     
99.3   Press Release Announcing Closing of IPO.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: March 10, 2016

 

  Jensyn Acquisition Corp.  
       
  By: /s/ Jeffrey J. Raymond  
    Jeffrey J. Raymond  
    President and Chief Executive Officer  

 

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EXHIBIT INDEX

  

Exhibit
No.
  Description
1.1   Underwriting Agreement.
     
3.1   Amended and Restated Certificate of Incorporation.
     
4.1   Warrant Agreement by and between Continental Stock Transfer & Trust Company and the Company.
     
4.2   Rights Agreement by and between Continental Stock Transfer & Trust Company and the Company.
     
4.3   Unit Purchase Option between the Company and Chardan Capital Markets, LLC.
     
10.1   Investment Management Trust Agreement by and between Continental Stock Transfer & Trust Company and the Company.
     
10.2   Registration Rights Agreement between the Company and certain stockholders of the Company.
     
10.3(a)   Letter Agreement between the Company and Jeffrey J. Raymond.
     
10.3(b)   Letter Agreement between the Company and Rebecca Irish.
     
10.3(c)   Letter Agreement between the Company and Joseph J. Raymond
     
10.3(d)   Letter Agreement between the Company and Peter Underwood.
     
10.3(e)   Letter Agreement between the Company and Philip Politziner.
     
10.3(f)   Letter Agreement between the Company and Joseph Anastasio.
     
10.3(g)   Letter Agreement between the Company and Richard C. Cook.
     
10.3(h)   Letter Agreement between the Company and Jensyn Capital, LLC.
     
10.4   Stock Escrow Agreement among the Company, certain stockholders of the Company and Continental Stock Transfer & Trust Company.
     
10.5   Private Units Purchase Agreement between the Company and Jensyn Capital, LLC.
     
10.6   Private Units Purchase Agreement between the Company and Chardan Capital Markets, LLC.
     
99.1   Audited Balance Sheet
     
99.2   Press Release Announcing Pricing of IPO.
     
99.3   Press Release Announcing Closing of IPO.

 

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