At the vote, 186,085 shares exercised their right to redeem at a redemption price of approximately $11.01 per share, for an aggregate redemption amount of approximately $2,049,380. Jensyn, which IPO’d back in March of 2016 raising $40.4 million in gross proceeds, was down to just $8,029,900 cash held in trust as of November 30, 2018. Post today’s redemptions, their new cash in trust value is approximately $6.0 million.
Additionally, beginning January 4th, Jensyn has agreed to contribute to the trust $.05 per month for each public share that did not redeem. at today’s vote. This means that if a business combination is not completed by July 2, 2019, the pro rata per-share trust value could potentially be $11.30 at July 2, 2019.
Below are the results of the vote.