June 30, 2017 / 12:33 PM / a year ago

BRIEF-JH Capital Group Holdings LLC to become public company through a combination with Easterly Acquisition Corp

June 30 (Reuters) - Easterly Acquisition Corp

* JH Capital Group Holdings, LLC to become public company through a combination with Easterly Acquisition Corp.

* Easterly Acquisition Corp - Entered into a definitive investment agreement, whereby easterly will acquire JH Capital and be renamed JH Capital Group Holdings, Inc.​

* Says transaction has been unanimously approved by board of directors of easterly and JH Capital's equity holders

* Easterly Acquisition Corp - ‍JH Capital's management team will remain with JH Capital Inc​

* Easterly Acquisition - Current owners of JH Capital will retain substantial equity stake in JH Capital Inc

* Easterly Acquisition Corp - ‍Once transaction is closed, JH Capital Inc. will be led by Norman Kravetz as chairman, Douglas Jacobsen as CEO

* Easterly Acquisition Corp - Current owners of JH Capital are not selling any of their shares as part of transaction

* Easterly Acquisition Corp - ‍JH Capital's existing stockholders will roll all their existing equity into JH Capital Inc. and retain about 45.4% ownership​

* Easterly - ‍$200 million contained in co's trust account will be used following closing by JH Capital to "grow business and to repay existing subordinated debt​"

* Easterly Acquisition Corp - ‍upon completion of transaction, JH Capital Inc. will trade on Nasdaq Stock Exchange under ticker symbol "JHCG."​

* Easterly Acquisition Corp - ‍easterly will acquire a controlling equity interest in JH Capital​ Source text for Eikon: Further company coverage:

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