Hennessy Capital Acquisition (HCAC) Reports Termination of Merger Agreement with USI

October 4, 2016 5:29 PM EDT

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

Hennessy Capital Acquisition Corp. II (NASDAQ: HCAC) announced today that the Company and USI Senior Holdings, Inc. (“USI”) have mutually agreed to terminate the Company’s definitive merger agreement to acquire all of the outstanding capital stock of USI, which, through its subsidiaries, conducts its business under the “USI” name. The termination of the merger agreement is effective as of October 4, 2016.

“While we are disappointed by the outcome with USI, we remain highly optimistic and enthusiastic about potential acquisition opportunities in our pipeline,” said Daniel J. Hennessy, the Company’s Chairman and Chief Executive Officer. “The HCAC management team is already actively engaged in evaluating and pursuing other potential business combination opportunities consistent with our stated investment strategy.”

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News, Mergers and Acquisitions, Trading Halts

Related Entities

Definitive Agreement

Add Your Comment