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Tuesday, June 16, 2020

Equity Corporate Actions Alert #2020 - 108
Information Regarding the Business Combination of Proficient Alpha Acquisition Corp. (PAAC/R/W/U) and Lion Group Holding Ltd

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  • Industry Announcement

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The business combination of Proficient Alpha Acquisition Corp. (PAAC/R/W/U) and Lion Group Holding Ltd became effective today, June 16, 2020. As a result of this transaction the common stock (PAAC), rights (PAACR), warrants (PAACW), and units (PAACU) will be suspended from trading. The suspension details are as follows:

Company/Issue: Proficient Alpha Acquisition Corp. Common Stock
CUSIP#: 74317H105
Symbol: PAAC
Last Date of Trading: June 16, 2020
Marketplace Effective Date for Suspension: June 17, 2020
Merger Consideration: One (1) Lion Group Holding Ltd. American Depositary Share representing a Class A Ordinary Share (LGHL) for each share held.
Company/Issue: Proficient Alpha Acquisition Corp. Warrant
CUSIP#: 74317H113
Symbol: PAACW
Last Date of Trading: June 16, 2020
Marketplace Effective Date for Suspension: June 17, 2020
Merger Consideration: One (1) Lion Group Holding Ltd. Warrant to purchase American Depositary Shares (LGHLW) for each warrant held.
Company/Issue: Proficient Alpha Acquisition Corp. Rights
CUSIP#: 74317H121
Symbol: PAACR
Last Date of Trading: June 16, 2020
Marketplace Effective Date for Suspension: June 17, 2020
Merger Consideration: Each right will be exercised in accordance with its terms and holders will receive the appropriate amount of Lion Group Holding Ltd American Depositary Shares
Company/Issue: Proficient Alpha Acquisition Corp. Units
CUSIP#: 74317H204
Symbol: PAACU
Last Date of Trading: June 16, 2020
Marketplace Effective Date for Suspension: June 17, 2020
Merger Consideration: Each unit will be separated into its components.

As a result of the merger the combined company will be list its American Depositary Shares (LGHL) and Warrants (LGHLW) on the Nasdaq Capital Market. The details are as follows:

Company/Issue: Lion Group Holding Ltd. American Depositary Shares representing a Class A Ordinary Shares
CUSIP#: 53620U102
Symbol: LGHL
Marketplace Effective Date: June 17, 2020
Company/Issue: Lion Group Holding Ltd. Warrants to purchase American Depositary Shares expiring 6/17/2025
CUSIP#: 53620U110
Symbol: LGHLW
Marketplace Effective Date: June 17, 2020

If you would like to register as a market maker in LGHL and LGHLW, contact Nasdaq Trading Services at +1 212 231 5100.


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