Jernigan Capital, Inc. (NYSE: JCAP)
According to the Complaint, this action stems from a proposed transaction announced on August 3, 2020 (the “Proposed Transaction”), pursuant to which Jernigan Capital, Inc. (“Jernigan” or the “Company”) will be acquired by affiliates of NexPoint Advisors, L.P.
On August 3, 2020, Jernigan’s Board of Directors caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Jernigan Capital Operating Company, LLC, NexPoint RE Merger, Inc., and NexPoint RE Merger OP, LLC. Pursuant to the terms of the Merger Agreement, Jernigan’s stockholders will receive $17.30 in cash for each share of Jernigan common stock they own.
On August 20, 2020, Defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission in connection with the Proposed Transaction.
The Complaint alleges the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.