EMERGENT CAPITAL,INC. (NYSE:EMG) Files An 8-K Termination of a Material Definitive Agreement

EMERGENT CAPITAL,INC. (NYSE:EMG) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.

Story continues below

On July10, 2018, Emergent Capital,Inc. (the “Company”), SB Holdings,Inc. (“Holdings”) and Sherman, Clay& Co. (“Sherman, Clay” and, with the Company and Holdings, the “Parties”) entered into a letter agreement (the “Letter”) terminating the Stock Purchase Agreement (the “Agreement”), dated as of January22, 2018, by and among the Parties, to which the Company had agreed to purchase all of the issued and outstanding capital stock of Sherman, Clay from Holdings. The termination was effected by mutual written consent of the Parties to Section7.01 of the Agreement, without any liability, obligation or penalty incurred by any Party.

A copy of the Letter is attached hereto as Exhibit10.1. The foregoing description of the Letter is qualified in its entirety by reference to such document, which is filed as Exhibit10.1 to this Form8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits. EXHIBITINDEX


EMERGENT CAPITAL, INC. Exhibit
EX-10.1 2 a18-17180_1ex10d1.htm EX-10.1 Exhibit 10.1   EMERGENT CAPITAL,…
To view the full exhibit click here

About EMERGENT CAPITAL,INC. (NYSE:EMG)

Emergent Capital, Inc., formerly Imperial Holdings, Inc., is a specialty finance company that invests in asset classes, primarily life settlements. The Company, through its subsidiary companies, owns a portfolio of approximately 630 life insurance policies (life settlements). The Company purchases individual policies and portfolios of life insurance policies and manages those assets based on actuarial and market data. The Company provides customized liquidity solutions to owners of illiquid financial assets in two markets, which include life finance and structured settlements. The Company focuses on lending to outright purchases of portfolios, to tertiary trades, as well as individual secondary market purchases. The Company invests in short and long-term life settlement investments.

An ad to help with our costs