January 3, 2018 / 9:26 PM / 17 days ago

BRIEF-1347 Property Insurance Says Entered Into A Stock Purchase Agreement With 1347 Advisors And IWS Acquisition Corp

Jan 3 (Reuters) - 1347 Property Insurance Holdings Inc :

* 1347 PROPERTY INSURANCE HOLDINGS INC - ‍ON JAN. 2, CO ENTERED INTO A STOCK PURCHASE AGREEMENT WITH 1347 ADVISORS LLC AND IWS ACQUISITION CORPORATION

* 1347 PROPERTY INSURANCE HOLDINGS INC - CO REPURCHASED 60,000 SHARES OF SERIES B PREFERRED STOCK OF COMPANY FROM 1347 ADVISORS LLC FOR $1.74 MILLION

* 1347 PROPERTY INSURANCE HOLDINGS - ‍CO ALSO AGREED TO REPURCHASE AN ADDITIONAL 60,000 SHARES FROM IWS ACQUISITION CORPORATION FOR $1.5 MILLION-SEC FILING

* 1347 PROPERTY INSURANCE HOLDINGS- ‍IN CONNECTION WITH STOCK PURCHASE AGREEMENT DATED AS OF FEB. 24, 2015, PERFORMANCE SHARES AGREEMENT WAS TERMINATED​

* 1347 PROPERTY INSURANCE HOLDINGS - ‍IN CONNECTION WITH TERMINATION, COMPANY AGREED TO PAY AN AGGREGATE CASH PAYMENT OF $300,000 TO 1347 ADVISORS LLC​ Source text for Eikon: Further company coverage:

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