Sirius International Insurance Group, Ltd. to Become Public Company Through a Combination with Easterly Acquisition Corp.

HAMILTON, Bermuda & NEW YORK, N.Y.--(BUSINESS WIRE)--Sirius International Insurance Group, Ltd. (“Sirius Group”), a global multi-line insurance and reinsurance group, and Easterly Acquisition Corp. (“Easterly”) (NASDAQ:EACQ) announced that they have executed a definitive agreement and plan of merger (“Merger Agreement”) for a proposed business combination that would result in Sirius becoming a publicly listed company. Under the terms of the Merger Agreement, Easterly would merge with a subsidiary of Sirius Group and become a wholly owned subsidiary of Sirius Group (the “Merger”). Upon the closing of the Merger, Easterly’s common stock would be exchanged for Sirius Group’s common shares at a price of 1.05x Sirius Group’s pro forma diluted GAAP book value per share as of June 30, 2018. Following the Merger, Sirius Group’s common stock will be traded on the NASDAQ.