On April 22, 2020, JB Capital Partners LP announced that on February 27, 2020, GAIN Capital Holdings, Inc. announced that it would be acquired by merger with a subsidiary of INTL FCStone Inc. at $6.00 per share in cash. JB Capital Partners expressed its view that the merger price should be increased by at least $2.00 per share (to $8.00 or more per share) to reflect the improved results (as evidenced by higher adjusted EBITDA and net income) of the Company starting on February 27, 2020.