On May 28, 2020, JB Capital Partners LP sent a letter to GAIN Capital Holdings, Inc. on May 27, 2020 recommending that the Company repurchase 14,657,089 shares held by VantagePoint Capital Partners Entities, IPGL Limited and IPGL NO.1 Limited at $6.25 per share (increasing tangible book value to $8.75 per share) which is a superior deal for all shareholders compared to the $6.00 merger price.