Hydra Industries Acquisition: Written Communications Pursuant To Rule 425 Under The Securities Act (17 Cfr 230.425)

The following excerpt is from the company's SEC filing.

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(b)           On August 17, 2015, Jeffrey Lipkin resigned as the Executive Vice President, Chief Financial Officer and Chief Operating O fficer of Hydra Industries Acquisition Corp. (the “Company”) to pursue other professional interests. Mr. Lipkin will continue to act in the capacity of an advisor to the Company and its board of directors. In connection with his resignation, Mr. Lipkin waived his right to acquire 450,000 warrants from A. Lorne Weil, the Company’s Chairman and Chief Executive Officer.

(c)           On August 17, 2015, the Company appointed George Peng as the Executive Vice President and Chief Financial Officer of the Company.

George Peng, 45, has been a principal of Hydra Management since October 2014. Previously, Mr. Peng was an employee of Highpoint Associates, a firm that served as a consultant to Scientific Games Corporation, from May 2013 to April 2014, where he assisted in its integration of the acquisition of WMS Industries. Previously, from July 2001 to May 2013 Mr. Peng was a consultant primarily focused on financial planning and analysis for various industries, including retail and financial services. Previously, from June 2000 to May 2001, he was Chief Financial Officer of Girlshop, Inc., a privately-held internet apparel retailer. Previously, from August 1998 to March 2000, he was an Associate in the Investment Banking division of Credit Suisse, focusing on private equity, high yield, and leveraged lending. Mr. Peng holds a B.A. in Economics from the University of Michigan, Ann Arbor, as well as an M.B.A. with a concentration in Finance from the Anderson School at UCLA. Mr. Peng became a CFA charterholder in 2006.

There are no arrangements or understandings between Mr. Peng and any other persons pursuant to which Mr. Peng was appointed as an officer of the Company. In addition, there are no family relationship between Mr. Peng and any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer. Furthermore, since the inception of the Company, there have been no transactions in which the Company was or is to be a participant and the amount involved exceeds $120,000, and in which Mr. Peng had or will have a direct or indirect material interest, and there are currently no such proposed transactions.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 17, 2015


/s/ Martin E. Schloss

Name: Martin E. Schloss

Title: Executive Vice President, General

Counsel and Secretary

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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