Cowen Inc. (NASDAQ:COWN) ("Cowen" or the "Company") and CEFC China Energy Company Limited ("CEFC China") today announced that they have withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the United States ("CFIUS") to permit more time for review and discussion with CFIUS in connection with the proposed acquisition by CEFC China of a common stock interest representing approximately 19.9% of Cowen's outstanding common shares for an aggregate purchase price of approximately $100 million ("Equity Investment") contemplated by the Stock Purchase Agreement signed by the parties on March 29, 2017. Pursuant to the Stock Purchase Agreement CEFC China has also agreed to provide Cowen with $175 million in debt financing ("Debt Financing") concurrently with the closing of the Equity Investment. The acceptance of the refiling of a joint voluntary notice by CFIUS will trigger a new 30-day review period, which may be followed by an additional 45-day investigation period. Cowen and CEFC China are continuing to work diligently to satisfy the closing conditions under the Stock Purchase Agreement, including CFIUS clearance, and plan to continue to actively engage in further discussions with CFIUS during its review. There can be no assurances, however, that CFIUS will ultimately agree to clear the transaction. In addition to CFIUS clearance, the closing of the proposed transaction remains subject to the receipt of certain regulatory and government approvals and the satisfaction of other customary closing conditions. As a result of the refiling of the joint voluntary notice to CFIUS, the parties are now targeting a closing of the Equity Investment and Debt Financing by the end of the fourth quarter of 2017, subject to the receipt of the required regulatory approvals. About Cowen Inc. Cowen Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, prime brokerage, global clearing and commission management through its two business segments: Cowen Investment Management and its affiliates make up the Company's alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company's broker-dealer segment. Cowen Investment Management provides alternative asset management solutions to a global client base and manages a significant portion of Cowen's proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide. For additional information, visit www.cowen.com. About CEFC China CEFC China Energy Company Limited is one of the largest and most internationalized private companies in China, listed as 222 nd on Fortune Global 500 with over 30,000 employees. With energy, finance and international banking as its main business, the company has conducted investment all over the world, promoted interactive collaboration across different fields, established large-scale oil and gas terminals system and invested and developed oil and gas blocks with abundant resources in countries like Abu Dhabi and Chad. Equipped with first class global finance and investment team, the company owns multiple financial platforms of bank, security and asset management. The company has a controlling stake in a European bank and invested in various high-level European companies in the areas of airlines, tourism and e-commerce.