On November 9, 2017, magicJack VocalTec Communications Ltd. (NASDAQ: CALL) received an offer from B. Riley Financial, Inc. (NASDAQ: RILY) where RILY will purchase all outstanding shares of CALL for $8.71 per share in cash. The deal is awaiting the Federal Communications Commission’s (“FCC”) blessing before it can consummate. But as the 1-year Merger Agreement anniversary draws near, the arbitrage spread has widened to approximately 19%, suggesting uncertainty that the deal will close. Although the market suggests this, there is a compelling argument that the deal is in the final stretch and could