RTTNews | Jan 20, 2021 09:18AM EST

09:18 Wednesday, January 20, 2021 (RTTNews.com) - Collectors Universe Inc. (CLCT) and an investor group led by entrepreneur and sports card collector Nat Turner, D1 Capital Partners L.P., and Cohen Private Ventures, LLC said Wednesday they have entered into an amended and restated merger agreement. Shares pf Collectors Universe are gaining almost 18 percent in pre-market activity.

Collectors Universe is a provider of value-added authentication and grading services to dealers and collectors of collectibles.

Under the restated merger deal, Cards Acquisition Inc., an affiliate of the investor group, has increased its offer to acquire all outstanding shares of Collectors Universe to a "best and final" offer of $92.00 per share in cash. The offer, which is not subject to any financing contingency, values Collectors Universe at about $853 million.

The "best and final" offer represents a nearly 32 percent premium to Collectors Universe's unaffected share price on November 25, 2020, the last full trading day before the transaction was announced. It also represents a premium of 18 percent to the Collectors Universe's closing share price on January 19, 2021.

Collectors Universe said its board of directors has unanimously approved the revised agreement and recommended that all shareholders tender their shares in the offer.

The tender offer is now scheduled to expire at the end of the day on February 3, 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3161880/collectors-universe-investor-group-amend-merger-deal-to-boost-offer-price-to-92-per-share.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved