Benzinga | Feb 8, 2021 07:07AM EST

Investor Group Led By Entrepreneur And Collector Nat Turner Successfully Completes Tender Offer For Shares Of Collectors Universe

NEWPORT BEACH, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Collectors Universe (NASDAQ:CLCT) ("Collectors Universe" or the "Company"), a leading provider of value-added authentication and grading services to dealers and collectors of collectibles, and the investor group led by entrepreneur and sports card collector Nat Turner, D1 Capital Partners L.P., and Cohen Private Ventures, LLC (the "Investor Group"), today announced the successful completion of the Investor Group's tender offer to purchase all of the outstanding shares of Collectors Universe's common stock for $92.00 per share in cash, without interest and subject to any required withholding taxes, net to the seller in cash.



Broadridge Corporate Issuer Solutions, Inc., the depositary for the tender offer, has advised that as of one minute after 11:59 p.m., Eastern Time, at the end of the day on February 5, 2021, the expiration of the tender offer, 5,179,075 shares were validly tendered and not withdrawn in the tender offer (including rollover shares deemed to be tendered for purposes of determining whether the minimum condition was satisfied), representing approximately 57% of the outstanding shares of the Company's common stock. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and the Investor Group will promptly pay for such shares, other than the rollover shares. In addition, 1,093,255 shares were delivered pursuant to guaranteed delivery procedures. When taken together, the shares tendered and delivered pursuant to guaranteed delivery procedures represent approximately 69% of the outstanding shares of the Company's common stock.