A-Mark Precious Metals Announces Filing of Registration Statement for Offering of 2.8 Million Primary and Secondary Shares of Common Stock
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) announced a public offering of 2.8 million shares, including 2.5 million from the Company and 300,000 from selling stockholders. The offering also allows for an overallotment option of 420,000 shares. Proceeds will primarily fund the acquisition of JM Bullion, Inc., if completed; otherwise, funds will be used for general corporate purposes. The registration statement with the SEC is pending effectiveness.
- Public offering of 2.8 million shares to raise capital.
- Proceeds intended for acquisition of JM Bullion, potentially enhancing market position.
- Company will not receive any proceeds from the 300,000 shares sold by stockholders.
- If JM Bullion acquisition fails, the use of proceeds remains uncertain.
EL SEGUNDO, Calif., Feb. 24, 2021 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (“A-Mark” or the “Company”), a leading fully integrated precious metals platform, today filed with the Securities and Exchange Commission a prospectus supplement to its previously-filed shelf registration statement. This preliminary prospectus supplement relates to an underwritten public offering of 2,800,000 shares of common stock, consisting of 2,500,000 shares of common stock offered by the Company and an aggregate of 300,000 shares of common stock by certain stockholders of the Company (the “Selling Stockholders”). The Company expects to grant the underwriters an option to purchase up to an additional 420,000 shares of the common stock to cover over-allotments, which will be exercisable for 30 days after the pricing of the offering.
The Company currently intends to use the net proceeds of the sale of shares by the Company to fund a portion of the consideration payable in connection with the previously announced acquisition of JM Bullion, Inc., and other general corporate purposes. If the acquisition of JM Bullion is not consummated for any reason, proceeds received by the Company from the offering will be used for general corporate purposes. The Company will not receive any proceeds from the sale of shares by the Selling Stockholders.
D.A. Davidson and Roth Capital Partners are acting as joint book-running managers for the offering. CIBC Capital Markers is acting as a co-manager for the offering. When available, a copy of the prospectus and prospectus supplement relating to the offering may be obtained from D.A. Davidson & Co., 8 Third Street North, Great Falls, MT 59401, by telephone: 1-800-332-5915, or by email: prospectusrequest@dadco.com.
The registration statement relating to the sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction. The actual amount of any securities to be issued, and the terms of those securities, will be determined at the time of sale.
Company Contact:
Thor Gjerdrum, President
A-Mark Precious Metals, Inc.
1-310-587-1414
thor@amark.com
Investor Relations Contact:
Matt Glover
Gateway Investor Relations
1-949-574-3860
AMRK@gatewayir.com
FAQ
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