D.A. Davidson Advises Stack’s Bowers Galleries in its Sale to A-Mark Precious Metals

IRVINE, Calif.--(BUSINESS WIRE)-- D.A. Davidson & Co. announced today that it served as the exclusive sell-side financial advisor to Spectrum Group International, Inc. (“SGI”), the parent of Stack’s Bowers Galleries (“SBG”, or the “Company”) in its sale to A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (“A-Mark”).

D.A. Davidson & Co. announced today that it served as the exclusive sell-side financial advisor to Spectrum Group International, Inc. (“SGI”), the parent of Stack’s Bowers Galleries (“SBG”, or the “Company”) in its sale to A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (“A-Mark”).

Stack’s Bowers Galleries is a heritage brand founded in 1933 in New York and known as America’s oldest rare coin auctioneer and dealership. The Company’s Auction Services unit conducts in-person, internet and specialized auctions of consigned and owned items and has sold a wide range of the most important rarities and numismatic collections over its distinguished history. SBG’s Dealership unit maintains a sizeable inventory of rare coins and paper money that it sells as both a wholesaler to other retailers and as a DTC retailer. “I’m incredibly excited about SBG joining forces with A-Mark, which will allow us to offer enhanced services to our clients and accelerate our growth,” said Brian Kendrella, President of SBG. “D.A. Davidson played a pivotal role in supporting SBG through this sale process and is the culmination of the long-term partnership between SBG and D.A. Davidson.”

Dan Friedman, Managing Director at D.A. Davidson, said, “We are thrilled to announce this transformative transaction and are appreciative of the opportunity to work with Brian and the SBG team. We can’t wait to see what they’re able to accomplish as part of the broader A-Mark family.”

D.A. Davidson’s Consumer Group has built a strong reputation working with numerous brands that serve the collector and hobbyist. Our team has a reputation for its depth of industry knowledge, breadth of capabilities, and tenacity of its senior professionals. Offering sector-specific expertise through a full-service platform, the team provides M&A, strategic advisory, and equity capital markets capabilities across several subsectors, including active & outdoor; infant & juvenile; consumer products & services; ecommerce & marketplaces; and food & beverage. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,600 employees and offices in 30 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; and D.A. Davidson Trust Company, a trust and wealth management company.

For more information, visit dadavidson.com.

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Deal Team Contacts

Joe Schimmelpfennig, Head of Consumer Investment Banking | Irvine | jschim@dadco.com

Danny Friedman, Managing Director | Irvine | dfriedman@dadco.com

Austin Black, Director | Irvine | ablack@dadco.com

Victoria Rosen, Associate | New York | vrosen@dadco.com

Media Contact

Emily Roy

Prosek for D.A. Davidson

(646) 818-9232

eroy@prosek.com

Source: D.A. Davidson & Co.

FAQ

What is the significance of A-Mark (AMRK) acquiring Stack's Bowers Galleries?

The acquisition combines America's oldest rare coin auctioneer (founded 1933) with A-Mark Precious Metals, allowing for enhanced services and growth opportunities in the rare coins and collectibles market.

How does Stack's Bowers Galleries generate revenue under AMRK ownership?

SBG operates through two main revenue streams: conducting auctions of rare items and maintaining a dealership that sells rare coins and paper money both wholesale and direct-to-consumer.

What are the main business units of Stack's Bowers Galleries after the AMRK acquisition?

Stack's Bowers Galleries operates through an Auction Services unit conducting various types of auctions and a Dealership unit selling rare coins and paper money.

Who advised the Stack's Bowers Galleries sale to AMRK?

D.A. Davidson & Co. served as the exclusive sell-side financial advisor to Spectrum Group International (SGI) in the sale of Stack's Bowers Galleries to A-Mark.