Welcome to our dedicated page for CLCT news (Ticker: CLCT), a resource for investors and traders seeking the latest updates and insights on CLCT stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CLCT's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CLCT's position in the market.
Collectors Universe (NASDAQ: CLCT) has completed a tender offer to sell its common stock for $92.00 per share in cash. The offer saw approximately 57% of outstanding shares tendered, with an additional 1,093,255 shares delivered via guaranteed procedures, totaling about 69% of shares. Following the completion of this transaction, Collectors Universe will merge with Cards Acquisition Inc., making it a privately held company and ceasing its public trading on NASDAQ.
Collectors Universe (NASDAQ: CLCT) has extended its tender offer to February 5, 2021, allowing for the settlement of guaranteed deliveries. As of February 3, 2021, approximately 5,063,280 shares, or 56% of outstanding shares, have been tendered. The Investor Group, led by Nat Turner, offers $92.00 per share in cash. Following the tender offer, Collectors Universe will merge with the Investor Group, becoming a privately held company, with its shares ceasing to trade on NASDAQ.
Collectors Universe (NASDAQ: CLCT) has entered a revised merger agreement with an investor group led by Nat Turner, offering a 'best and final' acquisition price of $92.00 per share. This represents a 32% premium to the share price as of November 25, 2020, and an 18% premium to the price on January 19, 2021, valuing the company at approximately $853 million. The Board unanimously recommends shareholders tender their shares as the offer provides certainty amidst potential growth risks. The tender offer, extended until February 3, 2021, has seen about 4.34% of shares tendered as of January 19, 2021.
Collectors Universe (NASDAQ: CLCT) reported preliminary financial results for Q2 2021, expecting revenues around $35.4 million with a gross margin of 64%, and operating income of $10 million. A significant increase in service demand from the PSA division led to an average selling price (ASP) surge of 35% from the previous quarter. The board supports a merger offer from Cards Acquisition Inc. at $92 per share, reflecting a 32% premium to pre-announcement prices. The outlook suggests potential challenges ahead as growth rates may decline.
Pembroke Management Ltd., an institutional shareholder of Collectors Universe (CLCT), has issued an open letter to CLCT shareholders, representing an ownership interest of approximately 3.5%. The letter discusses Pembroke's views on the value of CLCT's securities and proposes actions the company's board may take to enhance shareholder value. It emphasizes that statements made in the letter are forward-looking and subject to risks and uncertainties that could affect actual performance.
Collectors Universe has announced a definitive agreement for acquisition by an investor group led by Nat Turner at a cash price of $75.25 per share, representing a 30% premium over the 60-day volume-weighted average price. The transaction, valued at approximately $700 million, is fully financed and not subject to any financing contingencies. The Board of Directors recommends shareholders tender their shares. The deal is expected to close in the first calendar quarter of 2021, transitioning Collectors Universe to a private entity.
Collectors Universe (NASDAQ: CLCT) will hold its 2020 Annual Stockholders Meeting virtually on December 10, 2020, at 10:00 a.m. PT due to the COVID-19 pandemic. Stockholders of record as of October 13, 2020, can participate online using a 16-digit control number found on their proxy materials. They are encouraged to log in by 9:45 a.m. to access materials and submit questions. Voting can be done before the meeting through various methods, ensuring that shares are voted according to stockholders' preferences, even if they cannot attend.
Collectors Universe, Inc. (NASDAQ: CLCT), a leader in authentication and grading services for collectibles, announced that its President and CEO, Joseph Orlando, will present at the Furey Research Hidden Gems Conference on November 19, 2020, at 11:30 a.m. PT. This virtual event aims to connect with portfolio managers and analysts. Collectors Universe specializes in grading coins, trading cards, and memorabilia, providing valuable resources and market insights to collectors and dealers. For more information, visit Collectors Universe.
Collectors Universe, Inc. (NASDAQ: CLCT) reported a significant 52% increase in revenues for Q1 FY2021, reaching $30.8 million compared to $20.2 million the prior year. The PSA division led with a remarkable 130% growth in cards and autographs, generating $18.6 million. Gross profit margin improved to 63% from 60%, and operating income surged 68% to $7.8 million. Net income rose to $6.0 million, or $0.65 per diluted share. Cash on hand increased to $36.7 million. The company plans to expand operations in response to growing demand.
