Spectrum Group International Announces Extension of Deadlines for Proposed Cash Election Merger
Spectrum Group International (SPGZ) announced an extension of deadlines for its proposed cash election merger. Shareholders can now submit their consent for the merger until May 31, 2024, and make their election to receive either $22,000 per share or shares in a new holding company by June 14, 2024. The original deadline was May 17, 2024, for consent and May 31, 2024, for election. All other terms of the merger remain unchanged. April 23, 2024, is the record date for shareholders eligible for the consent solicitation. Equiniti Trust Company is the Tabulation and Exchange Agent, and D.F. King & Co. is the Information Agent for this process.
- Extension of deadlines allows shareholders more time to consider their options, potentially leading to better-informed decisions.
- Shareholders have the option to receive a significant cash consideration of $22,000 per share.
- The involvement of reputable agents like Equiniti Trust Company and D.F. King & Co. ensures a smooth and transparent process.
- The extension of deadlines may indicate potential issues or complications in the merger process.
- The extended timeline may create uncertainty, potentially impacting stock performance in the short term.
- No new terms or benefits have been introduced, which might not incentivize shareholders who were undecided before.
COSTA MESA, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- Spectrum Group International, Inc. (SPGZ) (“SGI” or the “Company”), an integrated network of leading companies concentrating on numismatics (coins) and paper currency, announced that it is extending certain deadlines with respect to its proposal to effect a cash election merger, in which certain eligible shareholders could elect to receive either cash consideration of
The deadline for submitting a consent to the cash election merger is being extended from May 17, 2024 to May 31, 2024.
The deadline for eligible shareholders to make an election whether to receive cash or share consideration is being extended from May 31, 2024 to June 14, 2024.
All other terms of the proposed cash election merger remain the same. Shareholders should refer to the Consent and Election Statement that has been distributed in connection with the cash election merger for information concerning the consent and election processes and other pertinent information concerning the proposed merger.
The Company has established April 23, 2024 as the record date for shareholders entitled to participate in the consent solicitation.
Equiniti Trust Company, LLC is serving as Tabulation Agent and Exchange Agent, and D.F. King & Co., Inc. is serving as Information Agent, for the consent solicitation and the merger.
About SGI
SGI operates through its subsidiaries as an integrated network of leading companies concentrating on numismatics (coins) and paper currency. The Company is also a merchant/dealer of certain collectibles. The sale of our products is conducted through auctions – both traditional live auctions as well as Internet only auctions – or through merchant/dealer transactions. The Company has offices and auction houses in North America, Europe and Asia. The Company's principal subsidiary is Stack's-Bowers Numismatics, LLC. In addition, through the Company’s
Contact:
Spectrum Group International, Inc.
Greg Roberts
groberts@spectrumgi.com
949-748-4800
FAQ
What is the new deadline for submitting consent for Spectrum Group International's cash election merger?
What is the new deadline for making an election to receive cash or shares in the Spectrum Group International merger?
What is the cash consideration per share in the Spectrum Group International cash election merger?
Who is eligible to participate in the consent solicitation for Spectrum Group International's merger?
Which companies are serving as agents for the Spectrum Group International's consent solicitation and merger?
