Spectrum Group International Announces Results of Partial Cash Tender Offer For its Common Shares
Spectrum Group International, Inc. (SPGZ) announced the results of its cash tender offer for common shares, priced at $12,000 per share, which expired on April 6, 2022. A total of 31 shares were tendered and accepted, following a 1:10 reverse split executed in December 2021. Post-offer, the company has 2,040 common shares outstanding. SGI operates in the numismatics and collectibles sector, with offices and auction houses across North America, Europe, and Asia.
- Successful execution of a cash tender offer for common shares at $12,000 per share.
- Maintained a significant interest in the collectibles market, particularly through subsidiaries.
- Only 31 shares were tendered, indicating limited shareholder interest.
- The company has a reduced number of shares outstanding (2,040) after the tender offer.
COSTA MESA, Calif., April 06, 2022 (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 the results of its tender offer (the “Offer”) for its common shares at a price of
After giving effect to the consummation of the Offer, there are 2,040 common shares of the Company outstanding.
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
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