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Spectrum Group International Announces Results of Partial Cash Tender Offer For its Common Shares
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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 $12,000 per share in cash that expired on April 6, 2022. A total of 31 shares were tendered and accepted for payment in the Offer. The number of shares tendered and the price per share in the Offer reflect the 1:10 reverse split of the common shares effected in December 2021.
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 40% interest in Spectrum Wine Auctions, LLC, the Company is also engaged in the sale of rare and fine vintage wines.
Contact: Spectrum Group International, Inc. Greg Roberts groberts@spectrumgi.com 949-748-4800
spectrum group international is a global trading and collectibles network. we are a trader of precious metal products such as gold, silver, platinum, and palladium, and an auctioneer of coins. we are also a lender offering loans to coin dealers, collectors and investors secured by their precious metals, rare coins, and other collectibles as collateral. spectrum group international’s total revenue exceeded $6.0 billion in fiscal year june 30, 2010, reflecting the success of our strategy to become a global leader in these markets. we are now a fortune 500 company. the trading activities of spectrum group are conducted through a-mark precious metals, one of the largest private sellers of bullion coins and bullion gold, silver and platinum to the wholesale marketplace. a-mark's subsidiary collateral finance corporation, which is the official numismatic lender of the american numismatic association, provides financing on a wide array of bullion and numismatic products. spectrum group's coll
