BUY OUT OFFER REJECTED
Ezra Levine is the CEO of Collectable
Dear Investor,
We are writing to update you on the results of the 48-hour shareholder survey following the buyout offer on our Gary Carter ’75 Topps & OPC RC PSA 10 Basket.
As you know, Collectable received an offer to acquire Gary Carter ’75 Topps & OPC RC PSA 10 Basket for $45,000. The asset was offered on Collectable for $37,250 ($10/share). The asset has been trading on Collectable’s secondary market and last closed at $40,170 ($10.30/share), up 3% since IPO.
Inclusive of Collectable’s equity interests in the offering and broker-dealer transaction fees, Collectable would return approximately $10.44 net price per share following a positive survey of shareholders and decision by the Manager. This represents a 4.4% net return over the IPO price and a 1.36% net premium over last traded price on Collectable’s secondary market.
On a share weighted basis, 76% chose to REJECT the buyout offer. As a result, the Manager has declined the buyout offer. The asset will continue to trade on Collectable’s secondary market.
All the best,
Ezra Levine
CEO, Collectable