BUY OUT OFFER REJECTED
Ezra Levine is the CEO of Collectable
We are writing to update you on the results of the 48-hour shareholder vote following the Series #JordanPSA10 acquisition offer. As you know, Collectable received an offer to acquire the Michael Jordan 1986 Fleer PSA 10 for $265,000 following October’s $100,000 IPO.
On a share weighted basis, 65% voted NOT to accept the buyout offer.
In addition, Collectable’s advisory committee reviewed the offer and determined the vote accurately expressed true shareholder sentiment and was a fair outcome given market conditions, recent comps, and future growth potential of the asset.
As a result, the acquisition offer has been declined and the asset will remain on Collectable’s platform. Collectable will continue to field offers on this asset and present shareholders with qualified offers along the way.
In addition, Series #JordanPSA10 will open for trading on the secondary market shortly.
All the best,