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 survey following the buyout offer on our Ronald Acuna ’17 Gold Refractor BGS 9.5.
As you know, Collectable received an offer to acquire Ronald Acuna ’17 Gold Refractor for $35,000. The asset was offered on Collectable for $24,960 ($5/share). The asset has been trading on Collectable’s secondary market and last closed at $24,960 ($4.80/share), down 4.16% since IPO.
Inclusive of Collectable’s equity interests in the offering and broker-dealer transaction fees, Collectable would return approximately $6.34 net price per share following a positive survey of shareholders and decision by the Manager. This represents a 26.8% net return over the IPO price and a 32.08% net premium over last traded price on Collectable’s secondary market.
On a share weighted basis, 53% 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, beginning today March 22nd at 9:30am ET.
All the best,