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 Sandy Koufax 1956 Topps Gray Back PSA 9 .
As you know, Collectable received an offer to acquire Sandy Koufax 1956 Topps Gray Back PSA 9 for $40,000. The asset was offered on Collectable for $33,750 ($10/share). The asset has been trading on Collectable’s secondary market and last closed at $35,437.50 ($10.50/share), up 5% since IPO.
Inclusive of Collectable’s equity interests in the offering and broker-dealer transaction fees, Collectable would return approximately $11.04 net price per share following a positive survey of shareholders and decision by the Manager. This represents a 10.4% net return over the IPO price and a 5.14% net premium over last traded price on Collectable’s secondary market.
On a share weighted basis, 57% 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 April 7th at 9:30am ET.
All the best,