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 increased buyout offer on our Sandy Koufax 1964-65 Los Angeles Dodgers Game Worn Jersey.
As you know, Collectable received an offer to acquire the item for $500,000 following the April 2021 IPO of $426,500.
Inclusive of Collectable’s equity interests in the offering and broker dealer transaction fees, Collectable would return approximately $11.37 net price per share, if shareholders accept the offer. This represents a 13.7% return over the IPO price ($10/share) and a 75.19% net premium over last traded price on Collectable’s secondary market ($6.49).
On a share weighted basis, 86% decided to DECLINE the buyout offer.
As a result, the offer has been declined and the asset will remain on Collectable’s secondary market. Trading will resume tomorrow at 3pm ET.
All the best,