BUY OUT OFFER ACCEPTED
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 Stephen Curry | ‘12-’13 Nike Player Exclusive Game-Worn Sneakers – 8 Games.
As you know, Collectable received an offer to acquire our Stephen Curry | ‘12-’13 Nike Player Exclusive Game-Worn Sneakers – 8 Games for $110,000. The asset was offered on Collectable on November 7th, 2021 for $78,500 ($10/share). The asset has not been to the secondary market.
Inclusive of Collectable’s equity interests in the offering and broker-dealer transaction fees, Collectable would return approximately $13.38 net price per share, if shareholders accept the offer. This represents a 33.8% return over the IPO price ($10/share).
On a share weighted basis, 80% decided to ACCEPT the buyout offer. As a result, we passed the acquisition offer to our advisory committee for review.In a 5-0 vote, our advisory committee voted to accept the offer. Their vote was guided primarily by shareholder sentiment and the belief this offer represents a reasonable exchange at today’s valuations.
With support from both a majority of the shareholders and advisory committee, Collectable has agreed to accept the buyer’s offer for the underlying asset for $110,000.
The asset will be retired from Collectable and all investors of record will receive a cash payout of $13.38/share to their bank account on file.Please allow up to 14 business days to receive your funds.
Thank you, and congrats to shareholders,
Ezra Levine
CEO, Collectable