BUY OUT OFFER REJECTED
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 Tim Duncan ’97-’98 Precious Metal Gems – BGS 8.
As you know, Collectable received an offer to acquire Tim Duncan ’97-’98 Precious Metal Gems – BGS 8 (TDPMG) for $300,000. The asset was offered on Collectable in August 2021 for $219,500 ($5/share). The asset has been trading on Collectable’s secondary market and last closed at $548,750 ($12.50/share), up 150% since IPO.
Inclusive of Collectable’s equity interests in the offering and broker-dealer transaction fees, Collectable would return approximately $6.57 net price per share following a positive survey of shareholders and decision by the Manager. This represents a 31.4% net return over the IPO price and a -47.44% net premium over last traded price on Collectable’s secondary market.
On a share weighted basis, 92% 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 4th at 9:30am ET.
All the best,
Ezra Levine
CEO, Collectable