Spectrum Group International Announces Extension of Deadlines for Proposed Cash Election Merger
COSTA MESA, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- Spectrum Group International, Inc. (SPGZ) (“SGI” or the “Company”), an integrated network of leading companies concentrating on numismatics (coins) and paper currency, announced that it is extending certain deadlines with respect to its proposal to effect a cash election merger, in which certain eligible shareholders could elect to receive either cash consideration of $22,000 per share of the Company’s common stock or shares in a new holding company.
The deadline for submitting a consent to the cash election merger is being extended from May 17, 2024 to May 31, 2024.
The deadline for eligible shareholders to make an election whether to receive cash or share consideration is being extended from May 31, 2024 to June 14, 2024.
All other terms of the proposed cash election merger remain the same. Shareholders should refer to the Consent and Election Statement that has been distributed in connection with the cash election merger for information concerning the consent and election processes and other pertinent information concerning the proposed merger.
The Company has established April 23, 2024 as the record date for shareholders entitled to participate in the consent solicitation.
Equiniti Trust Company, LLC is serving as Tabulation Agent and Exchange Agent, and D.F. King & Co., Inc. is serving as Information Agent, for the consent solicitation and the merger.
About SGI
SGI operates through its subsidiaries as an integrated network of leading companies concentrating on numismatics (coins) and paper currency. The Company is also a merchant/dealer of certain collectibles. The sale of our products is conducted through auctions – both traditional live auctions as well as Internet only auctions – or through merchant/dealer transactions. The Company has offices and auction houses in North America, Europe and Asia. The Company's principal subsidiary is Stack's-Bowers Numismatics, LLC. In addition, through the Company’s 38% interest in Spectrum Wine Auctions, LLC, the Company is also engaged in the sale of rare and fine vintage wines.
Contact:
Spectrum Group International, Inc.
Greg Roberts
949-748-4800
