Spectrum Group International Announces Results of Partial Cash Tender Offer For its Common Shares
COSTA MESA, Calif., March 16, 2023 (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 the results of its tender offer (the “Offer”) for its common shares at a price of $18,000 per share in cash that expired on February 15, 2023. A total of 2 shares were tendered and accepted for payment in the Offer. The number of shares tendered and the price per share in the Offer reflect the 1:10 reverse split of the common shares effected in December 2021.
After giving effect to the consummation of the Offer, there are 1,980 common shares of the Company outstanding.
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 40% 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
