Spectrum Group International Extends Partial Cash Tender Offer to Acquire up to 208 of its Common Shares
COSTA MESA, Calif., March 29, 2022 (GLOBE NEWSWIRE) -- Spectrum Group International, Inc. (SPGZ) (“SGI” or the “Company”), an integrated network of leading companies concentrating on numismatics (coins) and paper currency, has extended the offering period of its previously announced tender offer (the “Offer”) for up 208 of its common shares at a price of $12,000 per share in cash. The number of shares for which the Offer is being made and the price per share in the Offer reflect the 1:10 reverse split of the common shares effected in December 2021.
The Offer is now scheduled to expire at 5:00 p.m., New York City time, on Tuesday, April 5, 2022, unless the Offer is further extended or earlier terminated in accordance with the terms set forth in the Company’s Offer to Purchase, dated March 1, 2022, and the related Letter of Transmittal.
American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised the Company that as of 5:00 p.m., New York City time, on March 29, 2022, the last business day prior to the announcement of the extension of the Offer, 31 shares had been validly tendered pursuant to the tender offer.
Consummation of the Offer remains subject to the conditions described in the Offer to Purchase.
D.F. King & Co., Inc. is acting as information agent for the Offer. For more information about the Offer, please contact D.F. King & Co., Inc. at or (888) 564-8149.
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
