- Collectors Universe (NASDAQ:CLCT) expects second quarter preliminary revenues to be ~$35.4M; gross margin is expected to be ~64% and adj. operating income of ~$10M.
- The rapid turnaround services have resulted in an average selling price of 35% higher Q/Q and ~65% higher than the average ASP currently reflected in backlog.
- Joseph J. Orlando, President and CEO, said, “Our forecast for FY 2022 and beyond remains unchanged in light of expected downward pressure on ASP as we work through our sizable backlog.”
- Collectors Universe has entered into an amended and restated merger agreement under which Cards Acquisition, led by Nat Turner, D1 Capital Partners and Cohen Private Ventures has increased its offer to acquire all of the outstanding shares of CLCT to $92/share in cash.
- The “best and final” offer represents an ~32% premium to Collectors Universe’s unaffected share price on Nov. 25, 2020, the last full trading day before the transaction was announced, and a premium of 18% to the Company’s closing share price on Jan. 19, 2021.
- The tender offer commenced on Dec. 17, 2020 and has been extended to Feb. 3, 2021.
- Open Letter to Shareholders
- CLCT +17.87% premarket to $91.70.