Majority of Collectors Universe Shares Tendered into Offer Commenced by Investor Group

Tender Offer Extended to February 5, 2021 to Allow Settlement of Guaranteed Deliveries

NEWPORT BEACH, Calif., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Collectors Universe (NASDAQ: CLCT) (“Collectors Universe” or the “Company”), a leading provider of value-added authentication and grading services to dealers and collectors of collectibles, and the investor group led by entrepreneur and sports card collector Nat Turner, D1 Capital Partners L.P., and Cohen Private Ventures, LLC (the “Investor Group”), today announced that a majority of the issued and outstanding shares of Collectors Universe’s common stock have been tendered into the offer commenced by the Investor Group.

Broadridge Corporate Issuer Solutions, Inc., the depositary for the tender offer, has advised that as of 6:00 p.m., New York time, on February 3, 2021, approximately 5,063,280 shares of Collectors Universe’s common stock have been validly tendered and not withdrawn in the tender offer, representing approximately 56% of the outstanding shares of the Company’s common stock.

Approximately 752,361 of the validly tendered shares of Collectors Universe’s common stock, representing approximately 8.3% of shares outstanding, were tendered by notice of guaranteed delivery. To allow for those shares to be delivered, which can take up to two business days, the tender offer has been extended to one minute after 11:59 p.m., Eastern Time, at the end of the day on February 5, 2021.

All terms and conditions of the tender offer, including the Investor Group’s “best and final” offer price of $92.00 per share in cash, remain unchanged during the extension period. Collectors Universe shareholders who have already tendered their shares do not have to re-tender their shares or take any other action as a result of the extension to receive their significant cash premium upon the closing of the tender offer.

Assuming the successful closing of the tender offer after the extension period, the Investor Group intends to complete its acquisition of Collectors Universe as soon as practicable through the merger of Cards Acquisition Inc., an entity controlled by the Investor Group, with and into Collectors Universe. In connection with the merger, any remaining outstanding shares will be converted into the right to receive $92.00 per share in cash, without interest and subject to any required withholding taxes, the same consideration that will be received by shareholders who tendered their shares in the tender offer. Upon completion of the merger, Collectors Universe will become a privately held company and its common stock will cease trading on the NASDAQ Global Select Market.