Skip to main content

Spectrum Group International Announces Results of Cash Election Merger

Written by Customer Service on . Posted in Mergers And Acquisitions.

COSTA MESA, Calif., July 09, 2024 (GLOBE NEWSWIRE) — Spectrum Group International, Inc. (SPGZ) (the “Company”), an integrated network of leading companies concentrating on numismatics (coins) and paper currency, announced the results of its cash election merger, in which certain eligible shareholders could elect to receive either cash consideration or shares in a new holding company.   As a result of the merger, the Company became a wholly-owned subsidiary of the holding company, which is being renamed Spectrum Group International, Inc. (“New SGI”)

The merger was consummated on July 9, 2024 by filing of a certificate of merger with the Secretary of State of Delaware.

Prior to the merger, there were 2,035 shares of common stock of the Company outstanding. In connection with the merger, eligible holders of 1,865 shares of common stock of the Company elected to receive shares of common stock of New SGI. The holders of the remaining shares of common stock of the Company will receive cash consideration of $22,000 per share.

All shares of common stock of New SGI will be held of record in uncertificated form with the Registrar and Transfer Agent of New SGI. Equiniti Trust Company, LLC is serving as Registrar and Transfer Agent, and will be distributing statements of account evidencing the issuance of the New SGI shares to the respective holders.

About Spectrum Group International, Inc,

Spectrum Group International, Inc. 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
groberts@spectrumgi.com
949-748-4800

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.