On November 30, 2020, Collectors Universe, a leader in third-party grading and authentication services for high-value collectibles, announced that it had entered into a definitive agreement under which an investor group led by entrepreneur and sports card collector Nat Turner, D1 Capital Partners, L.P., and Cohen Private Ventures, LLC, will acquire all of Collectors Universe’s outstanding shares of common stock for $75.25 per share in cash. Wilson Sonsini Goodrich & Rosati advised Collectors Universe on the transaction.
According to the press release, the transaction represents a premium of approximately 30 percent over the company’s 60-day volume-weighted average price ended on November 25, 2020, the last full trading day before the announcement. The transaction, which was approved by the Collectors Universe board of directors, represents fully diluted equity value of approximately $700 million, and is not subject to any financing contingency. The transaction is expected to close in the first calendar quarter of 2021. Upon completion, Collectors Universe will become a privately held company and its shares will no longer be listed on any public market.
The Wilson Sonsini team advising Collectors Universe includes the following attorneys:
Corporate/M&A
Rob Kornegay
Rob Ishii
Douglas Schnell
Broderick Henry
Elia Perez Villamarin
Litigation
David Berger
Employee Benefits & Compensation
Brandon Gantus
Michael Montfort
Jason Chan
Technology Transactions
Christopher Paniewski
Dena Smith
Privacy
Matt Staples
Daniel Chen
Real Estate
Susan Reinstra
Martin Sul
Regulatory
Anne Seymour
Seth Cowell
Please see Collectors Universe’s press release for more information.