M&A
confidence high
sentiment neutral
materiality 0.75
A-Mark to acquire Spectrum Group International for $92M (cash/stock); credit facility raised $34.5M
Gold.com, Inc.
- Acquisition of SGI for aggregate $92M: $46M cash & $46M in common stock valued at VWAP over 5 days.
- SGI, through Stack's Bowers Galleries, operates rare coin & precious metals auctions and direct sales.
- Transaction approved by special committee; SGI shares common CEO with A-Mark; major stockholders indemnify.
- Credit agreement amended to increase revolving commitments by $34.5M to $457M to support financing.
- Closing subject to lender consents, financing, quality of earnings report, and regulatory conditions.