Collectors Universe and an investor group led by entrepreneur and sports card collector Nat Turner have come to an amended merger agreement following the initial announcement of a $700 million deal in late November 2020.
The new deal values Collectors Universe at approximately $853 million. The investor group — which includes D1 Capital partners and Steve Cohen’s family office Cohen Private Ventures — will acquire all of the company’s outstanding shares of common stock at a “best and final” offer of $92 per share in cash.
Collectors Universe has seen growth amid the pandemic as the trading card industry boomed.
- $30.8 million in revenue in its most recent quarter, up 52% year-over-year
- $7.8 million in operating income, an increase of 25%
- 130% jump in cards and autographs revenue, to $18.6 million
Collectors Universe is the parent company of Professional Sports Authenticators, which has certified over 40 million cards and collections with a cumulative value exceeding $1 billion since launching in 1991.
“We look forward to applying our collective experience scaling technology businesses and extensive knowledge of the collectibles space to expand the Company’s operational capacity and technological capabilities,” Turner said.