Houlihan Lokey Advises Collectors Universe

Houlihan Lokey is pleased to announce that Collectors Universe, Inc. (NASDAQ:CLCT), 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) have successfully completed the Investor Group’s tender offer to purchase all of the outstanding shares of Collectors Universe’s common stock for $92.00 per share in cash, valuing the company at approximately $853 million. The transaction closed on February 8, 2021.

On November 30, 2020, the company first announced that it entered into a definitive agreement under which the Investor Group would acquire all of the company’s outstanding shares of common stock for $75.25 in cash. On January 20, 2021, the company announced that it entered into an amended and restated merger agreement under which Cards Acquisition Inc., an affiliate of the Investor Group, increased its offer to acquire all outstanding shares of Collectors Universe to a “best and final” offer of $92.00 per share in cash, at which time the tender offer was extended for an additional 10 business days, in accordance with the merger agreement entered into with the Investor Group. On February 5, 2021, the date of expiration of the tender offer, a majority of the outstanding shares of the company’s common stock was validly tendered. Upon completion, Collectors Universe became a privately held company and its common stock was delisted from the Nasdaq Global Select Market.

Founded in 1986 and headquartered in Santa Ana, California, Collectors Universe is a leading provider of value-added services to the collectibles markets. The company authenticates and grades collectible coins, trading cards, event tickets, autographs, and memorabilia. The company also compiles and publishes authoritative information about United States and world coins, collectible trading cards, and sports memorabilia and operates its Certified Coin Exchange dealer-to-dealer internet bid-ask market for certified coins and its Expos trade show and conventions business.

D1 Capital Partners is a global investment firm that operates across public and private markets. The firm combines the talent and operational excellence of a large, premier asset management firm with the flexible mandate and long-term time horizon of a family office. Founded in 2018 by Dan Sundheim, D1 focuses on investing in the global internet, technology, telecom, media, consumer, healthcare, financial, industrial, and real estate sectors. Cohen Private Ventures invests long-term capital, primarily in direct private investments and other opportunistic transactions, and manages family office activities on behalf of Steven A. Cohen and his family.

Houlihan Lokey served as Collectors Universe’s exclusive financial advisor and assisted in negotiating terms, structure, and other financial aspects of the transaction on behalf of Collectors Universe.