Jul 10, 2009

Collectors Universe Announces Final Results of Tender Offer

NEWPORT BEACH, Calif., July 10, 2009 /PRNewswire-FirstCall via COMTEX/ -- Collectors Universe, Inc. (Nasdaq: CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced the final results of its previously

NEWPORT BEACH, Calif., July 10, 2009 /PRNewswire-FirstCall via COMTEX/ -- Collectors Universe, Inc. (Nasdaq: CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced the final results of its previously announced modified "Dutch Auction" tender offer to purchase for cash up to 1,750,000 shares of its common stock, $.001 par value (including associated preferred share purchase rights), at a price per share of not less than $5.00 and not greater than $5.40. The tender offer expired at 12:00 Midnight, Eastern Time, on July 2, 2009.

The Company has accepted for purchase 1,749,828 shares in the tender offer, at a price of $5.00 per share, for a total cost of approximately $8,749,140, excluding fees and expenses related to the tender offer. With completion of the tender offer, the Company has approximately 7,408,516 shares outstanding.

Based on a final count by the Depositary for the tender offer, 4,691,743 shares were properly tendered and not withdrawn, including 3,948,248 shares at a purchase price of $5.00 per share. The Depositary has advised the Company that the final proration factor was approximately 43% for the tender offer. Any "small lot" shares of common stock properly tendered and not withdrawn will not be subject to proration.

The Depositary will promptly issue payment for the shares validly tendered and accepted for purchase and will return all other shares tendered and not accepted for purchase due to the proration or conditional tender provisions of the tender offer.

B. Riley & Co., LLC served as the Company's financial advisor and information agent for the offering. StockTrans, Inc. served as the Depositary.

About Collectors Universe

Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles markets. The Company authenticates and grades collectible coins, sports cards, autographs and stamps. The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia and collectible stamps and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business. This information is accessible to collectors and dealers at the Company's website, http://www.collectors.com, and is also published in print.

Forward-Looking Statements

This news release contains statements regarding our expectations, beliefs or views about our future financial performance, which constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or future or conditional verbs such as "will," "would," "should," "could," or "may."

Due to a number of risks and uncertainties to which our business is subject, our future financial performance may differ, possibly significantly, from our expected financial performance as set forth in the forward looking statements contained in this news release. Information regarding those risks and uncertainties, and their possible impact on our future financial performance, include, but are not limited to, the risk that economic conditions in the United States will not improve for some time and may even deteriorate further, which could result in further reductions in the demand for our collectible grading services and, consequently, in our revenues; the risk that our strategy to offer new services in our continuing markets will not be successful in enabling us to improve our profitability or may even cause us to incur significant losses; and the risk that the commercial real estate market in New York City will deteriorate further, in which case we may not be able to sublease the offices and laboratory facilities in New York City within the time period and for the rents currently expected, causing our rental payment obligations to be significantly higher than currently expected.

Additional information regarding these risks and information regarding other risks and uncertainties to which our business is subject is contained in our Annual Report on Form 10-K for our fiscal year ended June 30, 2008 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 filed with the Securities and Exchange Commission. Due to these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or in that Annual Report, which speak only as of their respective dates. We also disclaim any obligation to update or revise any of the forward-looking statements as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules.

Joseph Wallace
Chief Financial Officer
Collectors Universe
Email: jwallace@collectors.com

SOURCE Collectors Universe, Inc.


Stock Quote

(: )
Day High:
Day Low:

Copyright Nasdaq. Minimum 15 minutes delayed.