Friday, July 19, 2024

Spectrum Group International Reveals Outcomes of Cash Election Merger

Key Highlights of Spectrum Group International (SPGZ) Merger Completed on July 9, 2024

Costa Mesa, California – Spectrum Group International (SPGZ) is celebrating the successful completion of its cash election merger, marking a significant milestone for the company. On July 9, 2024, Spectrum Group International officially transitioned into a wholly-owned subsidiary of a new holding company, now known as Spectrum Group International (New SGI).

The merger, which was finalized by filing a certificate of merger with Delaware’s Secretary of State, offered eligible shareholders the choice between cash consideration or shares in the new holding company. Out of the 2,035 outstanding shares, an overwhelming majority of 1,865 shareholders opted to receive shares in New SGI, demonstrating their confidence in the company’s future performance.

For the remaining shareholders who did not choose to receive shares, they will be compensated with $22,000 per share in cash. Equiniti Trust Company has been appointed as the new Registrar and Transfer Agent to manage the uncertificated shares of New SGI post-merger.

This strategic move by Spectrum Group International reflects its commitment to adapting to the changing landscape of the market and positioning itself for long-term growth and success. Investors and stakeholders can look forward to exciting developments ahead as the company embarks on this new chapter under the umbrella of New SGI.

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