A-Mark Precious Metals Announces Exercise of Over-Allotment Option in Public Offering
March 10 2021 - 4:15PM
A-Mark Precious Metals, Inc. (NASDAQ:
AMRK) (A-Mark), a leading fully integrated precious metals
platform, announced today that the underwriters of its previously
announced public offering of common stock have fully exercised
their option to purchase an additional 375,000 shares. The option
was granted in connection with the company’s public offering of
2,500,000 shares of common stock at a price to the public of $28.00
per share, which closed on March 8, 2021. After giving effect to
the full exercise of the over-allotment option, the total number of
shares sold by A-Mark in the public offering increased to 2,875,000
shares, and the company expects to receive total net proceeds from
the public offering of approximately $75.3 million, after deducting
the underwriter discounts and commissions and estimated offering
expenses payable by A-Mark.
D.A. Davidson & Co. and Roth Capital Partners acted as joint
book-running managers for the offering. CIBC Capital Markets acted
as a co-manager for the offering.
A-Mark anticipates that the net proceeds from the offering will
be used to fund a portion of the consideration payable in
connection with the previously announced acquisition of JM Bullion,
Inc. If the acquisition of JM Bullion is not consummated for any
reason, proceeds from the offering will be used by A-Mark for
general corporate purposes.
The offering was made pursuant to an effective registration
statement on Form S-3 (No. 333-249060), which was declared
effective by the Securities and Exchange Commission on March 4,
2021. Copies of the final prospectus supplement and accompanying
prospectus relating to the offering may be obtained from D.A.
Davidson & Co., 8 Third Street North, Great Falls, MT 59401, by
telephone: 1-800-332-5915, or by email:
prospectusrequest@dadco.com.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation, or sale would be
unlawful prior to the registration or qualification under the
securities law of any such state or jurisdiction.
Important Cautions Regarding Forward-Looking
StatementsStatements in this press release that relate to
the consummation of the acquisition of JM Bullion are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and the Securities
Exchange Act of 1934. The Company may be unsuccessful in
consummating the acquisition of JM Bullion on the terms presently
contemplated or at all. The acquisition is subject to various
conditions which may not be satisfied depending on a variety of
business, economic, political, governmental and market factors,
including those that are described in the Company’s registration
statement on Form S-3 and the final prospectus supplement referred
to above and the Company’s other public filings with the SEC. We
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Company Contact:Thor Gjerdrum, PresidentA-Mark
Precious Metals, Inc.1-310-587-1414thor@amark.com
Investor Relations Contact:Matt GloverGateway
Investor Relations1-949-574-3860AMRK@gatewayir.com
A Mark Precious Metals (NASDAQ:AMRK)
Historical Stock Chart
From Mar 2024 to Apr 2024
A Mark Precious Metals (NASDAQ:AMRK)
Historical Stock Chart
From Apr 2023 to Apr 2024