Santa Ana-based Collectors Universe Inc. said Wednesday that shareholders and the company plan to sell about $60 million worth of stock.
The company, which earns fees for authenticating coins, stamps, baseball cards and other collectibles, registered with the Securities and Exchange Commission for the sale of 3 million shares. The company plans to sell 1.9 million shares while shareholders are set to unload about 1.1 million.
Collectors Universe’s share of the stock sale will be about $38 million, less underwriting fees, based on its recent trading price of $20 per share.
The company said it will use proceeds from the offering for “general corporate purposes,” including the introduction of new services, possible acquisitions and working capital.
Thomas Weisel Partners LLC is the managing underwriter for the stock sale. Underwriters have the option to buy another 450,000 shares.
Collectors Universe posted sales of $8.2 million for the quarter ending Sept. 30, up 37% versus a year earlier. Operating profit nearly tripled to $1.3 million.
