|12 Months Ended|
Jun. 30, 2021
|Subsequent Events [Abstract]|
19. SUBSEQUENT EVENTS
Trading Credit Facility
On July 16, 2021, the Company entered into an Eighth Amendment (the “Eighth Amendment”) to Amended and Restated Uncommitted Credit Agreement with Cooperative Rabobank U.A., New York Branch as Administrative Agent, and various other lenders (the “Credit Agreement.”) As so amended, the Credit Agreement now provides for a $330.0 million credit facility, consisting of a $280.0 million base and a $50.0 million accordion feature. The maturity date of the credit facility is March 25, 2022.
Increased Investment in Pinehurst Coin Exchange, Inc.
On August 27, 2021, the Company increased its ownership interest in Pinehurst Coin Exchange, Inc., a North Carolina corporation (“Pinehurst”), from 10% to 49%, for a purchase price of $9.75 million, consisting of $6.75 million in cash and 61,590 shares of the Company’s common stock. The Company had acquired its initial minority investment in January 2019. As part of the recent transaction, A-Mark also extended its existing exclusive supplier agreement with Pinehurst for an additional five years, to January 2029. Pinehurst is a leading precious metals broker, servicing the wholesale and retail marketplace, and one of the nation’s largest e-commerce retailers of modern and numismatic certified coins on eBay.
Special Dividend Declared
On August 30, 2021, the Company's Board of Directors declared a special dividend of $2.00 per share to common stock shareholders of record at the close of business on September 20, 2021, payable on or about September 24, 2021. The estimated dividends to be paid total $22.6 million.
No definition available.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef