20. SUBSEQUENT EVENTS

Dividend

On January 28, 2025, the Company paid a regular cash dividend of $0.20 per share to stockholders of record as of January 14, 2025.

Credit Agreement

On January 29, 2025, the Company entered into an Eleventh Amendment to the Trading Credit Facility which increases the total facility by $34.5 million to $457.0 million. This amendment also modifies certain requirements under the Trading Credit Facility.

Acquisition of Spectrum Group International, Inc.

On January 30, 2025, the Company entered into a merger agreement (the “SGI Agreement”) to acquire Spectrum Group International, Inc. (“SGI”). Through its subsidiary Stack’s-Bowers Numismatics LLC (d/b/a Stack’s Bowers Galleries), SGI is engaged in the businesses of in‑person, internet and specialized auctions of consigned and owned rare and other precious coins, and also sells rare coins and paper money as both a wholesale dealer to other retailers and as a direct-to-consumer marketer. The Company and SGI share a common chief executive officer, two of the Company’s executives comprise a majority of the board of SGI and several members of the board of the Company are substantial stockholders of SGI. A special committee of independent directors of the Company negotiated the transaction on behalf of the Company and recommended its approval.

Under the terms of the SGI Agreement, the Company will acquire all of the stock of SGI in a merger transaction for aggregate consideration of $92.0 million, consisting of $46.0 million in cash and $46.0 million in common stock of the Company. For purposes of the SGI Agreement, the Company’s stock will be valued at its volume weighted average price on the Nasdaq Stock Market for the five trading days ending on the date of the execution of the Agreement.

Consummation of the acquisition is subject to various closing conditions. The Company anticipates closing the acquisition in the third quarter of the current fiscal year.