A-Mark Precious Metals announces continued expansion into coin market

A-Mark Precious Metals (AMRK) announced its continued expansion into the collectible coin market with the following acquisitions: On February 28, 2025, A-Mark completed the previously reported acquisition of Spectrum Group International, Inc., the parent of Stack’s Bowers Galleries. On March 9, 2025, A-Mark entered into a definitive agreement to acquire the 90% of AMS Holdingnot owned by A-Mark. On February 28, 2025, A-Mark, closed the acquisition of the 51% of Pinehurst Coin Exchange that it previously did not own. A-Mark paid $92.0 million to acquire 100% of SGI’s outstanding stock. The consideration consisted of $46.0 million in cash and $46.0 million in A-Mark stock valued at $27.51 per share, its volume weighted average price on the Nasdaq Stock Market for the five trading days preceding the definitive agreement’s execution. There is a holdback of 4% of the total stock issued to satisfy potential indemnification claims. A-Mark has agreed to pay $50.0 million in cash to acquire the remaining 90% of AMS stock and up to an additional $9.0 million in cash based upon the achievement of performance benchmarks in calendar 2025 and 2026. A-Mark paid $6.5 million in cash to acquire 51% of Pinehurst’s stock and has agreed to pay up to an additional $5.3 million in cash consideration based upon the achievement of performance benchmarks.