The parent company of PSA and PSA/DNA is taking steps to prevent bargain hunters from swooping in.
The Board of Directors of Collectors Universe, parent company of PSA and PSA/DNA, has adopted a limited duration stockholder rights plan. The Plan has an initial term of one year ending in
"We continue to be optimistic regarding the Company’s long-term prospects which we believe are not adequately reflected in the current trading price of our stock," Michael Hayes, Chief Executive Officer stated in a news release. "With the general market for securities depressed, our Board has taken this action to protect our stockholders from any attempt that might be made to acquire or control the company at an unreasonably low price. The Board also believes that the rights plan will help ensure that the Company has the opportunity to pursue its strategic plan and the Board will have adequate time to evaluate alternatives if such a takeover attempt were to be made. The rights plan as adopted is a temporary measure and compliant with ISS guidelines. The plan is not intended to and will not prevent an acquisition of the Company which is determined to be advantageous to the stockholders."
In connection with the adoption of the stockholder rights plan, the Board of Directors declared a non-taxable distribution of rights to purchase shares of a new series of preferred stock to all stockholders of record as of
Current market for PSA cards and graded memorabilia