Chris Carlin, one of the longest tenured employees at any of the major trading card manufacturers, is leaving Upper Deck for a new job in the hobby. He's taking on a new role with Collectors, parent company of PSA. Carlin, who has been with Upper Deck for 24 years, has largely been the face of that company during his tenure. Originally hired 24 years ago, he had been serving … [Read more...] about Chris Carlin Leaving Upper Deck for Collectors
PSA
PSA Set to Expand with Signing of Lease for New East Coast Facility
When Nat Turner stepped into his new role as CEO of PSA’s parent company, he indicated a strong desire to increase the company’s physical presence beyond Southern California and another, smaller office in New Jersey. The first step in that process is now underway. Collectors Holdings and Veris Residential, Inc. owner of an office complex in Jersey City, NJ have signed … [Read more...] about PSA Set to Expand with Signing of Lease for New East Coast Facility
2 Collectors Universe Shareholder Groups Opposed to Revised Deal
The ante has been upped but at least two of the larger shareholders of Collectors Universe stock still don't believe it’s enough to support acceptance of a buyout deal. Sean Berger, President of Adirondack Retirement Specialists, which owns over 271,000 shares representing an approximate 2.9% equity interest in CU, is telling his clients he believes the parent company of … [Read more...] about 2 Collectors Universe Shareholder Groups Opposed to Revised Deal
New Offer for PSA Parent Company: $853 Million
An investor group looking to purchase the parent company of PSA has upped its offer. The group, led by avid collector and entrepreneur Nat Turner and Cohen Private Ventures, announced Wednesday that they’ve entered into an agreement to purchase all outstanding shares of Collectors Universe for $92 per share. That represents a sizeable increase from the $75.25 … [Read more...] about New Offer for PSA Parent Company: $853 Million
PSA Parent Company Agrees to $700 Million Buyout Offer
Collectors Universe, parent company of PSA, is being sold to an investor group led by entrepreneur and sports card collector Nat Turner for approximately $700 million. D1 Capital Partners L.P., and Cohen Private Ventures, LLC will acquire all of the Company’s outstanding shares of common stock for $75.25 per share in cash. Cohen Private Ventures is oversees … [Read more...] about PSA Parent Company Agrees to $700 Million Buyout Offer
Top Shareholder Wants to Flip PSA Parent’s Board of Directors
A Texas-based hedge fund is looking to take control of the future direction of Collectors Universe, the parent company of PSA. Alta Fox Capital recently disclosed it owns a 5.4 percent stake in CU (CLCT) and says it wants to unseat the company’s current board of directors with new members it has nominated ahead of the CU’s annual meeting. Alta Fox thinks that despite … [Read more...] about Top Shareholder Wants to Flip PSA Parent’s Board of Directors
PSA Parent Company Moves to Dismiss Lawsuit
Collectors Universe, the parent company of PSA, has filed a motion to dismiss a class action lawsuit brought by a Southern California collector earlier this year over altered cards. Eric Savoy had originally filed his suit in state court in February but CU moved it to U.S. District Court. Savoy had also named two major online dealers, alleging a conspiracy existed … [Read more...] about PSA Parent Company Moves to Dismiss Lawsuit
CU, PSA Back Open But With Limited Staff
PSA and PSA/DNA is back open and accepting smaller orders, albeit on a limited basis. Closed since March 20 because of a “shelter in place” order from California Governor Gavin Newsom, the company is again grading and authenticating some items, but with only part of its staff in place to tackle the work. The announcement first came from a press release issued by … [Read more...] about CU, PSA Back Open But With Limited Staff
State Orders Shut PSA Offices Again; New Jersey, Too
Just one day after being allowed to re-open, PSA was again forced to shut down grading and authentication Friday, following a new "stay at home" order that has effectively shuttered all non-essential California businesses. The company posted this on its website: Pursuant to Executive Order N-33-20, issued on March 19, 2020 by the Governor of California, Collectors … [Read more...] about State Orders Shut PSA Offices Again; New Jersey, Too
PSA Continues Push to Paperless Submissions
The PSA submission process for trading cards and some other items will go completely paperless after this month. The grading and authentication company says it will no longer accept paper carbon copy submission forms for orders involving cards, tickets, packs or dual service authentication and grading requests as of April 1. Instead, collectors will be required to … [Read more...] about PSA Continues Push to Paperless Submissions