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PSA acquiring another company?

A761506A761506 Posts: 1,309 ✭✭✭
in Trading Cards & Memorabilia Forum
Interesting positioning move by PSA yesterday.

Link

Comments

  • Dallas88Dallas88 Posts: 746 ✭
    Looks like they need a bit more cash pretty quick - wonder what they're buying (if anything)?
  • Love of the GameLove of the Game Posts: 250 ✭✭
    "The Company intends to use the net proceeds it will receive from this offering for general corporate purposes, including the introduction of new services for its customers, potential acquisitions and working capital."

    That language is pretty boilerplate with secondary offerings. It'll be interesting to see if they do anything, but a lot of times companies use that language in their press release and then just use the funds to pay down debt.

    -Al
  • stormsurgestormsurge Posts: 858 ✭✭
    It's quite interesting since the company is sitting on lots of cash already. Current shareholders (myself included) are hoping that they do something that really adds value to the company since our current stake in the company will be diluted by quite a bit with the 2 million or so new shares.
  • roastedcatroastedcat Posts: 892
    How much is 1 share of stock? anyone know what the going rate is?
    Jery's T206 set: Looking for PSA 6's & 7's!
  • stormsurgestormsurge Posts: 858 ✭✭
    Last trade for the day was $19.83.
  • calleochocalleocho Posts: 1,569 ✭✭
    image
    "Women should be obscene and not heard. "
    Groucho Marx
  • mikeschmidtmikeschmidt Posts: 5,756 ✭✭✭
    When your stock is up 1,000% in less than 2 years - if you need cash, at the top is when to get it
    I am actively buying MIKE SCHMIDT gem mint baseball cards. Also looking for any 19th century cabinets of Philadephia Nationals. Please PM with additional details.
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