Collectors Universe (CLCT) Commences Dutch Auction Tender Offer to Buyback Up to 1.75 Million Shares At $5.20 A Share

June 2, 2009 8:52 AM EDT

Collectors Universe, Inc. (Nasdaq: CLCT) announced that it is commencing a modified Dutch Auction tender offer to purchase for cash up to 1,750,000 shares of its common stock, $.001 par value (including associated preferred share purchase rights issued under the Rights Agreement dated as of January 9, 2009 between the Company and StockTrans, Inc., as the Rights Agent), at a price per share of not less than $5.00 and not greater than $5.40, for a maximum aggregate purchase price of approximately $9,450,000. The closing price of the Company's stock was $4.55 on June 1, 2009, the last trading day preceding the commencement of the tender offer.

The mid point of the purchase range of $5.20 represents a 14.3% premium over the closing price of the Company's stock of $4.55 on June 1, 2009. In addition, the mid point of the purchase range of $5.20 represents a premium over the volume weighted average price of the Company's shares over the previous 15 business days of 17.1% and a premium over the volume weighted average price of the Company's shares over the previous 30 business days of 24.4%.

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