Topps Company Announces Strong First Quarter Sales Results, Major League Baseball Reaffirms NFT Agreement (MUDS)

June 2, 2021 9:19 AM EDT
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The Topps Company, Inc., a global leader in sports and entertainment collectibles and confections, announced today that total net sales for the first quarter ended April 3, 2021 increased 55% over the same period a year ago to approximately $166.6 million.

“We are very pleased with the strength exhibited by our business during the first quarter,” said Michael Brandstaedter, Chief Executive Officer of The Topps Company. “The strong momentum we experienced last year has continued in 2021, and we are excited about our growth opportunities over the near and long term.”

In addition, Major League Baseball (MLB) and Topps today reaffirmed that their licensing relationship, under which Topps offers a variety of MLB physical and digital products, is unchanged and will continue to include Topps Major League Baseball NFT (non-fungible token) trading card products.

“Topps is one of our oldest and most important MLB licensees and we look forward to continuing to work with them to bring new MLB-licensed trading card products in physical, digital and NFT forms to market,” said Noah Garden, Chief Revenue Officer of Major League Baseball. “We were very excited by Topps’ first MLB NFT launch -- 2021 Topps Series 1 – and we look forward to additional successful launches in the future.”

On May 12, 2021, Mudrick Capital Acquisition Corporation II (“MUDS”) (NASDAQ: MUDS), a publicly-traded special purpose acquisition company, filed its preliminary proxy in connection with its proposed business combination with The Topps Company. Topps expects to report full first quarter 2021 results concurrent with the filing of the first amendment to the proxy by MUDS. Upon closing of the transaction, the combined company will be named Topps and will be listed on NASDAQ under the new ticker symbol “TOPP.”

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