Collectors Universe has entered into a definitive agreement under which an investor group led by entrepreneur and sports card collector Nat Turner, 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. The transaction was recently approved by the Collectors Universe board of directors.

The transaction represents a premium of approximately 30 percent over the Collectors Universe 60-day volume-weighted average price for the period ending Nov. 25, 2020, the last full trading day before the sale announcement. The transaction represents fully diluted equity value of approximately $700 million.

Current president and CEO of Collectors Universe Joseph J. Orlando will continue to lead the organization, which will remain in its Santa Ana, California, headquarters.

“Collectors Universe has firmly established itself as an industry leader, with the strongest and best-known brands in authentication and grading services,” said Orlando. “As we look to our next chapter, I’m excited to partner with Nat [Turner], a fellow lifelong collector and hobbyist whose passion for the collectibles space and substantial experience scaling technology businesses will help Collectors Universe to drive continued growth and success in our PSA and PCGS brands over the long term.”

“Collecting sports cards and connecting with like-minded hobbyists has been a lifelong passion,” said Turner. “I have tremendous respect for the high-quality services Collectors Universe provides and the leadership position its talented team, led by Joe Orlando, has built.”

The transaction is expected to close in the first calendar quarter of 2021. Upon completion of the transaction, Collectors Universe will become a privately held company and its shares will no longer be listed on any public market.

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