Company: GOLD
Filing Date: 2025-02-04
Form Type: 8-K
Source: 0000950170-25-012627
Chunk: 0

Company: Gold.com, Inc.
Filing Date: 2025-02-04
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

(a) Eleventh Amendment to Credit Agreement

On January 29, 2025, A-Mark Precious Metals, Inc. (the "Company") entered into an Eleventh Amendment to Credit Agreement (the "Credit Agreement Eleventh Amendment") with the other loan parties thereto, the lenders party thereto and CIBC Bank USA as administrative agent for the lenders.

The Credit Agreement Eleventh Amendment amends the Company’s Credit Agreement, dated December 21, 2021, as amended by amendments first through tenth (the “ Credit Agreement”), which provides for a revolving credit facility.

The Credit Agreement Eleventh Amendment increases the Revolving Commitment by $34,500,000 to $457,000,000. The Credit Agreement Eleventh Amendment also modifies certain requirements under the Credit Agreement.

A copy of the Credit Agreement Eleventh Amendment will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.

(b) Acquisition of Spectrum Group International, Inc.

On January 30, 2025, the Company entered into a merger agreement (the "SGI Agreement") to acquire Spectrum Group International, Inc. (“ SGI”). Through its subsidiary Stack’s-Bowers Numismatics LLC (d/b/a Stack’s Bowers Galleries), SGI is engaged in the businesses of in‑person, internet and specialized auctions of consigned and owned rare and other precious coins, and also sells rare coins and paper money as both a wholesale dealer to other retailers and as a direct-to-consumer marketer. The Company and SGI share a common chief executive officer, two of the Company’s executives comprise a majority of the board of SGI and several members of the board of the Company are substantial stockholders of SGI. A special committee of independent directors of the Company negotiated the transaction on behalf of the Company and recommended its approval.

Under the terms of the SGI Agreement, the Company will acquire all of the stock of SGI in a merger transaction for aggregate consideration of $92.0 million, consisting of $46.0 million in cash and $46.0 million in common stock of the Company. For purposes of the SGI Agreement, the Company’s stock will be valued at its volume weighted average price on the Nasdaq Stock Market for the five trading days ending on the date of the execution of the SGI Agreement.

The SGI Agreement contains customary representations and covenants of the