Core Viewpoint - Kaskela Law LLC is investigating the proposed merger between A-Mark Precious Metals, Inc. and Spectrum Group International, Inc. to assess its fairness to A-Mark investors [1][3]. Group 1: Merger Details - A-Mark announced on February 3, 2025, that it agreed to acquire 100% of Spectrum's stock in a transaction valued at $92 million [2]. - The acquisition will be financed using 50% cash and 50% A-Mark common stock [2]. Group 2: Legal Investigation - The investigation aims to determine if A-Mark's officers and/or directors violated securities laws in the acquisition agreement and if all material information regarding the transaction is disclosed to A-Mark's investors [3]. - A-Mark shareholders are encouraged to contact Kaskela Law LLC for more information about their legal rights and options [4].

Core Points - A-Mark Precious Metals, Inc. has appointed Cary Dickson as Chief Financial Officer effective July 1, 2025, after Kathleen Simpson-Taylor's retirement [1][2] - The Board of Directors has extended the contracts of President Thor Gjerdrum and COO Brian Aquilino for an additional three years, through June 30, 2028 [4] Management Changes - Cary Dickson, who previously served as CFO from November 2015 to September 2019, will re-join A-Mark as Executive Vice President on May 2, 2025, before assuming the CFO role [1][2] - Kathleen Simpson-Taylor has been acknowledged for her contributions during her tenure, which saw transformational growth for the company [3] - Dickson expressed excitement about returning to A-Mark and focusing on strategic priorities, including capital efficiency and integration initiatives [3] Company Overview - A-Mark Precious Metals, founded in 1965, is a fully integrated precious metals platform offering a range of products including gold, silver, platinum, palladium, and copper [5] - The company operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending [5][12] - A-Mark has a global customer base that includes mints, manufacturers, refiners, dealers, financial institutions, and retail customers [5] Business Operations - The Wholesale Sales & Ancillary Services segment purchases and distributes precious metal products, including being a U.S. Mint-authorized purchaser since 1986 [6][7] - The Direct-to-Consumer segment operates multiple websites targeting specific niches within the precious metals retail market [11] - A-Mark's Secured Lending segment provides loans secured by bullion and numismatic coins through its subsidiary, Collateral Finance Corporation [12]

EL SEGUNDO, Calif., April 04, 2025 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, maintaining the company's current dividend program. The dividend is payable on April 29, 2025, to stockholders of record as of April 15, 2025. On April 1, 2025, A-Mark completed the acquisition of the 90% of AMS Holding, LLC (AMS) not previously ...

Core Viewpoint - A-Mark Precious Metals, Inc. has declared a quarterly cash dividend of $0.20 per share and completed the acquisition of 90% of AMS Holding, LLC, enhancing its position in the precious metals market [1][2]. Company Overview - A-Mark Precious Metals, Inc. is a fully integrated precious metals platform founded in 1965, offering a variety of bullion and numismatic products through wholesale and retail channels [3]. - The company operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending [3]. Recent Developments - A-Mark announced a quarterly cash dividend of $0.20 per share, maintaining its current dividend program, payable on April 29, 2025 [1]. - The acquisition of AMS Holding, LLC, which generated total revenue of $203.8 million and adjusted EBITDA of $9.3 million in 2024, strengthens A-Mark's market presence [2]. Business Segments - The Wholesale Sales & Ancillary Services segment purchases and distributes precious metal products from various mints, including the U.S. Mint, and sells over 200 different products to various customers [4]. - The Direct-to-Consumer segment operates multiple online platforms and brands, including JM Bullion and Goldline, targeting different niches within the precious metals market [8]. - The Secured Lending segment, through Collateral Finance Corporation, provides loans secured by bullion and numismatic coins to dealers and collectors [9]. Subsidiaries and Operations - A-Mark's subsidiary, Stack's Bowers Galleries, is involved in rare coin and currency auctions, while Pinehurst Coin Exchange operates as a broker for precious metals [5]. - A-Mark's logistics subsidiary offers managed storage and secure handling of precious metals, enhancing customer service [7].

Core Viewpoint - Kaskela Law LLC is investigating the proposed merger between A-Mark Precious Metals, Inc. and Spectrum Group International, Inc. to assess its fairness to A-Mark investors [1]. Group 1: Merger Details - A-Mark announced on February 3, 2025, that it will acquire 100% of Spectrum's stock in a transaction valued at $92 million [2]. - The acquisition will be financed using 50% cash and 50% A-Mark common stock [2]. Group 2: Legal Investigation - The investigation aims to determine if A-Mark's officers and/or directors violated securities laws in the merger agreement and if all material information regarding the transaction is disclosed to investors [3]. - A-Mark shareholders are encouraged to contact Kaskela Law LLC for more information about their legal rights and options [4].

Core Viewpoint - A-Mark Precious Metals, Inc. is expanding its presence in the collectible coin market through strategic acquisitions, which are expected to enhance gross margins and attract new customers during periods of low bullion volatility [1][13]. Group 1: Acquisition Details - A-Mark acquired 100% of Spectrum Group International, Inc. (SGI) for $92.0 million, consisting of $46.0 million in cash and $46.0 million in A-Mark stock valued at $27.51 per share [2][12]. - The company agreed to pay $50.0 million in cash for the remaining 90% of AMS Holding, LLC (AMS), with potential additional payments based on performance benchmarks [3][12]. - A-Mark paid $6.5 million in cash to acquire 51% of Pinehurst Coin Exchange, Inc. and may pay up to an additional $5.3 million based on performance [4][12]. Group 2: Company Overviews - AMS has a strong sales and marketing engine with over 500,000 customers, generating total revenue of $203.8 million and adjusted EBITDA of $9.3 million for the year ended December 31, 2024 [7][12]. - Pinehurst generated approximately 35% of its revenue from retail activities, with total revenue of $215.8 million and EBITDA of $7.7 million for the year ended December 31, 2024 [10][12]. - A-Mark's subsidiary LPM Group Limited is a leading precious metals dealer in Asia, expanding its operations to Singapore [5][20]. Group 3: Strategic Importance - The acquisitions of AMS and Pinehurst are aligned with A-Mark's vision to penetrate the luxury market and integrate several hundred thousand new customers into its ecosystem [13][14]. - The acquired businesses are expected to benefit from A-Mark's global sourcing network and logistics platform, enhancing their operational capabilities [13][14]. - A-Mark's CEO emphasized the potential for accretive earnings from these acquisitions, particularly during periods of limited bullion market volatility [13][14].

Core Points - Kaskela Law LLC is investigating A-Mark Precious Metals, Inc. on behalf of the company's shareholders [1] - A-Mark announced an agreement to acquire 100% of Spectrum Group International, Inc. for a total transaction value of $92 million, intending to finance it with 50% cash and 50% common stock [2] - The investigation aims to determine if A-Mark's officers and/or directors violated securities laws regarding the acquisition and if all material information about the transaction is properly disclosed to investors [3] Company Information - A-Mark Precious Metals, Inc. is involved in a significant acquisition of Spectrum Group International, Inc. valued at $92 million [2] - The financing structure for the acquisition includes 50% cash and 50% common stock, indicating a balanced approach to funding [2] Legal Context - The investigation by Kaskela Law LLC focuses on potential violations of securities laws by A-Mark's leadership in relation to the acquisition [3] - Shareholders are encouraged to seek information regarding their legal rights and options related to the investigation [4]

Group 1 - A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is highlighted for the first time since April of the previous year, indicating renewed interest in the stock [2] - The stock has experienced a positive price movement following the initial article, suggesting favorable market conditions or investor sentiment [2] - The Insiders Forum focuses on small and mid-cap stocks with significant insider purchases, aiming to outperform the Russell 2000 benchmark over time [2] Group 2 - The Insiders Forum portfolio consists of 12-25 top stocks across various sectors that are attractively valued [2] - The portfolio has successfully doubled the return of its benchmark, the Russell 2000, since its launch [1]

Financial Performance - The Company reported revenues of $9.7 billion for the fiscal year 2024, indicating significant growth in its operations [300]. - Revenues for the three months ended December 31, 2024, were $2,742,345, representing a 31.9% increase from $2,078,815 in 2023 [328]. - Revenues for the six months ended December 31, 2024 increased by $894.0 million, or 19.6%, to $5.457 billion from $4.563 billion in 2023 [340]. - Revenues for the three months ended December 31, 2024 increased by $465.2 million, or 27.2%, to $2.173 billion from $1.708 billion in 2023 [379]. - Revenues for the six months ended December 31, 2024 increased by $533.1 million, or 13.8%, to $4.400 billion from $3.867 billion in 2023 [384]. - Revenues for the Direct-to-Consumer segment increased by 51.8% to $1,057,112,000 for the six months ended December 31, 2024, compared to $696,177,000 in 2023 [411]. - Revenues for the three months ended December 31, 2024 increased by $198.4 million, or 53.5%, to $569.0 million from $370.6 million in 2023 [417]. Profitability - Gross profit decreased to $44,767, or 1.632% of revenue, down from $46,041, or 2.215% of revenue, reflecting a 2.8% decline [328]. - Gross profit for the six months ended December 31, 2024 decreased by $7.2 million, or 7.6%, to $88.2 million from $95.4 million in 2023 [346]. - Gross profit for the three months ended December 31, 2024 decreased by $4.2 million, or 17.4%, to $19.7 million from $23.9 million in 2023, primarily due to lower premium spreads and trading profits [388]. - For the six months ended December 31, 2024, gross profit decreased by $12.5 million, or 23.9%, to $39.7 million from $52.2 million in 2023, attributed to lower premium spreads and trading profits [391]. - The overall gross margin percentage for the six months ended December 31, 2024 decreased by 47.6 basis points to 1.616% from 2.092% in 2023 [347]. - The gross margin percentage for the three months ended December 31, 2024 decreased by 49.0 basis points to 0.908% from 1.398% in 2023 [388]. - The gross margin percentage for the six months ended December 31, 2024 decreased by 73.6 basis points to 1.798% from 2.534% in the prior year [392]. Net Income - Net income attributable to the Company fell by 52.4% to $6,558 compared to $13,766 in the prior year [328]. - Net income attributable to the Company for the six months ended December 31, 2024 was $15.542 million, a decrease of $17.051 million or 52.3% compared to $32.593 million in 2023 [332]. - Net income before provision for income taxes decreased by 21.1% to $11,195,000 for the six months ended December 31, 2024, down from $14,193,000 in 2023 [411]. - Net income for the six months ended December 31, 2024, was $14,392, a decrease of $18,552 or 56.3% compared to $32,944 in 2023 [465]. Customer Metrics - The number of new customers grew by 31.8% to 120,700 in the six months ended December 31, 2024, compared to 91,600 in 2023 [411]. - The total number of customers reached 3,187,500, a 30.6% increase from 2,439,900 in 2023 [411]. - The number of new customers increased by 12,900, or 24.6%, to 65,400, and the total number of customers increased by 747,600, or 30.6%, to 3,187,500 [421]. - The number of active customers increased by 27,200, or 11.2%, to 270,000 from 242,800 in 2023 [428]. Sales Volume - The number of gold ounces sold increased by 3.6% to 466,000, while silver ounces sold decreased by 17.9% to 21,828,000 [329]. - Gold ounces sold for the six months ended December 31, 2024 decreased by 81,000 ounces, or 8.6%, to 864,000 ounces from 945,000 ounces in 2023 [341]. - Silver ounces sold for the six months ended December 31, 2024 decreased by 14,676,000 ounces, or 25.8%, to 42,277,000 ounces from 56,953,000 ounces in 2023 [341]. - Gold ounces sold for the three months ended December 31, 2024 increased by 12,000 ounces, or 3.6%, to 346,000 ounces from 334,000 ounces in 2023 [380]. - Silver ounces sold for the three months ended December 31, 2024 decreased by 5,399,000 ounces, or 23.7%, to 17,410,000 ounces from 22,809,000 ounces in 2023 [380]. - Gold ounces sold for the six months ended December 31, 2024 decreased by 94,000 ounces, or 13.2%, to 618,000 ounces from 712,000 ounces in 2023 [385]. - Silver ounces sold for the six months ended December 31, 2024 decreased by 16,796,000 ounces, or 33.5%, to 33,370,000 ounces from 50,166,000 ounces in 2023 [385]. Expenses - Selling, general, and administrative expenses for the three months ended December 31, 2024 increased by $3.4 million, or 15.0%, to $25.8 million from $22.4 million in 2023 [349]. - Selling, general, and administrative expenses for the six months ended December 31, 2024 increased by $8.1 million, or 18.4%, to $52.4 million from $44.2 million in 2023 [350]. - Selling, general, and administrative expenses for the three months ended December 31, 2024 increased by $0.8 million, or 7.9%, to $11.4 million from $10.6 million in 2023 [393]. - Selling, general, and administrative expenses for the six months ended December 31, 2024 increased by $5.3 million, or 23.9%, to $27.6 million from $22.3 million in 2023 [438]. Interest Income and Expense - Interest income increased by 7.7% to $6,794, while interest expense rose by 1.9% to $10,363 [328]. - Interest income for the six months ended December 31, 2024 was $13.881 million, an increase of $1.468 million or 11.8% compared to $12.413 million in 2023 [332]. - Interest income for the three months ended December 31, 2024 increased by $0.6 million, or 15.4%, to $4.1 million from $3.6 million in 2023 [397]. - Interest expense for the three months ended December 31, 2024 increased by $1.1 million, or 16.0%, to $8.1 million from $7.0 million in 2023, primarily due to increased borrowings [399]. - Interest expense for the six months ended December 31, 2024 increased by $0.4 million, or 1.8%, to $20.4 million from $20.0 million in 2023 [359]. - Interest expense for the six months ended December 31, 2024 decreased by $0.7 million, or 37.7%, to $1.2 million from $1.9 million in 2023 [442]. Inventory and Turnover - The inventory turnover ratio improved to 2.2, up 15.8% from 1.9 [329]. - The inventory turnover ratio for the six months ended December 31, 2024 increased by 9.3% to 4.7 from 4.3 in 2023 [348]. Strategic Initiatives - The Company acquired LPM, one of Asia's largest precious metals dealers, in February 2024, enhancing its global reach [287]. - The Company focuses on growth through strategic acquisitions and expanding its geographic presence and product offerings [300]. - The Company operates in three reportable segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending [280]. Market Conditions - The Company operates in a high volume/low margin industry, with revenues significantly impacted by product volume, market prices, and market volatility [308]. - The Company utilizes forward contracts for selling precious metals, which are included in revenues, impacting revenue recognition significantly [306]. Non-GAAP Measures - The Company utilizes non-GAAP measures such as adjusted net income before provision for income taxes and EBITDA to evaluate financial performance [323]. - Adjusted net income before provision for income taxes for the three months ended December 31, 2024 was $13.4 million, a decrease of $8.4 million or 38.5% from $21.7 million in 2023 [456]. - Adjusted net income before provision for income taxes for the six months ended December 31, 2024 was $28.1 million, a decrease of $20.4 million or 42.0% from $48.5 million in 2023 [456]. Cash Flow - Net cash provided by operating activities for the three months ended December 31, 2024 was $110.1 million, an increase of $167.5 million or 291.7% from $(57.4) million in 2023 [463]. - Net cash used in operating activities improved significantly, decreasing by $84,209 or 82.8%, from $(101,667) in 2023 to $(17,458) in 2024 [465]. Assets and Liabilities - As of December 31, 2024, approximately 79% of the company's assets were liquid, including cash and receivables [467]. - The Trading Credit Facility provides access to $422.5 million, with a maturity date of September 30, 2026 [471]. - Product financing arrangements increased by $34,193, from $517,744 in June 2024 to $551,937 in December 2024 [475]. - Liabilities on borrowed metals rose by $1,895, from $31,993 in June 2024 to $33,888 in December 2024 [474].

Financial Performance - Q2 FY 2025 revenues increased 32% to $2.742 billion from $2.079 billion in Q2 FY 2024[10] - Q2 FY 2025 net income attributable to the company decreased 52% to $6.6 million from $13.8 million in Q2 FY 2024[10] - Q2 FY 2025 diluted earnings per share totaled $0.27, a 53% decrease compared to $0.57 in Q2 FY 2024[10] - Adjusted net income before provision for income taxes for Q2 FY 2025 decreased 38% to $13.4 million from $21.7 million in Q2 FY 2024[10] - EBITDA for Q2 FY 2025 decreased 35% to $16.2 million from $25.1 million in Q2 FY 2024[10] - Revenues increased 32% to $2.742 billion from $2.079 billion in the same year-ago quarter[44] - Net income attributable to the Company totaled $6.6 million or $0.27 per diluted share, compared to net income of $13.8 million or $0.57 per diluted share in the same year-ago quarter[50] - Adjusted net income before provision for income taxes for the three months ended December 31, 2024 totaled $13.4 million, a decrease of $8.4 million or 38% compared to $21.7 million in the same year-ago quarter[51] - EBITDA for the three months ended December 31, 2024 totaled $16.2 million, a decrease of $8.9 million or 35% compared to $25.1 million in the same year-ago quarter[52] - Revenues for the three months ended December 31, 2024, were $2,742,345, an increase of 32% compared to $2,078,815 for the same period in 2023[82] - Net income attributable to the Company for the three months ended December 31, 2024, was $6,558, a decrease of 52.3% from $13,766 in 2023[82] - Net income for the six months ended December 31, 2024 was $14,392,000, down 56.3% from $32,944,000 in the same period of 2023[91] Revenue and Sales Metrics - Gold ounces sold for the three months ended December 31, 2024 increased 4% to 466,000 ounces from 450,000 ounces for the same period in 2023[33] - Silver ounces sold for the three months ended December 31, 2024 decreased 18% to 21.8 million ounces from 26.6 million ounces for the same period in 2023[33] - Direct-to-Consumer new customers for the three months ended December 31, 2024 increased 25% to 65,400 from 52,500 for the same period in 2023[33] - Direct-to-Consumer average order value for the three months ended December 31, 2024 increased $960, or 43% to $3,178 from $2,218 for the same period in 2023[33] - Direct-to-Consumer segment contributed 21% of the consolidated revenue in the fiscal second quarter of 2025[44] - Direct-to-Consumer active customers for the six months ended December 31, 2024 increased 11% to 270,000 from 242,800 for the same period in 2023[47] Expenses and Costs - Selling, general and administrative expenses increased 15% to $25.8 million from $22.4 million in the same year-ago quarter[46] - Selling, general and administrative expenses increased 18% to $52.4 million from $44.2 million in the same year-ago period[55] - Depreciation and amortization expense increased 67% to $9.3 million from $5.6 million in the same year-ago period[56] - Acquisition costs increased by 40.7% to $688,000 in Q4 2024 from $489,000 in Q4 2023[89] - Amortization of acquired intangibles rose by 75.1% to $3,790,000 in Q4 2024 compared to $2,165,000 in Q4 2023[89] Cash Flow and Assets - Cash and cash equivalents decreased to $37,768 as of December 31, 2024, from $48,636 as of June 30, 2024[80] - The Company reported a net cash used in operating activities of $17,458 for the six months ended December 31, 2024, compared to $101,667 in 2023[85] - Net cash provided by operating activities increased by 291.7% to $110,071,000 in Q4 2024 from a cash outflow of $57,405,000 in Q4 2023[89] - Total assets as of December 31, 2024, were $1,869,302, an increase from $1,827,820 as of June 30, 2024[80] - Total liabilities increased to $1,203,511 as of December 31, 2024, compared to $1,165,964 as of June 30, 2024[80] - The Company’s inventories increased to $642,259 as of December 31, 2024, from $579,400 as of June 30, 2024[80] Strategic Initiatives - The company is nearing completion of the A-Mark Global Logistics facility expansion and logistics initiatives[3] - A-Mark entered into a definitive agreement to acquire Spectrum Group International, expanding its presence in the premium collectible markets[4] - The company amended its Trading Credit Facility to increase the revolving commitment to $457 million from $422.5 million[5] - The Company plans to continue focusing on product financing arrangements and market expansion strategies in the upcoming quarters[79] Other Financial Metrics - Interest income increased 8% to $6.8 million from $6.3 million in the same year-ago quarter[48] - Interest income for the six months ended December 31, 2024, rose to $13,881, an 11.8% increase from $12,413 in 2023[88] - Net income before provision for income taxes for the three months ended December 31, 2024, was $8,016, a decrease of 56.5% from $18,428 in 2023[86] - Adjusted net income before provision for income taxes (non-GAAP) fell by 38.5% to $13,363,000 in Q4 2024 compared to $21,728,000 in Q4 2023[89] - Adjusted net income before provision for income taxes (non-GAAP) for the six months ended December 31, 2024 decreased by 42.0% to $28,147,000 compared to $48,507,000 in 2023[91] - Earnings before interest, taxes, depreciation, and amortization (non-GAAP) for the six months ended December 31, 2024 was $34,006,000, a decline of 38.8% from $55,544,000 in 2023[91] - Unrealized losses on foreign exchange for the three months ended December 31, 2024, were $840, compared to gains of $105 in 2023, a change of 900.0%[86] - The Company reported a net loss from equity method investments of $2,410 for the three months ended December 31, 2024, compared to earnings of $777 in 2023, a decline of 410.2%[86]