NASDAQ
Topps to return to NASDAQ as publicly traded company
You will soon have another way to trade Topps.
After a record-setting $567 million in sales in 2020 -- a 23-percent increase over the previous year -- the company is going public after a merger with Mudrick Capital Acquisition. The $1.3 billion company will be traded as TOPP on NASDAQ once the deal closes later this year.
The company has been publicly traded before. On Oct. 12, 2007, it was purchased by Michael Eisner's The Tornante Company LLC and Madison Dearborn Partners LLC with shareholders receiving $9.75 per share (approximately $3.85 million.) Eisner, the former chairman and CEO of Disney before chairing Topps, will become chairman of the combined company’s board of directors.
“The strong emotional connection between the Topps brand and consumers of all ages is truly foundational, and, when combined with our growing portfolio of strategic licensing partnerships, creates a profitable business model with meaningful competitive advantages," Eisner said in a prepared release. "Equally important, the management team at the helm of Topps, which we’ve been building for the last 14 years, is outstanding, with deep roots in sports and entertainment, digital, gift cards and confections.
Board Buzz: Must-read threads on Blowout Forums (April 6)
The Blowout Cards Forums are where thousands of collectors converge daily to discuss, well, a little bit of everything. Here are a few threads about collecting and more that you should check out right now.
What's Buzzing: Topps goes public, big pulls, Yermin Mercedes, pondering the All-Star move, NBA breaks and more.
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