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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 10, 2000
COLLECTORS UNIVERSE, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 33-0846191
(STATE OR OTHER JURISDICTION COMMISSION FILE NUMBER: 0-27887 (I.R.S. EMPLOYER
OF INCORPORATION) IDENTIFICATION NUMBER)
1936 DEERE STREET, SANTA ANA, CALIFORNIA 92705
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (949) 567-1234
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On March 10, 2000, Collectors Universe, Inc. (the "Company") consummated the
purchase of substantially all of the assets of Auctions by Bowers and Merena,
Inc., Bowers and Merena Galleries, Inc. and Bowers and Merena Research, Inc.,
collectively ("Bowers and Merena"). The effect of these simultaneous
transactions was the acquisition of the businesses conducted by Bowers and
Merena. Bowers and Merena was a privately held company based in Wolfeboro, New
Hampshire. Total consideration was $8.0 million in cash and 1,000,000 shares of
Collectors Universe, Inc. common stock. Funds for this acquisition were obtained
from the Company's cash balances. The acquisition will be accounted for under
purchase accounting.
Bowers and Merena was founded in 1986 and conducts auctions of rare coins and
sells rare coins at retail and through mail order. Bowers and Merena will
operate as a division of the Company. Prior to this transaction, the two owners
of Bowers and Merena, Q. David Bowers and Raymond N. Merena, owned an aggregate
of approximately 292,000 shares of common stock of the Company. and Mr. Bowers
held stock options to purchase 531,598 shares of common stock. Subsequent to the
transaction, Mr. Bowers was granted an additional stock option for 500,000
shares of common stock and was elected to the Board of Directors of the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired.
(1) Information required pursuant to Rule 3-05 (b) of
Regulation S-X is not currently available and will be
filed on or before May 25, 2000
(b) Proforma financial information.
(1) Information required pursuant to Article 11 of
Regulation S-X is not currently available and will be
filed on or before May 24, 2000.
(c) Exhibits
10.1 Asset Purchase Agreements between Collectors
Universe, Inc. and Auctions by Bowers and Merena,
Inc., Bowers and Merena Galleries, Inc. and Bowers
and Merena Research, Inc.
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SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COLLECTORS UNIVERSE, INC.
Date: March 21, 2000 /S/ Gary N. Patten
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Gary N. Patten, Vice President
and Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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10.1 Asset Purchase Agreements between Collectors Universe,
Inc. and Auctions by Bowers and Merena, Inc., Bowers
and Merena Galleries, Inc. and Bowers and Merena
Research, Inc.