EL SEGUNDO, Calif., Sept. 02, 2020 (GLOBE NEWSWIRE) — A-Mark Valuable Metals, Inc. (NASDAQ: AMRK), a number one full-service supplier of services and products to the worldwide treasured metals market, has expanded its current credit score facility from $220 million to $257.5 million. The expanded credit score facility will develop into efficient on September 2, 2020 and matures on March 26, 2021. Rabobank acted as Administrative Agent, Bookrunner and Joint Lead Arranger.
“The expanded credit score facility displays the continued assist from our lending companions and supplies us with extra liquidity to deal with greater commodity costs and elevated exercise ranges within the present atmosphere,” mentioned A-Mark CEO, Greg Roberts.
Extra particulars of the credit score facility settlement can be found within the firm’s present report on Kind 8-Ok, which might be filed with the U.S. Securities and Alternate Fee by September 4, 2020.
About A-Mark Valuable Metals
Based in 1965, A-Mark Valuable Metals, Inc. (NASDAQ: AMRK) is a number one full-service treasured metals buying and selling firm and wholesaler of gold, silver, platinum and palladium bullion and associated merchandise. The corporate’s international buyer base contains sovereign and personal mints, producers and fabricators, refiners, sellers, monetary establishments, industrial customers, buyers, collectors, and e-commerce and different retail prospects. The corporate conducts its operations via three complementary segments: Wholesale Buying and selling & Ancillary Companies, Secured Lending, and Direct Gross sales.
A-Mark operates a number of enterprise items in its Wholesale Buying and selling & Ancillary Companies phase, together with Industrial, Coin and Bar, Buying and selling and Finance, Transcontinental Depository Companies (TDS), Logistics, and the Mint (as extra totally described beneath). Its Industrial unit companies producers and fabricators of merchandise using treasured metals, whereas its Coin and Bar unit offers in over 200 totally different merchandise for distribution to sellers and different certified purchasers. As a U.S. Mint-authorized purchaser of gold, silver and platinum cash, A-Mark purchases bullion merchandise immediately from the U.S. Mint on the market to prospects. A-Mark additionally has distributorships with different sovereign mints, together with Australia, Austria, Canada, China, Mexico, South Africa and the UK. Via its TDS subsidiary, A-Mark supplies prospects with quite a lot of managed storage choices for treasured metals worldwide. Via its A-M World Logistics subsidiary, A-Mark supplies prospects an array of complementary companies, together with receiving, dealing with, inventorying, processing, packaging and transport of treasured metals and customized cash on a safe foundation. A-Mark additionally holds a majority stake in a three way partnership that owns the minting operations often known as SilverTowne Mint (Mint), which designs and produces minted silver merchandise which give higher product choice to prospects, value stability inside the provide chain in addition to extra secured entry to silver throughout unstable market environments.
The corporate operates its Secured Lending phase via its wholly-owned subsidiaries, Collateral Finance Company (CFC) and AM Capital Funding, LLC (AMCF). Based in 2005, CFC is a licensed finance lender that originates and acquires loans secured by bullion and numismatic cash. Its prospects embrace coin and treasured steel sellers, buyers, and collectors. AMCF was fashioned in 2018 for the aim of securitizing eligible secured loans of CFC.
A-Mark operates its Direct Gross sales phase primarily via its wholly-owned subsidiary Goldline Inc. (Goldline), a direct retailer of treasured metals for the investor group. Goldline markets A-Mark’s treasured steel merchandise via varied channels, together with radio, tv, and the Web.
A-Mark is headquartered in El Segundo, California, with places of work and services in Los Angeles, California, Vienna, Austria, Las Vegas, Nevada, and Winchester, Indiana. For extra data, go to www.amark.com.
Vital Cautions Relating to Ahead-Wanting Statements
Statements on this press launch that relate to future plans, targets, expectations, efficiency, occasions and the like are “forward-looking statements” inside the that means of the Personal Securities Litigation Reform Act of 1995 and the Securities Alternate Act of 1934. Future occasions, dangers and uncertainties, individually or within the mixture, might trigger precise outcomes to vary materially from these expressed or implied in these statements. Components that would trigger precise outcomes to vary embrace the next: the failure to execute our development technique as deliberate; higher than anticipated prices incurred to execute this technique; adjustments within the present worldwide political local weather which has favorably contributed to demand and volatility within the treasured metals markets; elevated competitors for our greater margin companies, which might depress pricing; the failure of our enterprise mannequin to answer adjustments out there atmosphere as anticipated; basic dangers of doing enterprise within the commodity markets; and different enterprise, financial, monetary and governmental dangers as described in within the firm’s public filings with the Securities and Alternate Fee.
The phrases “ought to,” “imagine,” “estimate,” “anticipate,” “intend,” “anticipate,” “foresee,” “plan” and related expressions and variations thereof establish sure of such forward-looking statements, which communicate solely as of the dates on which they have been made. Moreover, any statements associated to future improved efficiency and estimates of revenues and earnings per share are forward-looking statements. The corporate undertakes no obligation to publicly replace or revise any forward-looking statements. Readers are cautioned to not place undue reliance on these forward-looking statements.
Thor Gjerdrum, President
A-Mark Valuable Metals, Inc.
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