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The Nike Air Jordan 1 is the sneaker that started it all. Originally released in 1985 as MJ’s first signature sneaker, the Air Jordan 1 helped pave the way for the most popular sneaker franchise of all time. This collection includes 5 of the original colorways produced in 1985, preserved in brand new condition.
$66,861, which would net investors $67.01/ share, representing a 103.1% gain to the Drop Value ($33,000 or $33.00 / share) and 33.9% premium to the market cap at trading pause on Tuesday, 10/19 ($50,050 or $50.05 / share).
We looked at public purchase data found between StockX and Sotheby's. The sum of most recent sales for these shoes would suggest a fair market value of $70,361.
However, due to the scarcity of deadstock pairs of these shoes (which are 36 years old), there are few recent comparable sales (only 2 of the 5 shoes had comparable sales in 2021). Consequently, basing current FMV on most recent sales may not be entirely accurate.
StockX + Sotheby's Last Sale Links:
Bred: $15,000 on 8/27/20
Royal: $16,461 on 1/25/21
Chicago: $20,000 on 8/10/21
Neutral Grey: $6,930 on 12/3/20
Black/White: $11,970 on 12/3/20
Submit Counteroffer: Get in touch with our team here.
Join the Conversation: Chat with other Otis members about this offer on Discord.
Trading has been placed on hold pending investor feedback related to the offer. We asked shareholders to provide feedback by Thursday, October 28th at 1pm ET.
The Otis team will approve or reject the offer based on a number of factors, including shareholder vote, recent sales, and trading price on Otis. If the buyout is approved, investors will be eligible to receive a payout into their Otis cash account once the transaction is finalized.
RESULT (10/28/21, 5pm ET):
The offer was rejected. The results of investor feedback were 61.6% reject and 38.4% approve, weighted by shares.
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