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After multiple competing bids, the latest offer is $35,000, which would net investors $19.04 / share, representing a 90.4% gain to the Drop Value ($18,400 or $10.00 / share) and 73.1% premium to the market cap at trading pause on 1/31/22 ($20,240 or $11.00 / share). See below for the initial offer announcement and details.
Shareholders may update their vote if they so choose by resubmitting their response via the form emailed to them.
Serena Williams is one of the greatest athletes across sports. This card from the 2003 NetPro card set consistently ranks as the top rookie card for Serena Williams, and this particular Glossy Elite variation was limited to just 100 cards produced.
$25,000, which would net investors $13.61 / share, representing a 36.1% gain to the Drop Value ($18,400 or $10.00 / share) and 23.7% premium to the market cap at trading pause on 1/31/22 ($20,240 or $11.00 / share).
PSA 10 copies of the card have sold several times in recent weeks, including a record breaking sale at PWCC ($96k, Jan. 2022), as well as sales on Alt ($71k, Feb. 2022 and $68.5k, Jan. 2022), and eBay ($65k, Jan. 2022).
An independent source from Altan Insights values a BGS 9.5 between $24k-$27k, noting that of the four BGS 9.5 graded copies of this card, this one would appraise the highest. This is because of the four BGS 9.5 graded copies, the Otis card is the only copy with a 10 sub grade, for the edges. It is 1 of 3 with an average sub grade of 9.5. The 4th card has a 9.4 average sub grade.
Submit Counteroffer: Open the asset in the app to submit your offer.
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 Saturday 2/5/22 at 5 PM 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 (2/7/22, 5pm ET):
The offer was accepted. The results of investor feedback were 89.9% approve and 10.1% reject, weighted by shares.
The final buyout price was $35,000.
The final net payout of $19.04 / share represents a return of 90.4% vs. the drop value of $10.00 / share (IPO on 5/24/21) and a 73.1% gain vs. the last traded price of $11.00 / share (at market close 1/31/22).
New drops open every week for as little as $1/share. Subscribe to stay updated.