DA Davidson Acts as Exclusive Financial Advisor to Major Trading Card Market PWCC on its $175 Million Credit Facility with WhiteHawk Capital | New

NEW YORK–(BUSINESS WIRE)–Sept. 8, 2022–

DA Davidson & Co. today announced that it is serving as the exclusive financial advisor to leading trading card marketplace PWCC Marketplace, LLC, as well as its subsidiaries PWCC Services, LLC and PWCC Vault, LLC (collectively PWCC) on a new $175 million asset-backed credit facility (the financing) led by WhiteHawk Capital Partners, LP as lead arranger and sole bookrunner and Wingspire Capital LLC as revolving agent.

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PWCC will use proceeds from the financing to create additional liquidity for its growing trade finance business, which offers loan and cash advance offerings to customers using trading cards as collateral. (Graphic: Business Wire)

PWCC will use proceeds from the financing to create additional liquidity for its growing trade finance business, which offers loan and cash advance offerings to customers using trading cards as collateral. Founded in 1998, PWCC is a leading technology innovator in the world of auctions, constantly offering new products and services, including state-of-the-art auction technology, third-party auction security, high-resolution images and data. ‘sales history, which enable its clients to better buy, sell and securely store assets.

“PWCC’s commercial finance demand has reached a level where partnering with industry leaders in asset-based finance solutions makes strategic sense for all parties involved,” said Brent Huigens, Founder and CEO. of PWCC. “Our clients now have additional capital options presented to them as part of their PWCC Vault accounts, the company can continue to innovate around its capital practices, we have access to experts in the field of financing and WhiteHawk is exposed to a high performance financing program. in an emerging sector. It is a strategic partnership that is exciting for all parties.

“This partnership will help shape the future landscape of collectible asset-backed lending,” said Chad Fister, chief financial officer of PWCC. “We are extremely grateful to the team at DA Davidson for their endless dedication and professionalism, and we couldn’t be happier to partner with WhiteHawk.”

PWCC has become a leader in trading cards and collectibles. This growth culminated with the launch of a standalone marketplace in 2021 offering innovative loan and collections management tools integrated into the platform. In the year since launching its platform, PWCC has added more than 150,000 registered customers, launched a host of new technologies to benefit users and seen the value of assets stored in its vault soar. over $750 million.

“PWCC is a global market leader in trading cards and related collectibles and has successfully transitioned into a dynamic technology and software company,” said Brad Gevurtz, Group Managing Director, Technology Investment Banking, DA Davidson. “We are very pleased to have worked with PWCC’s management team on this transaction and to see a bright future for the business as it grows and expands its global footprint.”

“This funding further validates the trading card asset class as a liquid market with a growing universe of buyers and sellers in which PWCC continues to be a leader and innovator,” said Amy Johnson, Head of debt counsel and managing director of DA Davidson. “We are delighted to have worked with PWCC and WhiteHawk on this crucial institutional fundraising for the company.”

About DA Davidson Companies

DA Davidson Companies is an employee-owned financial services company providing a range of financial services and advice to individuals, businesses, institutions and municipalities nationwide. Founded in 1935 with headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.

Subsidiaries include: DA Davidson & Co., a full-service investment firm providing wealth management, investment banking, capital markets and fixed income services, and advice; Davidson Investment Advisors, a professional asset management firm; DA Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser that provides fixed income portfolio and advisory services.

For more information, visit dadavidson.com.

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CONTACT: Transaction team contacts

Amy Johnson, Head of Debt Advisory and Managing Director | New York |[email protected]

Brad Gevurtz, Managing Director, Technology Investment Banking Group | Portland |[email protected]

Steven Fleisher, Vice President, Debt Consulting | New York |[email protected] Contact

Andreea Popa, Capital Markets Marketing Manager |[email protected]

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY FINANCE OTHER RETAIL CONSULTING OTHER TECHNOLOGY PROFESSIONAL SERVICES INTERNET RETAIL ONLINE RETAIL

SOURCE: DA Davidson & Co.

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PUBLISHED: 08/09/2022 16:40/DISC: 08/09/2022 16:40

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