Trading card market PWCC secures $175M from WhiteHawk for capital lending program expansion

—Funding Agreement Adds Liquidity for Loans and Cash Advances to Clients Using Trading Cards as Collateral—

PORTLAND, Oregon., September 7, 2022 /PRNewswire/ — PWCC Marketplace, LLCthe market leader in trading card investingwith affiliates PWCC Services, LLC and PWCC Vault, LLC (collectively, “PWCC”), has established a $175 million asset-based credit facility (the “Funding”) led by WhiteHawk Capital Partners, LP as lead arranger and sole bookrunner and Wingspire Capital LLC as revolving agent. DA Davidson & Co. acted as exclusive financial advisor to PWCC for the financing.

PWCC will use proceeds from the financing to create additional liquidity for its growing trade finance business, which offers a menu of loan and cash advance offers to clients using trading cards as collateral.

“Demand for PWCC’s commercial finance services has reached such a level that partnering with industry leaders in asset-based finance solutions makes strategic sense,” 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 very successful funding program in an emerging industry and is an exciting strategic partnership for all parties.

“PWCC’s management team has built a best-in-class, full-service auction, storage and lending platform,” said Rob Chimenti, CEO of White Hawk. “We are thrilled to be a part of their growth and success as an innovative industry leader in the emerging collectibles sector.”

“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 Gevutz, managing director at DA Davidson. “We are very pleased to have worked with PWCC’s leadership team on this partnership. We see a bright future for PWCC as it grows and expands its global footprint.”

PWCC leads the industry in the approach of treating trading cards as a tangible asset class. The company has developed several market indices – the PWCC 100, PWCC 500 and PWCC 2500 – to track the performance of trading cards as an alternative investment. The PWCC 500 is up 902% compared to January 2008 through March 2022.

PWCC was founded in 1998 and 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 the launch of its platform, PWCC has added more than 150,000 registered customers, launched a series of new technologies to benefit users and seen the value of assets stored in its vault increase by more of $750 million.

“This funding further validates the collectible 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, Managing Director and Head of Debt Advisory at DA Davidson. “We are delighted to have worked with PWCC and WhiteHawk on this crucial institutional fundraising for the company.”

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

About PWCC:

PWCC Marketplace, LLC provides the trading card investment market with state-of-the-art analytical tools, multiple perfect market offerings for every asset class, secure vault storage with asset valuation and insurance, and a full menu of capital lending services. PWCC customers enjoy access to the PWCC Vault – a highly secure bank-style vault located in Oregona sales tax-free state – a unique mailing address for each Vault account, a digital wallet of their trading card assets, one-click selling on each PWCC marketplace, and access to capital loans using their collection of trading cards as collateral.

Founded in 1998, PWCC maintains its status as the world’s leading auction innovator by consistently delivering new technologies, products and services that enhance the hobby for investors and collectors looking to safely buy, sell and store auctions. assets.

For more information about PWCC, visit pwccmarketplace.comand follow: twitter.com/PWCCmarketplace, instagram.com/pwccmarketplace, facebook.com/PWCCmarketplace, tiktok.com/@pwccmarketplace, youtube.com/c/PWCCMarketplaceand linkedin.com/company/pwcc-marketplace-llc

About WhiteHawk:

WhiteHawk Capital Partners, LP is a private credit investment manager focused on asset-based financing solutions primarily for middle-market private and public companies in a variety of industries. WhiteHawk provides senior secured financing under various structures for refinancing, recapitalization, growth, acquisition, restructuring, transition and DIP/emergence purposes. For more information, visit www.whitehawkcapital.com.

About Davidson:

DA Davidson & Co. is an employee-owned financial services company providing a range of financial and advisory services to individuals, businesses, institutions and municipalities nationwide. Founded in 1935, the company has approximately 1,525 employees and offices in 27 states. DA Davidson’s investment banking division is a leading full-service investment bank offering comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across four verticals: consumer, diversified industries, financial institutions and technology.

SOURCE Market PWCC