ATLANTA, July 25, 2017 (GLOBE NEWSWIRE) -- Premier Exhibitions, Inc. (OTCQB:PRXIQ), the company that serves as sole legal steward of the RMS Titanic wreck site, today confirmed that it received multiple letters of intent to become the stalking horse bidder for the acquisition of the company’s operating businesses and its assets, including the priceless Titanic artifact collection. Deadline for submission of letters of intent was Friday, July 21, 2017.
Over the next several weeks, the company will assess the bidders’ qualifications with a plan to announce a designated party to become the stalking horse bidder by September 25, 2017. In the event that an auction is to be conducted, such auction will occur by November 20, 2017, at which time other potential bidders will have the opportunity to bid against the stalking horse bidder.
Among other things, bidders are competing to own the most valuable, unique collection of Titanic assets ever offered for sale. The Titanic collection consists of the only artifacts ever recovered from the wreck of the Titanic. It includes approximately 5,500 individual pieces that have been recovered from the wreck site over the course of seven deep sea dives; ownership of video footage, imagery, and other intellectual and personal property; and the opportunity, subject to approval of the US District Court for the Eastern District of Virginia, Norfolk Division, to be designated “salvor-in-possession,” permitting the owner exclusive salvage rights to the wreck and wreck site. The portfolio of artifacts, with enhancements recognizing the value of the intellectual property, was appraised at $218MM in 2014.
For more information, please visit www.titanicartifacts.com.
About Premier Exhibitions, Inc.:
Premier Exhibitions, Inc. (OTCQB:PRXIQ), located in Atlanta, GA, is a major provider of museum quality exhibitions throughout the world and a recognized leader in developing and displaying unique exhibitions for education and entertainment. The Company's exhibitions present unique opportunities to experience compelling stories using authentic objects and artifacts in diverse environments. Exhibitions are presented in museums, exhibition centers and other entertainment venues. Additional information about Premier Exhibitions, Inc. is available at www.prxi.com.