A-Mark Precious Metals, Inc. (NasdaqGS:AMRK) entered into a definitive agreement to acquire Monex Deposit Company for $53 million on November 6, 2025. The transaction involves a combination of $19 million in cash and $14 million in A-Mark common stock. There is a holdback of 29% of the common stock to address potential indemnification claims. Additionally, the agreement includes a deferred purchase price of up to $20 million contingent on achieving specified levels of cumulative pre-tax income. Upon closing, Monex will continue to operate under the leadership of its current Chief Executive Officer, Michael Carabini, who will report directly to A-Mark Chief Executive Officer Greg Roberts.

Monex reported total revenue of $835 million for the year ended December 31, 2024, and held $630 million in assets under custody as of September 30, 2025.

The transaction is subject to customary closing conditions, including a minimum level of tangible net worth, and is expected to close within 60 days. The transaction is anticipated to be accretive, enhancing operational synergies between A-Mark and Monex.

D.A. Davidson & Co. acted as financial advisor for A-Mark Precious Metals, Inc. Frye & Hsieh LLP acted as legal advisor for A-Mark Precious Metals, Inc. Thomas J. Borchard of Brown White & Osborne LLP acted as legal advisor for Monex Deposit Company.

A-Mark Precious Metals, Inc. (NasdaqGS:AMRK) completed the acquisition of Monex Deposit Company on January 2, 2026.