PLBY Group Completes $22.35 Million Private Placement

Rhea-AI Summary

PLBY Group has completed a $22.35 million private placement through the sale of 14.9 million newly issued, unregistered shares of common stock to an affiliate of Byborg Enterprises SA. The shares were sold at $1.50 per share and are subject to a one-year lock-up period, with exceptions. Following the placement, PLBY Group's total outstanding common stock reached approximately 89.59 million shares.

Positive

• Secured $22.35 million in new capital through private placement
• One-year lock-up period on new shares provides stability

Negative

• Significant shareholder dilution with 14.9 million new shares issued
• Low share price of $1.50 indicates challenging market conditions

News Market Reaction – PLBY

-6.61%

1 alert

-6.61% News Effect

On the day this news was published, PLBY declined 6.61%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

LOS ANGELES, Nov. 05, 2024 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group” or the “Company”), owner of Playboy, one of the most recognizable and iconic brands in the world, announced today the closing of its previously announced sale of 14.9 million newly issued, unregistered shares of common stock of PLBY Group, in a private placement to an affiliate of Byborg Enterprises SA, at a price of $1.50 per share, for a total purchase price of $22.35 million. The sold shares are subject to a lock-up, under which they may not be sold or pledged for one year, subject to certain limited exceptions. As of the completion of the private placement, PLBY Group had approximately 89.59 million shares of common stock outstanding.

About PLBY Group, Inc.
PLBY Group, Inc. is a global pleasure and leisure company connecting consumers with products, content, and experiences that help them lead more fulfilling lives. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable brands in the world, driving billions of dollars in global consumer spending, with products and content available in approximately 180 countries. PLBY Group’s mission—to create a culture where all people can pursue pleasure—builds upon over 70 years of creating groundbreaking media and hospitality experiences and fighting for cultural progress rooted in the core values of equality, freedom of expression and the idea that pleasure is a fundamental human right. Learn more at http://www.plbygroup.com.

Contact:

Investors: FNK IR – Rob Fink / Matt Chesler, CFA – investors@plbygroup.com
Media: press@plbygroup.com

FAQ

How much did PLBY Group raise in its November 2024 private placement?

PLBY Group raised $22.35 million through the private placement of 14.9 million shares.

What was the share price for PLBY Group's private placement?

The shares were sold at $1.50 per share in the private placement.

How many shares of PLBY Group are outstanding after the private placement?

After the private placement, PLBY Group had approximately 89.59 million shares of common stock outstanding.

What is the lock-up period for PLBY Group's private placement shares?

The shares are subject to a one-year lock-up period, during which they cannot be sold or pledged, with certain exceptions.