Announces Successful Rights Offering and Total Capital Raise of $65 Million
Summary
The Company expects to use a minimum of 80% of the gross proceeds from the rights offering for repayment of senior debt under its credit agreement, and to use the remainder, if any, for other general corporate purposes. Such stockholders will not receive interest or a deduction on any payments refunded.Both the Companys largest beneficial owner of Common Stock, Rizvi Traverse Management (RTM), and the Companys Chief Executive Officer, Ben Kohn, (each together with their affiliates) fully exercised their basic subscription rights and exercised their over-subscription privileges in the rights offering. 333-267273) on file with the Securities and Exchange Commission (the SEC) and prospectus supplements (and the accompanying base prospectus) filed by the Company with the SEC.Jefferies LLC acted as the dealer manager in connection with the rights offering and the exclusive placement agent for the registered direct offering.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 Groups mission to create a culture where all people can pursue pleasure builds upon almost seven decades 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.This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The Company cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date which they were made.