PLBY Group raises $65M via rights and direct offerings; oversubscribed

Playboy, Inc.

Gross proceeds of $65M: $50M rights offering + $15M registered direct offering.
Issued 19,561,050 shares at $2.5561 per share; total subscriptions were ~$99.5M.
At least 80% of rights offering proceeds will repay senior debt; $65M total debt reduction including Dec. 2022.
RTM (largest holder) entered standstill limiting ownership to 29.99% after oversubscription.
CEO Ben Kohn fully exercised rights; backstop $10M direct offering not needed.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

Playboy, Inc. entered into Standstill Agreement with Rizvi Opportunistic Equity Fund, L.P., Rizvi Opportunistic Equity Fund (TI), L.P., Rizvi Opportunistic Equity Fund I-B, L.P., Rizvi Opportunistic Equity Fund I-B (TI), L.P., Rizvi Opportunistic Equity Fund II, L.P., Rizvi Traverse Partners LLC, Rizvi Traverse Partners II, LLC and RT-ICON FF LLC (col (effective 2023-01-30).

Action: entry
Counterparty: Rizvi Opportunistic Equity Fund, L.P., Rizvi Opportunistic Equity Fund (TI), L.P., Rizvi Opportunistic Equity Fund I-B, L.P., Rizvi Opportunistic Equity Fund I-B (TI), L.P., Rizvi Opportunistic Equity Fund II, L.P., Rizvi Traverse Partners LLC, Rizvi Traverse Partners II, LLC and RT-ICON FF LLC (col
Effective: 2023-01-30

Exact text from the filing

On January 30, 2023, PLBY Group, Inc. (the “Company”) entered into a standstill agreement (the “Standstill Agreement”) with Rizvi Opportunistic Equity Fund, L.P., Rizvi Opportunistic Equity Fund (TI), L.P., Rizvi Opportunistic Equity Fund I-B, L.P., Rizvi Opportunistic Equity Fund I-B (TI), L.P., Rizvi Opportunistic Equity Fund II, L.P., Rizvi Traverse Partners LLC, Rizvi Traverse Partners II, LLC and RT-ICON FF LLC (collectively, “RTM”) in connection with the Company’s previously announced rights offering.

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622 material agreements filed in the last 30 days. Browse all material agreements →

Playboy, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-009905

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