PLBY Group exchanges ~$65M of loans for Series B Convertible Preferred Stock; amends credit agreement

Playboy, Inc.

Issued 28,000 shares of Series B Convertible Preferred Stock in exchange for $6.4M Tranche A and $58.9M Tranche B loans.
Preferred stock carries 12% annual dividend, convertible into common at $1.50–$4.50 per share, mandatory redemption by Dec 31, 2027.
Amendment No. 3 reduces credit facility principal to ~$152.4M and sets interest margin at 6.25% + 0.10% over SOFR.
Certificate of Elimination filed for Series A Preferred Stock (no shares outstanding).

item 1.01 item 3.02 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Playboy, Inc.: Filed Certificate of Elimination to eliminate matters related to Series A Preferred Stock from the Charter (effective 2024-11-12).

Change: charter amendment
Effective: 2024-11-12

Exact text from the filing

On November 12, 2024, the Company filed a Certificate of Elimination to its Second Amended and Restated Certificate of Incorporation (the “ Charter ”) with the Secretary of State of the State of Delaware eliminating from the Charter all matters set forth in the Certificate of Designation with respect to its Series A Preferred Stock (the “ Series A Preferred Stock ”).

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188 governance changes filed in the last 30 days. Browse all governance changes →

Playboy, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-119206

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