PLBY Group sells Lovers business for ~$13.5M cash; focuses on Playboy brand

Playboy, Inc.

Purchase price ~$13.5M cash; up to 23% in escrow; seller sells wholly-owned subsidiary TLA Acquisition Corp holding Lovers.
Lovers is an online and brick-and-mortar sexual wellness retailer with 40 stores in five states.
Transaction expected to close in Q4 2023 subject to customary closing conditions.
Sale represents step towards capital-light business model focused on Playboy brand.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Playboy, Inc. entered into Stock Purchase Agreement with LV Holding, LLC valued at $13,491,000 in cash (effective 2023-10-03).

Action: entry
Agreement: asset purchase
Counterparty: LV Holding, LLC
Value: $13,491,000 in cash
Effective: 2023-10-03

Exact text from the filing

On October 3, 2023, PLBY Group, Inc.’s (the “Company”) wholly-owned subsidiaries, Playboy Enterprises, Inc. (“Seller”) and TLA Acquisition Corp. (“TLA”), entered into a Stock Purchase Agreement (the “Purchase Agreement”) with LV Holding, LLC (“Buyer”) for the sale of TLA and its Lovers business.

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Playboy, Inc. filing history →

Source: SEC EDGAR

accession 0001803914-23-000075

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