PLBY Group signs 15-year licensing deal with Byborg for $300M minimum guarantees and $25M equity stake

Playboy, Inc.

Byborg to operate Playboy Plus, Playboy TV, and Playboy Club under exclusive 15-year license; minimum guaranteed royalties of $20M/year ($300M total) plus 25% net profit share.
Byborg affiliate commits to purchase $25M of PLBY common stock at $1.50/share, subject to stockholder approval and price adjustment mechanism if 5-day VWAP above $1.65.
Byborg previously purchased 14.9M shares on Nov 5, 2024 for $22.35M; combined holdings capped at 29.99% post-closing with lock-up until Nov 5, 2025.
PLBY expects transition to asset-light model, significant cost reductions, and positive EBITDA/cash flow by June 30, 2025.
Board expansion to 7 directors; Byborg to nominate one director and one mutually agreed independent director.

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