Playboy converts all remaining Series B preferred shares to common, eliminating preferred stock outstanding

Playboy, Inc.

Converted remaining 21,000.00001 Series B shares into 12,439,730 common shares at $1.74448 per share.
Conversion price is >6% premium to Aug 21, 2025 close and >16% premium to Q4 2024 private placement.
Post-conversion: no preferred stock outstanding; 107,548,055 common shares outstanding.
Net debt ~$128M, reduction of ~$70M over past 12 months.
Undiscounted interest savings of $6.992M through remaining term of Series B (scheduled through end of 2027).

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