PLBY Group, Inc. announced on November 5, 2024, the closing of its previously announced sale of 14.9 million newly issued, unregistered shares of common stock. The shares were sold in a private placement to an affiliate of Byborg Enterprises SA at a price of $1.50 per share, for a total purchase price of $22.35 million.
The newly issued shares are subject to a lock-up period of one year, with certain limited exceptions. Following the completion of this private placement, PLBY Group had approximately 89.59 million shares of common stock outstanding.
This transaction provides PLBY Group with additional capital and solidifies the financial aspect of its strategic partnership with Byborg Enterprises SA. The investment supports the company's ongoing transformation towards a more capital-light business model.
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