Business
PLBY Group Announces Common Stock Repurchase Program
LOS ANGELES, May 17, 2022 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group” or the “Company”), a leading pleasure and leisure lifestyle
About this update from Playboy, Inc.
[{"type":"text","content":"LOS ANGELES, May 17, 2022 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group” or the “Company”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced its Board of Directors has authorized a $50 million common stock repurchase program after having secured financing through a private placement of preferred stock. Additional details are to be provided in a Current Report on Form 8-K the Company will file with the Securities and Exchange Commission. “This repurchase program reflects our confidence in our reimagined Playboy brand, transformed business model, and progress against our long-term growth objectives,” said PLBY Group Chief Executive Officer Ben Kohn. “We believe this is a great opportunity to create long-term, sustainable value for our shareholders.” The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended, or discontinued at any time. About PLBY Group, Inc. PLBY Group, Inc. (“PLBY Group” or the “Company”) is a global pleasure and leisure company connecting consumers with products, content, and experiences that help them lead more fulfilling lives. Our flagship consumer brand, Playboy, is one of the most recognizable brands in the world, driving billions of dollars annually in global consumer spending with products and content available in approximately 180 countries. Our mission — to create a culture where all people can pursue pleasure — builds upon almost seven decades of creating groundbreaking media and hospitality experiences and fighting for cultural progress rooted in the core values of equality, freedom of expression and the idea that pleasure is a fundamental human right. Learn more at http://www.plbygroup.com. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,”...