What is going on with PLBY?
PLBY will pay certain offering fees and expenses as well as fees in connection with the registration of common stock, but the company will not receive any of the proceeds from the resale of the shares by the selling stockholders.
PLBY Group owns the American lifestyle magazine Playboy. Shares of PLYB hovered around $24.86 as of Wednesday at 11:19am.
What does this mean for PLBY Group, Inc?
PLBY's public offering has been initiated by certain major shareholders, not by the company itself, and as a result it will not receive any proceeds from the sale of the stock. Although the company will not receive a cash injection, PLBY's earnings per share (EPS) will remain unchanged as no new shares are being created. In a dilutive offering, the number of shares in circulation would increase, lowering the stock price.
The offering has been initiated in connection with the company's acquisition of all of the capital stock of Honey Birdette, an Australia-based company, for aggregate consideration of $327.7 million. The total price consisted of $235 million in cash and 2,155,849 shares of PLBY's common stock, valued at $92.7 million.
On August 11, 2021, PLBY also issued 109,291 shares of common stock to S A Designer Parfums Limited based on a price of $45.75 per share. Both of these companies have the option sell their shares now, or at a time in the future.
Plby Group Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on PLBY!
PLBY Group, Inc. (""PLBY Group"") connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming PLBY Group's flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving more than $3 billion in global consumer spend annually across 180 countries. Learn more at http://www.plbygroup.com.
