PLBY Group Announces Equity Investment By Byborg Enterprises SA; Byborg Enterprises Agrees to Purchase 14.9M Shares Of PLBY At $1.50/Share And Signs Non-Binding LOI To License Digital IPAand Operate Select Playboy Digital Assets With Commitment Of $300M Minimum Guaranteed Payments Over Initial 15-Year Term
Portfolio Pulse from Benzinga Newsdesk
PLBY Group has announced an equity investment by Byborg Enterprises SA, which will purchase 14.9 million shares of PLBY at $1.50 per share. Additionally, Byborg has signed a non-binding letter of intent to license digital IP and operate select Playboy digital assets, committing to $300 million in minimum guaranteed payments over a 15-year term.
October 31, 2024 | 12:32 pm
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PLBY Group has secured a significant equity investment from Byborg Enterprises, which will purchase 14.9 million shares at $1.50 each. This deal includes a non-binding LOI for licensing digital IP and operating select Playboy digital assets, with a commitment of $300 million in guaranteed payments over 15 years.
The equity investment by Byborg Enterprises at a set price per share provides immediate capital to PLBY Group, potentially stabilizing or boosting its stock price. The long-term commitment to license digital assets with significant guaranteed payments suggests a positive outlook for PLBY's digital strategy.
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