Mountain Crest Acquisition Corp

NASDAQ:MCAC   11:22:30 AM EDT
10.05
-0.02 (-0.22%)
Other Pre-Announcement, Mergers / Acquisitions

Playboy To Become A Public Company

Published: 10/01/2020 11:55 GMT
(MCAC) - Playboy to Become a Public Company.
Mountain Crest Acquisition Corp - Playboy Projecting Strong 2020 Year-over-year Financial Performance of 68% Adjusted Revenue and 106% Adjusted EBITDA Growth.
Mountain Crest - Announced Signing of Agreements With Institutional & Accredited Investors for Purchase of $50 Million of Common Stock at $10/share.
Mountain Crest Acquisition Corp - Mountain Crest Will Be Renamed and is Expected to Remain Listed on Nasdaq Stock Market Under Ticker Plby.
Mountain Crest Acquisition - Playboy Shareholders Will Be Entitled to Receive About 23.9 Million Shares Valued at $10.00 per Share in Mountain Crest.
Mountain Crest Acquisition Corp - Mountain Crest Will Be Led by Ben Kohn, Playboy's Chief Executive Officer.
Mountain Crest Acquisition Corp - Playboy Has Agreed to Purchase 700,000 Mountain Crest Founder Shares at $6.35 per Share.
Mountain Crest - As Part of Transaction Playboy Shareholders Will Be Entitled to Receive About 23.9 Million Shares Valued at $10.00/share in Mountain Crest.
Mountain Crest - Will Assume Net Debt Outstanding of Approximately $142 Million, for a Total Purchase Price of Approximately $381 Million.
Mountain Crest Acquisition Corp - Boards of Directors of Each of Mountain Crest and Playboy Have Unanimously Approved Transaction.
Mountain Crest Acquisition Corp - Existing Playboy Shareholders Have Agreed to a One Year Lock Up Subject to a Partial Release.