- PLBY Group ( NASDAQ: PLBY ) has secured a $25M capital commitment from a group of investors led by Michael Serruya at Serruya Private Equity and Broadband Capital Investments.
- The purchasers will purchase $15M of shares, par value $0.0001 per share, based on the final rights offering subscription price.
- Additionally, they will purchase up to $10M of shares at the same subscription price to the extent the rights offering is not fully subscribed.
- Also, the pleasure and leisure company will pay a commitment fee equal to $1.25M to the purchasers, in cash or in additional shares or a combination thereof.
- The investment is subject to the closing of a previously announced rights offering , among other conditions. The subscription period for the rights offering is set to expire on Jan. 23.
- The net proceeds from the rights offering and the investment are intended to be used for repayment of senior debt under its credit agreement and general corporate purposes.
- Source: Press Release
For further details see:
PLBY Group secures $25M capital commitment