Mountain Crest (NASDAQ:MCAC) announced that its shareholders have approved its combination with Playboy Enterprises at a special meeting earlier today.
The parties already announced yesterday that just 8,842 (about 0.2%) shares were redeemed by the deadline ahead of the vote, which teased a fruitful vote ahead.
Mountain Crest expects to close the deal February 10. The combined entity is to be renamed the PLBY Group, with shares expected to begin trading on the Nasdaq under the symbol “PLBY” on February 11.
Mountain Crest initially announced its $413.3 million combination with Playboy on October 1. The iconic brand is currently transitioning its business model away from its legacy media holdings towards licensed consumer products leveraging the brand as well as sexual wellness items.
In case you missed SPACInsider‘s webinar and Q&A with the management of Playboy and Mountain Crest on January 29, a replay of the webinar may be watched HERE.
ADVISORS
- Roth Capital Partners is acting as joint placement agent and M&A advisor to Playboy.
- Jones Day is acting as legal counsel to Playboy.
- Craig-Hallum Capital Group LLC is acting as joint placement agent and M&A advisor to Mountain Crest.
- Loeb & Loeb LLP is acting as legal counsel to Mountain Crest.
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