Mountain Crest Acquisition Corp (MCAC) Shareholders Approve Playboy Deal
by Nicholas Alan Clayton on 2021-02-09 at 3:39pm

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.

 

Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved