Welcome to our dedicated page for Plby Group news (Ticker: PLBY), a resource for investors and traders seeking the latest updates and insights on Plby Group stock.
PLBY Group, Inc. (symbol: PLBY) is a globally recognized company that connects consumers with a diverse range of products, services, and experiences designed to enhance their lifestyle. Operating in four main categories—Style and Apparel, Digital Entertainment and Lifestyle, Sexual Wellness, and Beauty and Grooming—PLBY Group leverages its iconic brand to drive revenue across multiple segments.
PLBY Group's business model is structured into three key segments: Direct-to-Consumer, Licensing, and Digital Subscriptions and Content. The company's Direct-to-Consumer segment offers products directly to customers via online platforms and retail stores, focusing on high-quality apparel and personal care items. The Licensing segment involves partnerships with other brands to extend the reach and visibility of PLBY’s diverse product lines globally. Additionally, the Digital Subscriptions and Content segment provides exclusive content and lifestyle experiences, catering to a broad spectrum of consumer interests.
In recent news, PLBY Group has made significant strides, ending the third quarter with approximately $22.0 million in restricted and unrestricted cash. This financial stability has allowed the company to focus on executing key goals and shifting towards initiatives aimed at driving profitable growth. CEO Ben Kohn has highlighted improved performance and strategic moves, such as the revitalization of the Playboy brand in China through a major joint venture, showcasing the company's commitment to reinvigorating its global presence.
PLBY Group remains dedicated to helping consumers look good, feel good, and have fun. With ongoing projects and strategic partnerships, the company continues to innovate and adapt to the evolving market trends, ensuring sustained growth and customer satisfaction. For more information or media inquiries, contact press@plbygroup.com.
Sidoti & Company has initiated coverage on LGL Systems Acquisition Corp. (NASDAQ: DFNS) and Reservoir Media (NASDAQ: RSVR). The research firm set a price target of $15 for DFNS, which is merging with IronNet Cybersecurity, expected in Q3 2021, and $14 for RSVR post its merger with Roth CH Acquisition II Co.. Sidoti aims to provide independent analysis on SPACs and De-SPACs to aid investors in their decision-making. This coverage expands Sidoti’s previous work with PLBY Group (NASDAQ: PLBY), highlighting an ongoing commitment to SPAC research.
PLBY Group, Inc. (Nasdaq: PLBY) plans to announce its second-quarter 2021 financial results on August 10, 2021, post-market close. A conference call will follow at 5:00 p.m. ET, which will be accessible via a live webcast. PLBY Group is a leader in the pleasure and leisure lifestyle sector, with its flagship brand, Playboy, being a globally recognized name. The company operates in various consumer categories, including Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming, tapping into billions in annual consumer spending.
Playboy announces its first collaboration with SuperRare, launching the Miami Beach Art Collection on July 9, 2021. This collection features animated NFTs from artists including Ayla El-Moussa and Jon Noorlander, alongside a heritage photograph from 1970. The art collection will be featured during Decentraland’s Art Week on July 10, highlighting a co-branded gallery experience. Rachel Webber, Playboy's Chief Brand Officer, expressed excitement for the partnership which continues Playboy's artistic legacy. This initiative also emphasizes Playboy's commitment to digital art in the metaverse.
PLBY Group, Inc. (NASDAQ: PLBY) has announced a partnership with Gaming Technologies, Inc. to introduce a new Playboy-branded, real-money Rummy mobile game in India, set to launch in 2021. This move is part of Playboy's strategy to tap into India's growing online gaming market, projected to reach $2.8 billion by 2022, reflecting a compound annual growth rate of 40%. The partnership aims to blend the iconic Playboy brand with the emerging skill-based gaming sector, catering to the young consumer demographic in India.
PLBY Group has announced its acquisition of Honey Birdette, a luxury lingerie brand, for approximately $333 million in cash and stock. This acquisition aims to enhance PLBY Group's brand portfolio and consumer product infrastructure, supporting its growth in sexual wellness. Honey Birdette is anticipated to generate about $73 million in revenue and $28 million in EBITDA for the year ending June 30, 2021, marking 40% and 95% growth, respectively.
PLBY Group is set to join the small-cap Russell 2000® Index and the broad-market Russell 3000® Index following the annual reconstitution, starting June 28, 2021. This milestone acknowledges PLBY Group's growth and market presence as reported by FTSE Russell. Membership in these indexes provides visibility to institutional investors and boosts the stock's credibility. CEO Ben Kohn expressed satisfaction with this inclusion, marking a significant achievement in a transformative year for the company.
On June 14, 2021, PLBY Group, Inc. announced the closing of its upsized public offering of 4,720,000 shares at $46.00 per share, raising approximately $203.3 million in net proceeds. All shares were sold by PLBY Group. The funds will be used for future growth initiatives, including acquisitions and general corporate purposes. Officers and affiliates are subject to a 90-day lock-up period. Canaccord Genuity and Stifel were joint book-running managers, with other firms acting as co-managers. The offering was filed under SEC regulations.
PLBY Group, Inc. (NASDAQ: PLBY), the parent of Playboy, announces a four-week series of Playboy-branded gaming tournaments starting June 11, 2021, on Skillz (NYSE: SKLZ). Players can compete in games like Pool Payday, Solitaire Cube, and 21 Blitz for unique Playboy merchandise. This initiative aims to engage Skillz's millions of users while enhancing Playboy's brand presence in gaming. Rachel Webber, Chief Brand Officer at Playboy, expressed excitement for the collaboration, highlighting Skillz's community-driven gaming approach.
PLBY Group announced its upsize and pricing of an underwritten public offering of 4,720,000 shares at $46.00 per share, totaling expected gross proceeds of $217.12 million. The offering, increased from a previous 4 million shares, includes a 30-day option for underwriters to buy an additional 708,000 shares. PLBY Group plans to utilize the net proceeds for future growth, including acquisitions and general corporate purposes. The offering is expected to close on June 14, 2021, subject to customary conditions.
PLBY Group, Inc. (NASDAQ: PLBY) announced a public offering of 4,000,000 shares of its common stock. The company plans to utilize the proceeds for future growth opportunities, including potential acquisitions and general corporate purposes. Additionally, PLBY Group may allow underwriters to purchase up to 600,000 additional shares. The offering is subject to market conditions and has not yet been finalized. Canaccord Genuity and Stifel are leading the offering, with several other firms acting as co-managers.
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