PLBY Group Announces Adjournment of Special Meeting of Stockholders

Rhea-AI Summary

PLBY Group announced the adjournment of its Special Meeting of Stockholders on March 20, 2025, due to lack of required quorum. The meeting will reconvene virtually on April 17, 2025 at 1:00 p.m. Eastern Time.

The Special Meeting's proposals remain unchanged from the proxy statement filed with the SEC on February 4, 2025. Stockholders of record as of January 23, 2025, can attend via webcast and vote through various channels. Both Institutional Shareholder Services Inc. and Glass Lewis recommend voting 'FOR' all proposals, aligning with the Board's recommendation.

Previously submitted proxies remain valid unless properly revoked. Stockholders who haven't voted yet are encouraged to do so by April 16, 2025, at 11:59 p.m. Eastern Time.

Positive

• Leading proxy advisory firms ISS and Glass Lewis support all proposals

Negative

• Failed to achieve required quorum for Special Meeting
• Meeting delay could indicate lack of shareholder engagement

LOS ANGELES, March 20, 2025 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (Nasdaq: PLBY) (the “Company” or “PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced that its Special Meeting of Stockholders (the “Special Meeting”), held on March 20, 2025 at 1:00 p.m. Eastern Time, was convened and adjourned without any business being conducted, due to lack of the required quorum.

The Special Meeting will reconvene virtually on April 17, 2025 at 1:00 p.m. Eastern Time to provide its stockholders additional time to vote on the proposals described in the proxy statement filed with the Securities and Exchange Commission (the “SEC”) on February 4, 2025. No changes have been made in the proposals to be voted on by stockholders at the Special Meeting. Stockholders will be able to attend the reconvened Special Meeting via a live audio webcast by visiting http://www.virtualshareholdermeeting.com/PLBY2025SM and logging on to the webcast with their 16-digit control number included on their Notice of Internet Availability or their proxy card (if they received a paper copy of the proxy materials) or an email if one was sent to them to obtain their records and to vote.

The record date for determining stockholder eligibility to vote at the Special Meeting will remain the close of business on January 23, 2025. Proxies previously submitted will be voted at the Special Meeting unless properly revoked, and stockholders who have already submitted a proxy or otherwise voted need not take any action. Stockholders may cast their votes by visiting http://www.proxyvote.com or by calling 1-800-690-6903 before the reconvened Special Meeting, or going to http://www.virtualshareholdermeeting.com/PLBY2025SM during the reconvened Special Meeting.

The Company’s Board of Directors unanimously recommends that stockholders vote “FOR” all proposals. In addition, leading independent proxy advisory firms Institutional Shareholder Services Inc. and Glass Lewis issued reports that recommend the stockholders of the Company vote “FOR” all proposals in the Company’s Special Meeting proxy statement. The Company encourages all stockholders of record as of the close of business on January 23, 2025 who have not yet voted to do so by April 16, 2025 at 11:59 p.m. Eastern Time.

Additional information and where to find it:

In connection with the Special Meeting, the Company filed relevant materials with the SEC, including its definitive proxy statement on Schedule 14A (the “Proxy Statement”). This press release is not a substitute for the Proxy Statement or any other document that the Company may file with the SEC or send to its stockholders in connection with the Special Meeting. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE SPECIAL MEETING. Stockholders are able to obtain the Company’s filings with the SEC free of charge at the SEC’s website: http://www.sec.gov.

About PLBY Group, Inc.

PLBY Group, Inc. is a global pleasure and leisure company connecting consumers with products, content, and experiences that help them lead more fulfilling lives. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable brands in the world, with products and content available in approximately 180 countries. PLBY Group’s mission—to create a culture where all people can pursue pleasure — builds upon over 70 years of creating groundbreaking media and hospitality experiences and fighting for cultural progress rooted in the core values of equality, freedom of expression and the idea that pleasure is a fundamental human right. Learn more at http://www.plbygroup.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believes”, “predicts”, “potential”, “continue”, and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Factors that may cause such differences include, but are not limited to: (1) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq; (2) the risk that the Company’s completed or proposed transactions disrupt the Company’s current plans and/or operations, including the risk that the Company does not complete any such proposed transactions or achieve the expected benefits from any transactions; (3) the ability to recognize the anticipated benefits of corporate transactions, commercial collaborations, commercialization of digital assets, cost reduction initiatives and proposed transactions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, and the Company’s ability to retain its key employees; (4) costs related to being a public company, corporate transactions, commercial collaborations and proposed transactions; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by global hostilities, supply chain delays, inflation, interest rates, foreign currency exchange rates or other economic, business, and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information of the Company, including changes in the Company’s estimates of cash flows and the fair value of certain of its intangible assets, including goodwill; (8) risks related to the organic and inorganic growth of the Company’s businesses, and the timing of expected business milestones; (9) changing demand or shopping patterns for the Company’s products and services; (10) failure of licensees, suppliers or other third-parties to fulfill their obligations to the Company; (11) the Company’s ability to comply with the terms of its indebtedness and other obligations; (12) changes in financing markets or the inability of the Company to obtain financing on attractive terms; and (13) other risks and uncertainties indicated from time to time in the Company’s annual report on Form 10-K, including those under “Risk Factors” therein, and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date which they were made. The Company does not undertake any obligation to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Contact:

Investors: FNK IR – Rob Fink / Matt Chesler, CFA – investors@plbygroup.com
Media: press@plbygroup.com

FAQ

When is PLBY Group's rescheduled Special Meeting of Stockholders?

PLBY Group's Special Meeting is rescheduled for April 17, 2025, at 1:00 p.m. Eastern Time, to be held virtually.

Why was PLBY Group's Special Meeting adjourned on March 20, 2025?

The meeting was adjourned due to lack of the required quorum of stockholders.

What is the record date for PLBY stockholders to be eligible to vote?

The record date remains January 23, 2025, for determining stockholder eligibility to vote at the Special Meeting.

How can PLBY stockholders participate in the reconvened Special Meeting?

Stockholders can attend via live audio webcast at virtualshareholdermeeting.com/PLBY2025SM using their 16-digit control number.

What are the proxy advisory firms' recommendations for PLBY's Special Meeting proposals?

Both ISS and Glass Lewis recommend stockholders vote 'FOR' all proposals, in line with the Board's recommendation.