Mountain Crest Acquisition Corp and Playboy Enterprises, Inc. Announce Board Appointments
February 10, 2021 at 03:35 am IST
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As previously reported, on September 30, 2020, Mountain Crest Acquisition Corp. (MCAC or the "company"), entered into an agreement and plan of merger, by and among MCAC, MCAC Merger Sub Inc. ("Merger Sub"), Suying Liu (solely with respect to Section 7.2 and Article XI of the Merger Agreement) and Playboy Enterprises, Inc. ("Playboy"). Upon the closing of the transactions contemplated in the Merger Agreement, Merger Sub will merge with and into Playboy (the "Merger") with Playboy surviving the Merger as a wholly owned subsidiary of MCAC. In addition, in connection with the consummation of the Business Combination, MCAC will be renamed "PLBY Group, Inc." The transactions contemplated under the Merger Agreement relating to the Merger are referred to in this proxy statement as the "Business Combination" and the combined company after the Business Combination is referred to in this proxy statement as the "Combined Company”. On February 9, 2021, the company held a special virtual meeting of its stockholders. At the meeting the stockholders elected, effective as of the consummation of the Business Combination Suhail Rizvi, Ben Kohn, Suying Liu, Tracey Edmonds and James Yaffe to serve on the Combined Company Board of Directors.
PLBY Group, Inc. is a global pleasure and leisure company. The Company operates through three segments: Direct-to-Consumer, Licensing and Digital Subscriptions and Content. Its Direct-to-Consumer segment operates through its owned-and-operated e-commerce platform, retail stores and sales of its products through third-party retailers. The Licensing segment includes trademark licenses for third-party consumer products, location-based entertainment businesses and online gaming. Its Digital Subscriptions and Content segment comprises the Playboy Club, its creator-led platform on playboy.com, and Playboyâs adult content offerings, including playboyplus.com and playboy.tv. In addition, Playboy TV is offered through multiple-system operators (MSOs) around the globe, including U.S. MSOs DIRECTV, Comcast, Dish, Charter, Cox, Altice, and Mediacom. Its offerings are focused on four areas: sexual wellness, style and apparel, digital entertainment and lifestyle and beauty and grooming.