Core Viewpoint - PLBY Group's Board of Directors has unanimously rejected an unsolicited offer from Cooper Hefner and Hefner Capital to acquire the Playboy assets, stating that the proposal significantly undervalues these assets and is not in the best interest of the company's stockholders [1][2] Company Overview - PLBY Group, Inc. is a global pleasure and leisure company that connects consumers with products, content, and experiences aimed at enhancing their lives [2] - The company's flagship brand, Playboy, is recognized worldwide and generates billions of dollars in global consumer spending, with offerings available in approximately 180 countries [2] Strategic Direction - The Board of PLBY Group is committed to pursuing an asset-light model focused on Playboy, which is believed to better support long-term value for stockholders [2] - The company will continue to evaluate all options and opportunities for the Playboy brand [2]

Core Viewpoint - Cooper Hefner, the youngest son of Hugh Hefner, is proposing to buy back the Playboy brand for $100 million, aiming to restore it to family ownership after over seven decades since its founding [1][2]. Company Overview - Playboy Group's stock was valued at less than $1 per share recently, a significant decline from its peak of $50 per share in spring 2021, resulting in a market valuation of approximately $50 million [3]. - The company went public in 2021 through a special acquisition company but has been facing financial difficulties, including over $200 million in debt [3]. Management and Operations - Cooper Hefner plans to lead the new entity as CEO, with his investment group, which includes a hedge fund and a former licensing partner, acquiring a 10% ownership stake in the Hefner-run Playboy [2]. - Hefner criticized the current management for leading the brand to a state of "potentially nonexistence," indicating that the brand has been mismanaged and has ventured into unfamiliar business areas that do not resonate with consumers [5]. Historical Context - Playboy magazine ceased publication in 2020, ending a nearly 70-year run that began in 1953, with a peak monthly circulation of 7 million in the 1970s [4]. - The brand's decline is attributed to shrinking advertising revenues and the rise of readily available online pornography, which diminished its relevance in the 21st century [5].

Financial Data and Key Metrics Changes - The company has a gross debt outstanding of approximately $215 million and has reached an exclusivity agreement with lenders to repurchase this debt at a significant discount, which could enhance operational flexibility [20][22]. Business Line Data and Key Metrics Changes - Honey Birdette experienced a 50% reduction in the number of days on sale compared to Q4 2023, but there was margin expansion during this period. In Q3, the company reported double-digit growth compared to the previous year [18][19]. - The new e-commerce licensing agreement is expected to generate $7.5 million in guarantees over the life of the deal, plus a percentage of revenue above that [12]. Market Data and Key Metrics Changes - The company is seeing progress in its China licensing business, with new partners making strides in product development and opportunities emerging in Asia and globally [13][15]. Company Strategy and Development Direction - The company is focusing on building a robust pipeline of sponsorship deals and enhancing its digital strategy, with plans to unveil more details at an investor conference in September [6][10]. - The return of the physical magazine is primarily for promotional purposes, aimed at driving awareness for digital initiatives and featuring creators [9][10]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the robust pipeline of sponsorships and the potential for revenue contributions from new digital initiatives [5][6]. - The company is committed to rebuilding its licensing business with new partners that have better operational controls and shorter-term contracts [16][17]. Other Important Information - The company has hired a new head of stores in the U.S., which has led to improved performance in physical retail locations [19]. - The management is exploring various options for raising funds to pay down debt, including engaging an investment bank for a new debt facility [22][23]. Q&A Session Summary Question: Can you provide more details on the pipeline of sponsorship deals? - Management indicated a robust pipeline with closed deals to be announced in the fall, emphasizing the integration of creators into the advertising strategy [5][6]. Question: What is the strategy behind bringing back the physical magazine? - The magazine is seen as a promotional tool to enhance brand awareness and feature creators, with plans for a Playmate casting call [9][10]. Question: Can you elaborate on the new licensing agreement in e-commerce? - The new agreement includes $7.5 million in guarantees and aims to integrate creators with e-commerce strategies, particularly in the context of online shopping trends [12]. Question: How does the new partner structure in China differ from previous ones? - The new partners are operator managers rather than middlemen, with shorter contracts and greater revenue sharing, aimed at rebuilding the business effectively [15][16]. Question: What is the outlook for Honey Birdette? - Despite a weaker quarter, management noted improvements in U.S. retail performance and online business, with a focus on leveraging social channels for growth [18][19]. Question: What is the capital allocation strategy moving forward? - The company is considering various options for debt repayment, including potential asset sales and new debt facilities [21][22].

The Company will publish a press release discussing the quarter, including remarks from management, and then, at 5 p.m. Eastern Time, will host an analyst question and answer session, which will be webcast. This format allows the webcast to be conversational and more focused on top questions rather than on prepared remarks. 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 co ...

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 forwardlooking statements as predictions of future events. Words such as "expect", "estimate", "project", "budget", "forecast", "anticipate", "intend", "plan", "may", "will", "could", "should", ...

PLBY Group, Inc. (NASDAQ:PLBY) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Matt Chesler - Investor Relations Ben Kohn - Chief Executive Officer Marc Crossman - Chief Operating Officer and Chief Financial Officer Conference Call Participants Jason Tilchen - Cannacord Genuity Greg Pendy - Chardan Operator Good day and welcome to the PLBY Group's [First] (ph) Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39312 PLBY Group, Inc. (Exact name of registrant as specified in its charter) Delaware 37-1958714 (State or other jurisdiction o ...

Exhibit 99.1 PLBY Group Reports First Quarter 2024 Financial Results Execution of Key Goals and Improved Performance Stabilizes the Business; Focus Shifts to Initiatives to Drive Profitable Growth LOS ANGELES – May 9, 2024 (GLOBE NEWSWIRE) – PLBY Group, Inc. (NASDAQ: PLBY) ("PLBY Group" or the "Company"), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced results for the quarter ended March 31, 2024. Operational ...

LOS ANGELES, April 30, 2024 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ:PLBY) ("PLBY Group" or the "Company"), a leading pleasure and leisure lifestyle company and owner of Playboy, announced that its China joint venture (the "China JV") has entered into several new licensing agreements with unrelated, third-parties based in China, representing a major step by the China JV to reinvigorate the Playboy brand in China. The series of new agreements is highlighted by a five-year license agreement with Guandong ...

LOS ANGELES, April 29, 2024 (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, will report first quarter 2024 financial results on Thursday, May 9, 2024, after the U.S. stock market closes. The Company will publish a press release discussing the quarter, including remarks from the Company's management, and then, at 5:00 p.m. Eastern Time, will h ...