PLBY Group Converts 25% of Preferred Shares to Common at $1.85 Per Share

Core Viewpoint - PLBY Group, Inc. has converted 25% of its Series B Convertible Preferred Stock into common stock as part of its balance sheet streamlining and deleveraging efforts [1][2]. Group 1: Conversion Details - The company converted 7,000 shares of its 28,000 Series B Stock into 3,784,688 shares of Common Stock at a conversion price of $1.85 per share, which is approximately a 23% premium to the previous securities purchase agreement price [2]. - Following the conversion, the outstanding shares of Series B Stock were reduced to 21,000, while the total shares of Common Stock increased to 93,736,325 [2]. Group 2: Future Actions - The company may consider converting additional Series B Stock in the future based on the price of Common Stock or redeeming more Series B Stock for cash [3]. Group 3: Company Overview - PLBY Group, Inc. is a global pleasure and leisure company, with its flagship brand, Playboy, recognized worldwide and available in approximately 180 countries [4]. - The company's mission focuses on creating a culture where individuals can pursue pleasure, rooted in values of equality and freedom of expression [4].