Brief: Playboy To Become A Public Company

ConnectM Technology Solutions

01/10/2020 12:49

Mountain Crest Acquisition Corp  MCAC.O :
    * PLAYBOY TO BECOME A PUBLIC COMPANY
    * MOUNTAIN CREST ACQUISITION CORP - PLAYBOY PROJECTING
STRONG 2020
YEAR-OVER-YEAR FINANCIAL PERFORMANCE OF 68% ADJUSTED REVENUE AND
106% ADJUSTED EBITDA GROWTH
    * MOUNTAIN CREST - ANNOUNCED SIGNING OF AGREEMENTS WITH
INSTITUTIONAL & ACCREDITED INVESTORS FOR PURCHASE OF $50 MILLION
OF COMMON STOCK AT $10/SHARE
    * MOUNTAIN CREST ACQUISITION CORP - MOUNTAIN CREST WILL BE
RENAMED
AND IS EXPECTED TO REMAIN LISTED ON NASDAQ STOCK MARKET UNDER
TICKER PLBY
    * MOUNTAIN CREST ACQUISITION - PLAYBOY SHAREHOLDERS WILL BE
ENTITLED TO RECEIVE ABOUT 23.9 MILLION SHARES VALUED AT $10.00
PER SHARE IN MOUNTAIN CREST
    * MOUNTAIN CREST ACQUISITION CORP - MOUNTAIN CREST WILL BE
LED BY
BEN KOHN, PLAYBOY'S CHIEF EXECUTIVE OFFICER.
    * MOUNTAIN CREST ACQUISITION CORP - PLAYBOY HAS AGREED TO
PURCHASE
700,000 MOUNTAIN CREST FOUNDER SHARES AT $6.35 PER SHARE
    * MOUNTAIN CREST - AS PART OF TRANSACTION PLAYBOY
SHAREHOLDERS
WILL BE ENTITLED TO RECEIVE ABOUT 23.9 MILLION SHARES VALUED AT
$10.00/SHARE IN MOUNTAIN CREST
    * MOUNTAIN CREST - WILL ASSUME NET DEBT OUTSTANDING OF
APPROXIMATELY $142 MILLION, FOR A TOTAL PURCHASE PRICE OF
APPROXIMATELY $381 MILLION
    * MOUNTAIN CREST ACQUISITION CORP - BOARDS OF DIRECTORS OF
EACH OF
MOUNTAIN CREST AND PLAYBOY HAVE UNANIMOUSLY APPROVED TRANSACTION
    * MOUNTAIN CREST ACQUISITION CORP - EXISTING PLAYBOY
SHAREHOLDERS
HAVE AGREED TO A ONE YEAR LOCK UP SUBJECT TO A PARTIAL RELEASE

Source text for Eikon:  ID:nBw2l00Nsa 
Further company coverage:  MCAC.O