Playboy owner rises on $50 mln share buyback program launch

Playboy

17/05/2022 15:11

** Shares of Playboy owner  PLBY.O  rise as much as 13.8% to
$9.87, highest in a month, after co launches a $50 mln stock
buyback program
    ** Stock seeing largest one-day pct gain since mid-November 
    ** PLBY says it has secured financing for the buyback
through a private placement of preferred stock
    ** Co anticipates buyback program to last over a two-year
period; authorization is set to expire on May 31, 2024 - SEC
filing https://www.sec.gov/ix?doc=/Archives/edgar/data/1803914/000110465922061759/tm2215562d1_8k.htm
 
    ** YTD, shares down ~63% 

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))