 |
FNK IR handles PLBY Group as it rejects a $100M bid by Cooper Hefner and his investment firm for the rights to its Playboy brand.
The unsolicited offer “substantially undervalues” Playboy’s assets, according to PLBY CEO Ben Kohn.
While PLBY’s board understands and is appreciative of the interest in Playboy’s “unparalleled brand,” it will continue to pursue a focused and “asset-light model” to create long-term value for stakeholders.
Hefner is the son of Playboy founder, Hugh. He launched the bid due to his "personal connection" to the brand. The senior Hefner died in 2017 at the age of 91.
PLBY posted a $9.2M operating loss on Q2 revenues of $24.8M.
FNK IR managing director Rob Fink and partner Matt Chesler represent PLBY.
Catalyst IR handles Mobix Labs as it signs a “non-binding letter of intent” to acquire Special Project Delivery LLC, a privately-owned platform with positions in US rare earth properties.
The Blueshirt Group handles Lime as the San Francisco-based electric bike/scooter company has filed paperwork for an initial public offering, which will have an expected valuation in the $2B range.
Why CEOs need their CFOs and CCOs on the same page.
ICR handles Rare Earths Americas as the Manchester, Georgia-based company plans an initial public offering valued in the $370M range.
