BuybackJun 22, 2026, 09:32 AM
Playboy to Repurchase 16.6M Shares at $1.05 Each
AI Summary
Playboy, Inc. announced a definitive agreement to repurchase approximately 16.6 million shares of its common stock from Fortress Investment Group at $1.05 per share, totaling $17.4 million. This represents nearly 15% of outstanding shares and is at a 28% discount to market value, expected to be immediately accretive to EPS. The repurchase will occur in installments through year-end 2026, with the remaining purchase price fully backstopped by two of Playboy's largest investors.
Key Highlights
- Playboy to repurchase 16,589,531 shares of common stock.
- Repurchase price set at $1.05 per share.
- Aggregate purchase price totals $17,419,007.55.
- Represents nearly 15% of outstanding shares at a 28% discount to market value.
- Initial payment of $2,000,000 made on June 18, 2026.
- Remaining payments scheduled in three installments through December 31, 2026.
- Transaction is fully backstopped by Rizvi Traverse Management and Byborg Enterprises.
- Fortress Investment Group, a major shareholder and lender, is selling its entire equity position.
Price Impact
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