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LOS ANGELES, Feb 16, 2021 (World NEWSWIRE by means of COMTEX) —
LOS ANGELES, Feb. 16, 2021 (Globe NEWSWIRE) — PLBY Team, Inc. (NASDAQ: PLBY) (the “Firm”), a top satisfaction and leisure lifestyle corporation and proprietor of Playboy, a single of the most recognizable and iconic makes in the planet, nowadays announced the appointment of Lance Barton as Chief Financial Officer, successful March 1, 2021.
Mr. Barton joins PLBY Team from Match Group, where by he served as head of Company Enhancement and Investor Relations. He joined Match Group from IAC in 2014, and helped direct a time period of sizeable advancement at Match Group, together with a 1300% improve in Match Group’s share value and a $45 billion maximize in Match Group’s industry capitalization. In excess of the program of his 13-year tenure with each Match Group and IAC, Mr. Barton led the acquisition of in excess of 30 organizations, together with the recently declared $1.725 billion acquisition of Hyperconnect.
“Lance brings a phenomenal monitor document creating extended-expression, public-enterprise shareholder price by strategic M&A and economical functions oversight, and we are delighted to welcome him to the PLBY Team staff,” stated Ben Kohn, CEO of PLBY Team. “Lance has played a essential job in the growth of Match Group’s global system and we’re psyched to bring his finance, company advancement and trader relations management to our business as we embark on our upcoming chapter of development. I have recognised Lance for quite a few decades, and am thrilled to spouse with him to continue the execution of our method to push income progress and ongoing margin expansion.”
“I am thrilled to action into the CFO role at PLBY Team at these kinds of a momentous time for the Company, as we start out this new chapter as a publicly-traded entity,” reported Mr. Barton. “The option to construct the main platform for satisfaction and leisure manufacturers is enormous, confirmed by the Firm’s important 12 months of development in 2020 and potent operational roadmap underway. I have identified Ben for lots of a long time and I couldn’t be a lot more psyched to do the job along with him and the full PLBY Group staff to leverage our strong stability sheet and newly adaptable cap construction to execute our organic and natural and inorganic expansion options, and provide lengthy-phrase shareholder benefit.”
On February 11, 2021, the Corporation began investing on Nasdaq International Industry immediately after completing its business blend with Mountain Crest Acquisition Corp. (“MCAC”), a unique function acquisition enterprise. Upon completing the merger, Mountain Crest Acquisition Corp transformed its identify to PLBY Group, Inc. and the Company closed the transaction with much more than $100 million in unrestricted cash and a newly flexible cap construction. Playboy’s return to the public marketplaces as PLBY Team offers a transformed, streamlined, and higher-progress organization, which includes its iconic brand name contracted licensing business, owned-and-operated sexual wellness goods available for sale on its owned digital commerce platforms and in in excess of 10,000 important retail retailers in the US, and a increasing selection of clothing and branded life style and electronic gaming solutions, such as 1 of the primary men’s apparel companies in China. The Corporation also recently declared the growth of its immediate-to-customer and retail keep get to with a offer to obtain a primary sexual wellness omni-channel retailer. The deal is envisioned to near in the very first quarter of 2021.
About PLBY Team, Inc.
PLBY Team, Inc. (“PLBY Team”) connects people about the earth with products and solutions, providers, and encounters to aid them look superior, experience good, and have entertaining. PLBY Team serves shoppers in 4 significant types: Sexual Wellness, Style & Attire, Gaming & Life-style, and Splendor & Grooming. PLBY Group’s flagship client brand, Playboy, is one of the most recognizable, iconic brands in the planet, driving extra than $3 billion in global buyer commit each year throughout 180 nations around the world. Master far more at http://www.plbygroup.com.
This press release incorporates “ahead-looking statements” in the that means of the “safe and sound harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995. The Company’s precise success may well vary from their anticipations, estimates, and projections and, as a result, you must not count on these forward-searching statements as predictions of potential functions. Phrases this kind of as “be expecting,” “estimate,” “undertaking,” “spending plan,” “forecast,” “anticipate,” “intend,” “strategy,” “might,” “will,” “could,” “really should,” “thinks,” “predicts,” “prospective,” “go on,” and comparable expressions (or the damaging versions of these kinds of phrases or expressions) are meant to recognize this kind of forward-wanting statements. These ahead-on the lookout statements involve, without limitation, the Firm’s expectations with respect to future performance, growth designs and predicted economical impacts of the proposed company blend and pending transactions.
These forward-searching statements contain major challenges and uncertainties that could trigger the actual results to vary materially from those people discussed in the forward-looking statements. Aspects that may well cause these discrepancies contain, but are not limited to: (1) the effect of COVID-19 pandemic on the Company’s business (2) the incapability to retain the listing of the Company’s shares of common stock on Nasdaq adhering to the business combination (3) the possibility that the organization combination or its prepared transactions disrupt the Company’s recent strategies and functions, like the hazard that the Firm does not complete any these types of prepared transactions or reach the anticipated reward from them (4) the means to figure out the predicted gains of the enterprise combination, which may well be affected by, between other points, competitiveness, the potential of the Organization to grow and handle expansion profitably, and keep its crucial employees (5) fees relevant to the company mix (6) changes in relevant regulations or laws (7) the likelihood that the Business might be adversely afflicted by other financial, organization, and/or competitive aspects (7) pitfalls relating to the uncertainty of the projected economic info of the Organization (8) risks similar to the natural and inorganic growth of the Company’s company and the timing of anticipated company milestones and (9) other hazards and uncertainties indicated from time to time in the definitive proxy assertion relating to the company mix, such as those below “Risk Things” therein, and in the Firm’s other filings with the SEC. The Firm cautions that the foregoing listing of aspects is not exclusive, and visitors ought to not to place undue reliance on any forward-hunting statements, which speak only as of the day built. The Corporation does not undertake or acknowledge any obligation or undertaking to launch publicly any updates or revisions to any ahead-searching statements to reflect any adjust in their expectations or any change in activities, conditions, or instances on which any these kinds of assertion is based mostly.
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