JAKARTA - Playboy Enterprises is reportedly going to go public again on the United States stock exchange. The trick is, they will merge with Mountain Crest Acquisition Corp.
In that action, Mountain Crest will pay Playboy magazine owners about 425 million US dollars. When it returns to the stock market, this is Playboy's comeback after nine years ago the company went closed in a $ 207 million deal led by the late founder Hugh Hefner and private equity firm Rizvi Traverse Management.
A Reuters source said the merger decision is expected to be announced at the end of this month. However, according to him, the agreement between the two parties is still gray and could fail.
Mountain Crest is currently in discussions with investors who will contribute around US $ 100 million to a deal in the form of private investment in public equity.
On the other hand, Playboy representatives declined to comment on this news. Mountain Crest Chief Executive Suying Liu was also reluctant to comment further.
For your information, this news began when Playboy stated that it was exploring going public through a special purpose acquisition company (SPAC) merger scheme. The New York Post reported on an exclusive talk between Playboy and Mountain Crest on Tuesday.
Playboy earlier this year stopped printing magazines after nearly 70 years since its founding in 1953. Their debut edition at that time featured the sexy star Marilyn Monroe.
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