Loeb & Loeb represented Mountain Crest Acquisition Corp., a publicly-traded special purpose acquisition corporation, in a $381 million merger with Playboy Enterprises, Inc. The deal brings the famous lifestyle brand back to the public markets. Upon signing the definitive merger agreement, the companies also announced agreements with institutional and accredited investors for the purchase of $50 million of common stock at $10 per share. Mountain Crest will be renamed and will be listed on the Nasdaq Stock market under ticker PLBY.
Co-Chair of the firm’s Capital Markets and Corporate practice Mitch Nussbaum led the transaction.
Coverage on this transaction can be found here.