Mountain Crest Acquisition and Playboy Enterprises announced that stockholders redeemed 8,842 shares, representing less than 0.2% of Mountain Crest’s issued and outstanding shares, in advance of the merger vote.
As a result, Mountain Crest anticipates that approximately $58.7 million will be released from the trust account to PLBY Group immediately following the closing of the transactions. Combined with $50 million in committed PIPE investments, Mountain Crest and Playboy expect that PLBY Group will receive approximately $108.6 million in gross proceeds following the closing of the transactions before payment of transaction expenses.
Mountain Crest shareholders are expected to vote on the proposed business combination tomorrow, Feb. 9. Read more.
