Item 8.01. Other Events.



Securities Purchase Agreement

On January 18, 2023, as previously announced, PLBY Group, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") with purchasers led by Michael Serruya at Serruya Private Equity and Broadband Capital Investments (the "Purchasers") for the sale of up to $25 million of shares of common stock of the Company, par value $0.0001 per share ("Common Stock"). Pursuant to the terms and subject to the conditions of the Securities Purchase Agreement, the Purchasers agreed to purchase $15.0 million of shares of Common Stock (the "Initial Investment") and, to the extent that the Company's previously announced rights offering is not fully subscribed, up to an additional $10.0 million (the "Backstop Investment") of shares of Common Stock, in each case at a price per share equal to the subscription price for the rights offering, which is $2.5561 per share.

Pursuant to the Securities Purchase Agreement, the Company also agreed to pay to the Purchasers (in cash, or in additional shares of Common Stock at the same price per share, or a combination thereof, at the election of each Purchaser), at the closing of the Initial Investment, a commitment fee equal to $1.25 million, regardless of the aggregate amount purchased by the Purchasers. All Purchasers elected to receive the commitment fee in additional shares of Common Stock.

On January 24, 2023, the Company issued 5,868,315 shares of Common Stock for the Initial Investment and an additional 489,026 shares of Common Stock for the commitment fee. The Company received $15 million in gross proceeds from the Initial Investment.

The shares of Common Stock were sold pursuant to a prospectus supplement to be filed with the SEC, and a related prospectus, dated September 2, 2022, filed with the SEC, relating to the Company's registration statement on Form S-3 (File No. 333-229482).

In connection with the issuance of the shares of Common Stock, the Company is filing, as Exhibit 5.1 hereto, the opinion of Skadden, Arps, Slate, Meagher & Flom LLP, counsel to the Company.





Rights Offering

The rights offering expired at 5:00 p.m., Eastern Time, on January 23, 2023 and, including guaranteed deliveries, is expected to be over-subscribed without the Backstop Investment. The subscription price is $2.5561 per share of Common Stock. In accordance with the terms of the rights offering, the Company is determining the allocations of the over-subscriptions, and the final results of the rights offering will be announced once that determination is complete.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits

The following exhibits are filed herewith:





Exhibit No.   Description

  5.1           Opinion of Skadden, Arps, Slate, Meagher & Flom LLP
  23.1          Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in
              Exhibit 5.1)

104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document).

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