Playboy went private a decade ago in a $207 million deal led by late founder Hugh Hefner and private equity firmRizvi Traverse Management. In addition to raising money through the sale of stock, Mountain Crest Acquisition is also hoping to raise funds through the Playboy IPO with investors who contribute around $100 million to the deal in the form of a private investment in public equity (PIPE) transaction. The boards of both Playboy and Mountain Crest Acquisition have approved the deal.

On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia. 

https://www.nasdaq.com/articles/7-hot-spac-ipos-to-buy-before-election-day-2020-11-02