REUTERS: Playboy Enterprises is nearing a deal to go public through a merger with Mountain Crest Acquisition Corp , which would value the owner of Playboy magazine at around US$425 million, including debt, people familiar with the matter said.
Mountain Crest is in discussions with investors who would contribute around US$100 million to the deal in the form of a private investment in public equity, or PIPE, transaction, the sources said. Reuters reported last week that Playboy was exploring going public through a SPAC merger. The New York Post reported the exclusive talks with Mountain Crest on Tuesday.Mountain Crest raised US$50 million in an initial public offering earlier this year with the goal of buying a private company, which would then become public as a result of the deal. SPACs have emerged in 2020 as an increasingly popular route to public markets over a traditional IPO.
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