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.
A tie-up with Mountain Crest would result in Playboy's return to the stock market, nine years after it went private in a US$207 million deal led by its late founder Hugh Hefner and private equity firm Rizvi Traverse Management.Mountain Crest, a special purpose acquisition company , could announce a deal with Playboy by the end of this month, the sources said on Wednesday, cautioning that talks could still collapse.
The sources requested anonymity as the discussions are private. A Playboy representative declined to comment. Mountain Crest Chief Executive Suying Liu had no comment when contacted by phone. Executives at Rizvi Traverse did not immediately respond to requests for comment.
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