Playboy explores deal to return to the stock market

REUTERS: Playboy magazine owner Playboy Enterprises is exploring options that include going public through a merger with a blank-check acquisition company, according to people familiar with the matter.

Playboy is working with an investment bank to engage in discussions with a potential SPAC buyer, the sources said. A deal, if one is reached, would give Playboy access to money it needs to finance growth initiatives that it otherwise might not be able to tap, one of the sources said. The sources spoke on condition of anonymity because the talks are confidential.

Hefner, who founded Playboy in 1953, died in 2017 at the age of 91. His family sold a 35per cent stake in Playboy to Rizvi Traverse for US$35 million in 2018, according to PitchBook data.Playboy magazine's rabbit silhouette became one of the best known logos in the world and the"bunny" waitresses in Hefner's Playboy nightclubs were instantly recognizable in their low-cut bathing suit-style uniforms with bow ties, puffy cotton tails and pert rabbit ears.

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