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Benzinga
Benzinga
Business
Shivani Kumaresan

PLBY Group Adopts $50M Stock Buyback Program

  • PLBY Group Inc (NASDAQ:PLBY) Board of Directors has authorized a $50 million common stock repurchase program after securing financing through a private placement of preferred stock.
  • “This repurchase program reflects our confidence in our reimagined Playboy brand, transformed business model, and progress against our long-term growth objectives,” said CEO Ben Kohn.
  • Related: Playboy Parent Shares Pop Post Q1 Results
  • Price Action: PLBY shares are trading higher by 10.7% at $9.60 on the last check Tuesday.
  • Photo Via Wikipedia Commons
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