Monterey Capital Acquisition Corporation (MCAC) News

MCAC - Playboy is going public! Trading to begin on Thursdsy with new ticker symbol "PLBY"


Mountain Crest Acquisition Corp (NASDAQ: MCAC) (“Mountain Crest”), a publicly traded special purpose acquisition company, announced today that in a special meeting of stockholders on February 9, 2021, its stockholders voted to approve its proposed business combination (the “business combination”) with Playboy Enterprises, Inc. (“Playboy”), owner of one of the largest and most recognizable lifestyle brands in the world.

MCAC - Looks like we are expecting the completion to be mid February.

"Ben Kohn, Chief Executive Officer of Playboy, stated, “We are delighted to enter the final weeks of our go-public process, launch our next phase of growth as a public company and do so under the ‘PLBY Group’ banner.”
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn."

... NEW YEAR, NEW VIBE ... $MCAC

2021 IS HERE.

Playboy Enterprises is set to return to the public markets via a SPAC merger with Mountain Crest Acquisition.

The merger is valued at $381 million, including net debt outstanding of $142 million.

Playboy will trade under the ticker PLBY, and the deal is expected to close in the first quarter of 2021. 

Mountain Crest Acqui (MCAC)
10.19 ? 0.0 (0.00%)
Volume: 23,571 @12/03/20 5:37:51 PM EST
Bid Ask Day's Range
10.2 13.0 10.1533 - 10.20

... we have the extremely valuable due diligence ...

Playboy Enterprises is in exclusive talks with Mountain Crest Acquisition, a blank check company headed by Chinese national Suying Liu, that would enable the once-iconic brand to return as a publicly traded company, The New York Post's Keith Kelly reports. A key ambition of the firm would be to expand into sexual wellness products, including those that treat erectile dysfunction, the author notes. The company also hopes its media holdings will help it branch into other areas, including liquor and cannabis, and has already begun marketing a CBD product, the report adds.

Read more at:
https://thefly.com/n.php?id=3164948