PLBY Group, Inc. announced on April 17, 2025, the cancellation of its previously adjourned special meeting of stockholders. The decision was made because the company had still not received proxies sufficient to constitute a quorum.
The proposals intended for the special meeting, which are necessary to raise critical capital and reduce debt, have been withdrawn from consideration. These proposals will now be included in the definitive proxy statement for the company's 2025 annual meeting of stockholders, anticipated to be filed by April 30, 2025.
This cancellation represents a further delay in the company's efforts to secure essential financing and strengthen its balance sheet. The company emphasized that it cannot move forward with such financing in full until applicable stockholder approval is received at the annual meeting.
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