PLBY Group, Inc. (NASDAQ:PLBY) (“PLBY Group” or the “Company”) announced today that it secured a $25 million capital commitment (the “Investment”) led by Michael Serruya at Serruya Private Equity and Broadband Capital Investments (the “Purchasers”). The Investment is subject to certain closing conditions set forth in a securities purchase agreement, including the closing of the previously announced rights offering. At the closing of the Investment, the Purchasers will purchase $15 million of common stock of the Company, par value $0.0001 per share (“Common Stock”), based on the final rights offering subscription price, as described below (the “Initial Investment”). In addition, the Purchasers will purchase up to $10 million of shares at the same subscription price to the extent the rights offering is not fully subscribed. All purchases of Common Stock by the Purchasers will be limited as necessary to comply with applicable Nasdaq rules.
Why Is European Drugmaker Argenx Stock Sinking Today?
Argenx SE (NASDAQ: ARGX) shares plunged after the company released topline results from the ADDRESS Phase 3 study evaluating efgartigimod subcutaneous (SC) (efgartigimod alfa and hyaluronidase-qvfc) in adults with pemphigus vulgaris (PV) and
