Playboy amends backstop deal; The Million to buy 4,761,905 shares for $5.0 million
On October 26, 2026, Playboy amended its backstop agreement so that The Million S.a.r.l., an affiliate of Byborg Enterprises SA and director György Gattyán, must buy all 4,761,905 shares scheduled under the repurchase agreement by November 1, 2026, for $5,000,000.25 in cash. Rizvi Master LLC's commitment on those shares was reduced to zero, and neither backstop purchaser will receive a backstop fee on them. The amendment was approved by the board and Audit Committee, and the sellers and the senior credit facility agent consented.
Key points
- Amendment No. 1 to the Backstop Agreement dated October 26, 2026; The Million must buy the 4,761,905 Tranche 3 Shares on or before November 1, 2026
- Aggregate cash consideration of $5,000,000.25, payable on or before November 1, 2026
- Rizvi's purchase commitment reduced to zero; no backstop fee to either party on Tranche 3 Shares
- Approved by the board and Audit Committee; DBD Credit Funding LLC gave prior written consent
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.