SCHEDULE: Fortress Affiliates Boost Playboy Stake to 15.4%

A group of entities affiliated with Fortress Investment Group LLC has reported a beneficial ownership of up to 15.4% of Playboy, Inc.'s common stock.

Summary

• Entities associated with Fortress Investment Group LLC, including Drawbridge Special Opportunities Fund LP and its related advisors and general partners, have reported beneficial ownership of Playboy, Inc. common stock.
• The largest reported beneficial ownership is 16,589,531 shares, representing 15.4% of the class, held by FIG LLC and its controlling entities.
• Drawbridge Special Opportunities Advisors LLC reported beneficial ownership of 15,273,025 shares, equating to 14.2% of the class.
• Drawbridge Special Opportunities Fund LP, Drawbridge Special Opportunities GP LLC, and Fortress Principal Investment Holdings IV LLC each reported beneficial ownership of 15,072,683 shares, representing 14.0% of the class.
• The percentages are calculated based on 107,548,055 shares of Common Stock outstanding, as reported by Playboy, Inc. in its Form 8-K filed on August 25, 2025.
• The reporting persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Playboy, Inc.

Sentiment

Score: 7

Explanation: The filing indicates a substantial passive investment by a prominent financial group, which can be viewed as a vote of confidence in Playboy, Inc. This is generally a positive signal, though it does not provide operational or financial performance updates.

Positives

• Significant institutional investment by a prominent financial group like Fortress Investment Group LLC can signal confidence in Playboy, Inc.'s long-term prospects.
• The substantial stake could provide a stable shareholder base for the company.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding Playboy, Inc.'s future financial performance or strategic direction, as it pertains solely to beneficial ownership reporting.

Industry Context

Large institutional investors taking significant passive stakes in publicly traded companies often indicates a belief in the company's underlying value or future growth potential within its sector. Such investments can be viewed positively by the market, suggesting a vote of confidence from sophisticated capital allocators.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure for significant passive ownership and does not contain performance metrics directly comparable to industry standards.
• The level of institutional ownership by a group like Fortress Investment Group is common for publicly traded companies, though the specific percentage of 15.4% represents a substantial, non-controlling interest.

Corporate Governance

Stakeholder Impact

• Shareholders may perceive the significant institutional investment as a positive indicator of the company's value and future prospects, potentially leading to increased investor confidence.
• Management may view this as validation of their strategy, knowing a major institutional investor holds a substantial stake without seeking control.

Key Dates

Recommendation

The filing reveals a significant passive stake by Fortress Investment Group affiliates, suggesting institutional confidence. While not a performance report, this level of ownership by a sophisticated investor could be a positive indicator, warranting a 'hold' recommendation for existing investors and further due diligence for potential new investors.

Keywords

Playboy Inc, PLBY, Fortress Investment Group, Drawbridge Special Opportunities Fund, Schedule 13G, Beneficial Ownership, Institutional Investor, Equity Stake, Passive Investment