New insider Fig Buyer Gp, Llc claimed ownership of 16,589,531 shares (SEC Form 3)

8/26/25 5:00:54 PM ET

$PLBY

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SEC FORM 3 SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

FIG Buyer GP, LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/22/2025

3. Issuer Name and Ticker or Trading Symbol
Playboy, Inc. [ PLBY ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.0001 par value per share	8,043,217	I	See Footnote⁽¹⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	3,236,791	I	See Footnote⁽²⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	2,574,004	I	See Footnote⁽³⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	943,168	I	See Footnote⁽⁴⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	831,345	I	See Footnote⁽⁵⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	387,326	I	See Footnote⁽⁶⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	373,338	I	See Footnote⁽⁷⁾⁽⁹⁾⁽¹⁰⁾
Common Stock, $0.0001 par value per share	200,342	I	See Footnote⁽⁸⁾⁽⁹⁾⁽¹⁰⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

1. Name and Address of Reporting Person^*

FIG Buyer GP, LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

FIG LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Fortress Principal Investment Holdings IV LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Fortress Operating Entity I LP

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

FIG Blue LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Fortress Investment Group LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

FINCO I Intermediate Holdco LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

FINCO I LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

FIG Parent, LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Foundation Holdco LP

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Held directly by Drawbridge Special Opportunities Fund LP ("DBSO"). Drawbridge Special Opportunities Advisors LLC ("DBSO Advisors") is the investment advisor to DBSO.

2. Held directly by Drawbridge DSO Securities LLC ("DBDSO"). DBSO is the sole member and owner of all of the outstanding membership interests in DBDSO.

3. Held directly by DBDB Funding LLC ("DBDB Funding"). DBSO is the indirect owner of all of the outstanding membership interests of DBDB Funding.

4. Held directly by FLF I Securities L.P ("FLF I"). Fortress Lending Advisors LLC ("Fortress Lending") is the investment manager of an entity that controls FLF I. FIG LLC is the holder of all of the issued and outstanding interests of Fortress Lending.

5. Held directly by Fortress Credit Opportunities XV CLO Limited ("FCO XV CLO"). FCOD CLO Management LLC ("FCOD CLO") is the collateral manager of FCO XV CLO. DBSO is the holder of all of the issued and outstanding interests of FCOD CLO.

6. Held directly by Fortress Credit Opportunities XI CLO Limited ("FCO XI CLO"). FCOD CLO is the collateral manager of FCO XI CLO.

7. Held directly by FCO XVII PLYB Holdings LLC ("FCO XVII"). Fortress Credit Opportunities XVII CLO Limited ("FCO XVII CLO") is the direct holder of 99.8%, and the indirect holder of 0.2%, of all of the issued and outstanding interests of FCO XVII. FCO XVII CLO CM LLC ("FCO XVII CLO CM") is the collateral manager of FCO XVII CLO. Fortress Lending is the holder of all of the issued and outstanding interests of FCO XVII CLO CM.

8. Held directly by DBO PLYB Holdings LLC ("DBO PLYB"). Drawbridge Special Opportunities Fund Ltd. ("DBSOF") is the direct holder of 99.8% and the indirect holder of 0.2% of all of the issued and outstanding interests of DBO PLYB. DBSO Advisors is the investment manager of DBSOF.

9. Drawbridge Special Opportunities GP LLC ("DBSO GP") is the general partner of DBSO. Fortress Principal Investment Holdings IV LLC ("FPI IV") is the managing member of DBSO GP. FIG LLC is the holder of all membership interests of DBSO Advisors. Fortress Operating Entity I LP ("FOE") is the holder of all of the issued and outstanding membership interests of FIG LLC and FPI IV. FIG Blue LLC ("FIG Blue") is the general partner of FOE. Fortress Investment Group LLC ("Fortress") is the sole member of FIG Blue. FINCO I Intermediate Holdco LLC ("FINCO Intermediate") is the sole member of Fortress. FINCO I LLC ("FINCO") is the sole member of FINCO Intermediate. FIG Parent, LLC ("FIG Parent") is the sole member of FINCO. Foundation Holdco LP ("Foundation") is the sole member of FIG Parent. FIG Buyer GP, LLC is the general partner of Foundation.

10. Each reporting person disclaims beneficial ownership of all reported securities except to the extent of its pecuniary interest therein and the inclusion of the securities in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for the purposes of Section 16 or otherwise.

Remarks:

This Form 3 is one of two reports relating to the same holdings being filed jointly by Drawbridge Special Opportunities Fund LP, Drawbridge Special Opportunities Advisors LLC, Drawbridge Special Opportunities GP LLC, FIG LLC, Fortress Principal Investment Holdings IV LLC, Fortress Operating Entity I LP, FIG Blue LLC, Fortress Investment Group LLC, FINCO I Intermediate Holdco LLC, FINCO I LLC, FIG Parent, LLC, Foundation Holdco LP and FIG Buyer GP, LLC.

	/s/ David N. Brooks for FIG Buyer GP, LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for FIG LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for Fortress Principal Investment Holdings IV LLC, By: David N. Brooks, General Counsel	08/26/2025
	/s/ David N. Brooks for Fortress Operating Entity I LP, By: FIG Blue LLC, its general partner; By David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for FIG Blue LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for Fortress Investment Group LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for FINCO I Intermediate Holdco LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for FINCO I LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for FIG Parent, LLC, By: David N. Brooks, Secretary	08/26/2025
	/s/ David N. Brooks for Foundation Holdco LP, By: FIG Buyer GP, LLC, its general partner; By David N. Brooks, Secretary	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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Recent Analyst Ratings for

$PLBY

Date	Price Target	Rating	Analyst
1/31/2025	$3.00	Buy	ROTH MKM
8/10/2023	$2.00 → $1.50	Hold	Stifel
5/11/2023	$2.00	Buy → Neutral	ROTH MKM
5/5/2023	$2.50	Buy	Jefferies
3/17/2023	$7.00 → $5.00	Buy	ROTH MKM
7/20/2022	$11.00 → $7.00	Buy → Hold	Stifel
4/20/2022	$36.00 → $28.00	Buy	Canaccord Genuity
3/2/2022	$49.00 → $39.00	Buy	Chardan Capital Markets

More analyst ratings

Table I - Non-Derivative Securities Beneficially Owned

1. Title of Security (Instr. 4)

2. Amount of Securities Beneficially Owned (Instr. 4)

3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)

4. Nature of Indirect Beneficial Ownership (Instr. 5)

Common Stock, $0.0001 par value per share

8,043,217

See Footnote⁽¹⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

3,236,791

See Footnote⁽²⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

2,574,004

See Footnote⁽³⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

943,168

See Footnote⁽⁴⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

831,345

See Footnote⁽⁵⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

387,326

See Footnote⁽⁶⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

373,338

See Footnote⁽⁷⁾⁽⁹⁾⁽¹⁰⁾

Common Stock, $0.0001 par value per share

200,342

See Footnote⁽⁸⁾⁽⁹⁾⁽¹⁰⁾

Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)

2. Date Exercisable and Expiration Date (Month/Day/Year)

3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)

4. Conversion or Exercise Price of Derivative Security

5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)

6. Nature of Indirect Beneficial Ownership (Instr. 5)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Recent Analyst Ratings for

$PLBY

Date	Price Target	Rating	Analyst
1/31/2025	$3.00	Buy	ROTH MKM
8/10/2023	$2.00 → $1.50	Hold	Stifel
5/11/2023	$2.00	Buy → Neutral	ROTH MKM
5/5/2023	$2.50	Buy	Jefferies
3/17/2023	$7.00 → $5.00	Buy	ROTH MKM
7/20/2022	$11.00 → $7.00	Buy → Hold	Stifel
4/20/2022	$36.00 → $28.00	Buy	Canaccord Genuity
3/2/2022	$49.00 → $39.00	Buy	Chardan Capital Markets

More analyst ratings

New insider Fig Buyer Gp, Llc claimed ownership of 16,589,531 shares (SEC Form 3)

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for
$PLBY

New insider Fig Buyer Gp, Llc claimed ownership of 16,589,531 shares (SEC Form 3)

Crush Q3 2025 with the Best AI Superconnector

Recent Analyst Ratings for
$PLBY

$PLBY
Insider Trading

New insider Drawbridge Special Opportunities Fund Lp claimed ownership of 16,589,531 shares (SEC Form 3)