<SEC-DOCUMENT>0001104659-20-110814.txt : 20201001
<SEC-HEADER>0001104659-20-110814.hdr.sgml : 20201001
<ACCEPTANCE-DATETIME>20201001112043
ACCESSION NUMBER:		0001104659-20-110814
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20201001
DATE AS OF CHANGE:		20201001
EFFECTIVENESS DATE:		20201001

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mountain Crest Acquisition Corp.
		CENTRAL INDEX KEY:			0001803914
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				371958714
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39312
		FILM NUMBER:		201214904

	BUSINESS ADDRESS:	
		STREET 1:		311 WEST 43RD STREET
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		(314) 650-1069

	MAIL ADDRESS:	
		STREET 1:		311 WEST 43RD STREET
		STREET 2:		12TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm2032160-2_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>SECURITIES
AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>SCHEDULE
14A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>Proxy
Statement Pursuant to Section 14(a) of the Securities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>Exchange
Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 10pt; white-space: nowrap; width: 10%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed by the Registrant</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 10pt; white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed&nbsp;by&nbsp;a&nbsp;Party&nbsp;other&nbsp;than&nbsp;the&nbsp;Registrant</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Check the appropriate
box:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary
Proxy Statement</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
Proxy Statement</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
Additional Materials</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
Material Pursuant to Section240.14a-12</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>MOUNTAIN
CREST ACQUISITION CORP.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>(Name
of Registrant as Specified In Its Charter)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="background-color: white"><B>(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Payment of Filing Fee
(Check the appropriate box):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
fee required.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
computed on table below per Exchange Act Rules 14a-6(i) (1) and 0-11.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
of each class of securities to which transaction applies:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
number of securities to which transaction applies:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35pt; text-indent: -17pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it was determined):</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed
maximum aggregate value of transaction:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
fee paid:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
paid previously with preliminary materials.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
box if any part of the fee is offset as provided by Exchange Act Rule 0-11 (a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of
its filing.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount
Previously Paid:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form,
Schedule or Registration Statement No.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing
Party:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
Filed:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Script for the Investor Conference Call held at 8:30 a.m.
Eastern Time, October 1, 2020</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operator</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you for standing by. Welcome to the Playboy &ndash; Mountain
Crest Acquisition Corp. Webcast and Conference Call of Management&rsquo;s prepared remarks. Listeners are in a listen-only mode,
and there will not be a Q&amp;A session following the prepared remarks.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">I will now turn the call over to Ashley DeSimone of ICR, Ashley:</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Ashley DeSimone</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you Operator.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you everyone for joining us. The information discussed
today is qualified in its entirety by the Form 8-K that has been filed today by Mountain Crest and may be accessed on the SEC&rsquo;s
website.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Please note that the press release issued this morning and related
SEC documents can also be found on Mountain Crest&rsquo;s website at http://www.mcacquisition.com/.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">The investor deck that will be presented as part of today&rsquo;s
discussion has been publicly filed with the SEC and posted on Mountain Crest&rsquo;s website, where it is available for download.
Please review the disclaimers included therein and refer to that as the guide for today&rsquo;s call.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Also, statements we make during this call that are not statements
of historical facts constitute forward-looking statements that are subject to risks, uncertainties and other factors that could
cause our actual results to differ from historical results and/or from our forecast, including those set forth in Mountain Crest&rsquo;s
Form 8-K filed today and the exhibits thereto. For more information, please refer to the risks, uncertainties and other factors
discussed in Mountain Crest&rsquo;s SEC filings. All cautionary statements that we make during this call are applicable to any
forward-looking statements we make wherever they appear. You should carefully consider the risks, uncertainties and other factors
discussed in Mountain Crest&rsquo;s SEC filings. Do not place undue reliance on forward-looking statements, which we assume no
responsibility for updating. In addition, statements made today regarding expected cash and equity ownership following the transaction
do not take into account any possible redemptions of existing Mountain Crest shareholders prior to the business combination.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Hosting today&rsquo;s call are Ben Kohn, Chief Executive Officer
of Playboy and Rachel Webber, Chief Brand &amp; Strategy Officer of Playboy, and Dr. Suying Liu, Chairman and Chief Executive Officer
of Mountain Crest Acquisition Corp. I will now turn the call over to Dr. Suying Liu. Suying?</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain
Crest Acquisition Corp.</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you and welcome everyone to the Playboy &ndash; Mountain
Crest Acquisition Corp. conference call.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We are excited to announce that Mountain Crest has entered into
a business combination agreement to combine its public company with Playboy.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">As we said during the initial public offering of Mountain Crest,
our number one target for investment was to bring to the public markets a brand with <U>global</U> market opportunities &ndash;
and today we are doing just that with Playboy, one of the world&rsquo;s most iconic brands, which we believe with this expert team
and committed capital, can further unlock a highly relevant, commerce driven Company with opportunities in several key pillars
which will be discussed today.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>[Pause]</I></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We have $58 million in the Mountain Crest trust account and
we have raised $50 million in committed PIPE proceeds.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Upon closing, the combined company will have an anticipated
enterprise value of approximately $415 million and have over $100 million of unrestricted cash on the balance sheet.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">I&rsquo;ll turn the call over to the Playboy CEO, Ben Kohn who
will go through Playboy&rsquo;s recent evolution, its unique positioning as a global consumer lifestyle platform and his strategy
for future growth.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Ben Kohn, Chief Executive Officer</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you, Suying. And, good morning everyone. I&rsquo;m thrilled
to be here today to reintroduce the Playboy business to all of you and to share why now is the right time to return Playboy to
the public markets.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We are taking this step into the public markets because the
committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our
direct to consumer capabilities.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Before diving into our story, I want to share why we were immediately
attracted to Mountain Crest Acquisition Corp. Mountain Crest is truly a unique SPAC in that it has no warrants outstanding, and
only a tenth of a right per share, which creates a less complicated and less dilutive entity for our shareholders.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">I also want to let you know that all of Playboy&rsquo;s existing
shareholders including management are rolling 100% of their holdings into the deal and signing 12-month lock-ups. Assuming no redemptions
on the money in trust, existing Playboy shareholders and management will own 66% of the company post-transaction.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">I stepped into the CEO role at Playboy in 2017. I spent the
previous 20 years in private equity focused on unlocking huge value from incredible entertainment and consumer assets. I saw in
Playboy the biggest opportunity of my career.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Playboy is huge. It is a brand and platform that could not be
replicated today. It has massive global reach, with more than $3B of global consumer spend, and products sold in over 180 countries.
We engage with millions of people every day across our owned and social channels &ndash; and our reach grows exponentially with
our built-in network of ambassadors. No brand gets noticed quite like the Rabbit Head and in today&rsquo;s increasingly cluttered
and fickle environment, Playboy has a special power to both stand out and to last.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Over the past 2 years, we shut down almost all of our legacy
media businesses, grew our Gen Z and Millennial customer base with new product launches, built out direct to consumer capabilities,
and grew our licensing business to over $400M in forward-booked cash flows. We also introduced new owned and operated product lines
in the US &ndash; a key part of our strategy to capture a greater share of consumer spend against the brand.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">While we are still in the early innings executing against our
owned and operated growth strategy, we are on track to grow our revenue 68% in 2020 and more than double our Adjusted EBITDA over
the previous year. We have a highly achievable roadmap in place to hit our goal of $100M of Adjusted EBITDA in 2025.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Our product strategy is informed by consumer data and our iconic
brand positioning of free expression, sex-positivity and pleasure for all. We are focused on four high-growth categories:</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 14pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 14pt">First, Sexual Wellness &ndash; Where our intimacy products and lingerie are driving growth into
an addressable market we anticipate will reach $400 billion in the next four years. This segment is poised to contribute roughly
40% of our revenues this year, and we recently rolled out our intimacy products in over 10,000 CVS and Wal-Mart stores. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 14pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 14pt">Second, Style &amp; Apparel &ndash; Which is about 50% of our revenues today, includes multiple
fashion and accessory brands, including in China, where we are a leading men&rsquo;s apparel brand. In the US and UK, in partnership
with fashion brands like Missguided and PacSun, we have 10x-ed retail sales of our branded apparel products over the past two years
to more than $50M.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 14pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 14pt">Third, Gaming &amp; Lifestyle &ndash; with our partners including market leaders Microgaming
and Scientific Games, we drive over $50M of global gross gaming sales on casino-style games. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-size: 14pt">And Fourth, Beauty &amp; Grooming &ndash; we are building a strong foundation for fragrance,
skincare, men&rsquo;s grooming and cosmetics product lines. Our newly launched men and women&rsquo;s fragrance products are available
in DM and Rossman in Germany and will launch in Superdrug in the UK this month. </FONT></TD></TR></TABLE>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Our growth strategy to build owned and operated product lines
and direct to consumer distribution channels was a key driver of our Dec 2019 acquisition of Yandy.com, a women&rsquo;s lingerie
and accessories digital commerce business. The Yandy acquisition expanded our direct customer base by over two and a half million
relationships and provided key warehouse and fulfillment center infrastructure that we have since integrated into our Playboy operations.
Yandy has benefitted from our performance marketing expertise and we have grown that business by over 35% percent this year.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Our successful acquisition and integration of the Yandy business
is a case study for future acquisitions we may make to augment and accelerate our organic growth. In particular, we believe we
are uniquely positioned to aggregate a highly fragmented sexual wellness category that consumers immediately identify with the
Playboy brand. This category represents everything from men&rsquo;s and women&rsquo;s sexual health products to education services
to bedroom accessories and we believe the affiliation with our brand provides an efficient and effective marketing platform for
these products and services.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">The most crucial component of our recent growth is our healthy
and thriving hero brand. We have a clear mission: to create a culture where all people can pursue pleasure. The core pillars of
that mission &ndash; standing for free expression, equality, personal freedoms and the power of pleasure and fun in your life &ndash;
are rooted in our 67-year history.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Most importantly, our mission creates a clear focus for our
business and the role we play in consumers lives: providing them with the products, services and experiences that create a lifestyle
of pleasure.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">I&rsquo;ve asked our Chief Brand and Strategy Officer, Rachel
Webber, to join me on the call today to talk a bit more about our brand and how powerfully it is resonating with consumers today.
Rachel?</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RACHEL WEBBER</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you, Ben.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">It&rsquo;s been incredibly exciting to work on reintroducing
the Playboy brand and expanding our addressable audience with new products and services.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">The Playboy brand is one of the most unique and powerful in
the world in the emotional connection it inspires. Playboy helps people feel confident living a life with pleasure woven into it
 &ndash; free of shame or judgement. This way of living not only resonates across age and gender demographics, but it is what people
are crying out for today.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Over the past two years, we&rsquo;ve focused on a three-part
strategy for revitalizing the brand:</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">First, we leaned into our authenticity as a groundbreaking editorial
and social advocacy platform to work with some of the biggest names on the planet and to connect with a young audience on issues
they care deeply about. We collaborated with superstars like Kylie Jenner, Lizzo, King Princess, Bad Bunny and Travis Scott, provided
a platform for today&rsquo;s revolutionary activists and thought-leaders, such as Alicia Garza, Geena Rocero, and Tarana Burke,
and created advocacy campaigns focused on issues Playboy has championed for decades on racial and LGBTQ+ equality, women&rsquo;s
reproductive rights and cannabis law reform.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Second, we collaborated with some of the biggest names in streetwear
to engage the older Gen Z and younger Millennial audience with highly coveted products through partnerships with the likes of Supreme,
Moschino, Revenge and of course our lines with PacSun and Missguided.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">And third, we created our own built-in ambassador network with
our Playmates. We recognized the role we could play as an authority on sex and beauty and used it to challenge society&rsquo;s
narrow definitions of &ldquo;sexy&rdquo; to be more inclusive. In doing so, we captured the attention and loyalty of a new, younger,
more socially active female audience, and established our Playmates as an extended influencer platform, helping us efficiently
market new products and services. We&rsquo;re particularly excited about the role our Playmate community will play in our upcoming
Beauty category launches.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">All of this work has translated to reaching a younger audience
with more representation across genders. Over the past 2 years, we added more than 10M new followers across Instagram, Facebook
and Twitter and grew our female Instagram audience by almost 70% over the past 2 years. Today more than 85% of our total social
audience is under 44.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Playboy is one of the most unique brands in the world in its
ability to appeal across demographics, at all different stages of people&rsquo;s lives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Of course, our most important measure of success is our sales,
which in the US and UK have almost doubled in the past year. Our streetwear collaborations are on track to achieve more than $50M
in retail sales in 2020, and our recent drops have been selling out in minutes.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We&rsquo;ve also expanded the distribution of our products in
major retailers throughout the US and Europe. A retail test of our intimacy products in late 2019 led to a roll out in more than
10,000 Walmart and CVS stores today. Our new fragrance line launched in Germany in DM and Rossmann, and is coming to Super Drug
in the UK this month. Our new home lifestyle line just launched on Wayfair. And our collab offerings are available across high
end retail like Bloomingdale&rsquo;s, Selfridges, Urban Outfitters and Nordstrom.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">As Ben said earlier&hellip; The Playboy brand &ndash; with its
global recognition, immediate emotional connection, and broad category affinity &ndash; would be impossible to replicate today,
and you would likely spend billions of dollars trying to do so. Most exciting is that with the categories we&rsquo;re focused on,
we will integrate into consumers&rsquo; lives from morning to night &ndash; with Playboy products and with other branded product
offerings as well. Playboy today is a platform for a whole way of life &ndash; inviting people around the world to live the pleasure
lifestyle.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">With that, I&rsquo;ll hand it back to Ben.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BEN KOHN</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thanks, Rachel.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">To recap...</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We are well on our way to our goal of $100M of Adjusted EBITDA
in 2025&hellip; with a clear path to our $40M Adjusted EBITDA target for 2021.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We have a highly profitable business model. We have $400M in
contracted highly visible licensing cashflow, over $180M in Net Operating Losses; and we are selling products in categories that
are global and growing quickly. And our product areas of focus are enormous &ndash; particularly our opportunity to dominate the
sexual wellness category.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">My team is committed, invested and incentivized to build massive
growth &ndash; and as I mentioned at the start, all of the existing shareholders are rolling over.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">The proposed transaction values the combined company at approximately
$415 million.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">After giving effect to the transaction, the company is expected
to have over $100 million of unrestricted cash on the Balance Sheet and public equity currency to ensure sufficient capital for
future growth.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">We are so excited about the future of Playboy.&nbsp; The categories
we are playing in are massive and growing.&nbsp; With committed capital from this transaction, we will take advantage of the opportunity
in front of us, with over 100% adjusted EBITDA growth anticipated this year, building to $100 million of adjusted EBITDA in 2025.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt">Thanks for your attention today.
We look forward to sharing additional information with you as we proceed forward. If you have any questions regarding the presentation,
please visit the Mountain Crest website at www.MCacquisition.com</FONT>.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">Thank you for joining today&rsquo;s call.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Important Information and Where To
Find It</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the proposed Business Combination described herein, Mountain Crest Acquisition Corp. (&ldquo;MCAC&rdquo;) intends to file relevant
materials with the SEC, including a proxy statement on Schedule 14A, including a preliminary proxy statement and a definitive
proxy statement. Promptly after filing its definitive proxy statement with the SEC, MCAC will mail the definitive proxy statement
and a proxy card to each stockholder entitled to vote at the Special Meeting relating to the transaction. INVESTORS AND STOCKHOLDERS
OF MCAC ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN
CONNECTION WITH THE TRANSACTION THAT MCAC WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT MCAC, PEI (AS DEFINED BELOW) AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement
and other relevant materials in connection with the transaction (when they become available), and any other documents filed by
MCAC with the SEC, may be obtained free of charge at the SEC&rsquo;s website (www.sec.gov) or by visiting the investor relations
section of <FONT STYLE="color: blue"><B><U>www.mcacquisition.com</U></B></FONT><B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Participants in the Solicitation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">MCAC and its directors and executive officers
may be deemed participants in the solicitation of proxies from MCAC&rsquo;s stockholders with respect to the Business Combination.
A list of the names of those directors and executive officers and a description of their interests in MCAC will be included in
the proxy statement for the proposed Business Combination and be available at www.sec.gov. Additional information regarding the
interests of such participants will be contained in the proxy statement for the proposed Business Combination when available. Information
about MCAC&rsquo;s directors and executive officers and their ownership of MCAC common stock is set forth in MCAC&rsquo;s prospectus,
dated June 4, 2020, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other
information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining
to the proposed business combination when it becomes available. These documents can be obtained free of charge from the sources
indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Playboy Enterprises, Inc. (&ldquo;PEI&rdquo;)
and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders
of MCAC in connection with the proposed Business Combination. A list of the names of such directors and executive officers and
information regarding their interests in the proposed Business Combination will be included in the proxy statement for the proposed
Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing script
contain certain &ldquo;forward-looking statements&rdquo; within the meaning of &ldquo;safe harbor&rdquo; provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: &ldquo;target,&rdquo;
 &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;will,&rdquo; &ldquo;shall,&rdquo; &ldquo;may,&rdquo; &ldquo;anticipate,&rdquo;
 &ldquo;estimate,&rdquo; &ldquo;would,&rdquo; &ldquo;positioned,&rdquo; &ldquo;future,&rdquo; &ldquo;forecast,&rdquo; &ldquo;intend,&rdquo;
 &ldquo;plan,&rdquo; &ldquo;project&rdquo; and other similar expressions that predict or indicate future events or trends or that
are not statements of historical matters. Examples of forward-looking statements include, among others, statements made in script
regarding the proposed transactions contemplated by the Merger Agreement, including the benefits of the Merger, integration plans,
expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates
for growth, the expected management and governance of the combined company, and the expected timing of the Merger. Forward-looking
statements are neither historical facts nor assurances of future performance. Instead, they are based only on MCAC&rsquo;s and
PEI&rsquo;s managements&rsquo; current beliefs, expectations and assumptions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of
which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual
results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, the following:
(1) the occurrence of any event, change, or other circumstances that could give rise to the termination of the Merger Agreement;
(2) the outcome of any legal proceedings that may be instituted against MCAC and PEI following the announcement of the Merger Agreement
and the transactions contemplated therein; (3) the inability to complete the proposed Business Combination, including due to failure
to obtain approval of the stockholders of MCAC and PEI, certain regulatory approvals, or satisfy other conditions to closing in
the Merger Agreement; (4) the occurrence of any event, change, or other circumstance that could give rise to the termination of
the Merger Agreement or could otherwise cause the transaction to fail to close; (5) the impact of COVID-19 pandemic on PEI&rsquo;s
business and/or the ability of the parties to complete the proposed Business Combination; (6) the inability to obtain or maintain
the listing of MCAC&rsquo;s shares of Common Stock on Nasdaq following the proposed Business Combination; (7) the risk that the
proposed Business Combination disrupts current plans and operations as a result of the announcement and consummation of the proposed
Business Combination; (8) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be
affected by, among other things, competition, the ability of PEI to grow and manage growth profitably, and retain its key employees;
(9) costs related to the proposed Business Combination; (10) changes in applicable laws or regulations; (11) the possibility that
MCAC or PEI may be adversely affected by other economic, business, and/or competitive factors; (12) risks relating to the uncertainty
of the projected financial information with respect to PEI; (13) risks related to the organic and inorganic growth of PEI&rsquo;s
business and the timing of expected business milestones; (14) the amount of redemption requests made by MCAC&rsquo;s stockholders;
and (15) other risks and uncertainties indicated from time to time in the final prospectus of MCAC for its initial public offering
dated June 4, 2020 filed with the SEC and the proxy statement on Schedule 14A relating to the proposed Business Combination, including
those under &ldquo;Risk Factors&rdquo; therein, and in MCAC&rsquo;s other filings with the SEC. MCAC cautions that the foregoing
list of factors is not exclusive. MCAC and PEI caution readers not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. MCAC and PEI do not undertake or accept any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements to reflect any change in its their expectations or any change in events,
conditions, or circumstances on which any such statement is based.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal"></FONT></P>


<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 13; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
