Hugh Hefner

As part of the deal, Mountain Crest will sell $50 million of its common stock to institutional investors

Hefner died in September 2017 at age 91

Playboy encouraged unrestrained male pleasure, the type that didn't require financial or emotional obligations

Women in the magazine, he said, were intended more as the girl next door than as sex objects

He took out a mortgage and borrowed money from his mother to launch Playboy in 1953

Hefner enraged feminists, moralists and family groups alike

He had only recently moved out of his parents' house and left his job at Children's Activities magazine

Hefner will join a number of Hollywood celebrities buried at the famous Los Angeles cemetery