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Hypebeast Plans To List On NASDAQ through Merger With Iron Spark I Inc.; The Merger Is Expected To Result In A Pro Forma Equity Valuation Of $534M

Benzinga Real-time News ·  Apr 4, 2022 06:06
  • Founded in 2005, Hypebeast is a thriving digital media and e-commerce company focused on culture and lifestyle with over 26 million followers worldwide.
  • Its global community of creators and consumers spanning 80+ countries enables leading brands to connect and engage with Gen-Z and millennial audiences.
  • High margin, consistently profitable business to generate not less than US$112 million in revenue in fiscal year ended March 31, 2022; achieved a CAGR of 34% from 2015 to 2021.
  • Merger with Iron Spark is expected to provide up to US$180 million in total gross proceeds and is expected to result in a pro forma equity valuation of US$534 million.
  • Hypebeast intends to use transaction proceeds to make investments across technology, talent, brand experiences, and marketing in support of continued growth as an omnichannel media and e-commerce business.
  • Hypebeast is expected to be dual-listed on NASDAQ under the ticker symbol $HYPE, and its existing listing on the Hong Kong Stock Exchange under the stock code 00150.HK, following an anticipated transaction close in the third quarter of 2022.
  • Former President of NIKE, Trevor Edwards, is expected to be nominated as a director of Hypebeast.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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