Search
Library
Log in
Watch fullscreen
4 months ago

Hypebeast to Merge With Iron Spark

Benzinga
Benzinga
Hypebeast, the e-commerce, and digital media brand plans to list on the NASDAQ by merging with Iron Spark ($ISAA@US). Hypebeast’s global network of creators and consumers operates in more than 80 countries, helping leading brands connect with younger audiences—particularly millennials and GenZ. The firm is a high-margin business that has proven to be consistently profitable, and it made at least $112 million in the previous fiscal year. Merging with Iron Spark will add up to $180 in revenue, bringing the company’s pro forma evaluation to just shy of $550 million. Hypebeast wants to use those proceeds to invest in technology and grow its omnichannel and e-commerce business segments. The current plan calls for the company to be dual-listed in Hong Kong and on the NASDAQ. Former NIKE ($NKE@US) President, Trevor Edwards, has been nominated to serve on the board. At press time, Iron Spark stock was trading at $10, just a fraction of a percent off its previous close.

Browse more videos

Browse more videos