THEBLACKLABEL has just made an exciting investment with a well-known global brand.
On April 5 KST, THEBLACKLABEL, home to artists like Jeon So Mi, Zion.T, and LØREN, announced that they have invested in the contemporary lifestyle platform Hypebeast. The agency joins a number of major names who have recently decided to invest in the company via PIPE deal, including Tom Brady, Naomi Osaka, Kevin Durant, Rich Kleiman, Tony Hawk, Joe Gebbia, Jonah Hill, Adam Levine, and Electric Feel Ventures.
Meanwhile, Hypebeast is a popular digital media and e-commerce boasting over 26 million followers spanning 80+ countries, mostly aged among the millennials and Gen-Z demographic. Starting off as a sneaker blog back in 2005, the brand has since spread to other cultural corners, including fashion, art, sports, technology, and food. After merging with acquisition company Iron Spark, the brand plans to become double-listed on both NASDAQ and the Hong Kong Stock Exchange.
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Oooh SPAC merger although SEC announced change of rules for any SPAC. Are you sure it is happening? Interesting news! Thanks!
FYI if interested
(SPAC stands for Special Purpose Acquisition Company and it is used to merge with companies that otherwise would not be able to go for IPO, PIPE investor means Private Investor in Public Equity and usually co-invests together with SPAC investors) This type of structure is mostly used on Nasdaq and helps companies become public meaning sell their equity publicly at lower cost and at earlier stage (income not big enough) However tax benefit that was driving this financial instrument has been recently changed by US regulator.