Brief: Hypebeast Plans To List On Nasdaq Through Merger With Iron Spark I Inc

Hypebeast

04/04/2022 11:08

April 4 (Reuters) - Hypebeast Ltd  0150.HK :
    * HYPEBEAST, A LEADING GLOBAL PLATFORM IN CONTEMPORARY
LIFESTYLE
AND CULTURE, PLANS TO LIST ON NASDAQ THROUGH MERGER WITH IRON
SPARK I INC.
    * IRON SPARK I INC - FORMER PRESIDENT OF NIKE, TREVOR
EDWARDS, IS
EXPECTED TO BE NOMINATED AS A DIRECTOR OF HYPEBEAST
    * IRON SPARK I INC - DEAL FOR PRO FORMA EQUITY VALUATION OF
US$534
MILLION
    * IRON SPARK I INC - IRON SPARK PUBLIC SHAREHOLDERS WILL
CONTINUE
TO RECEIVE A US$0.05 QUARTERLY DIVIDEND UNTIL TRANSACTION CLOSE
    * IRON SPARK I INC - HYPEBEAST IS EXPECTED TO BE DUAL-LISTED
ON
NASDAQ UNDER TICKER SYMBOL $HYPE
    * IRON SPARK I INC - MERGER WITH IRON SPARK IS EXPECTED TO
PROVIDE
UP TO US$180 MILLION IN TOTAL GROSS PROCEEDS
    * IRON SPARK I INC - FORMER PRESIDENT OF NIKE, TREVOR
EDWARDS, IS
EXPECTED TO BE NOMINATED AS A DIRECTOR OF HYPEBEAST
    * IRON SPARK I INC - EXISTING HYPEBEAST SHAREHOLDERS ARE
EXPECTED
TO OWN 56.2% OF PRO FORMA EQUITY IN COMBINED COMPANY
    * IRON SPARK I INC - DEAL WILL BE FUNDED BY ISAA CASH HELD
IN A
TRUST ACCOUNT, NEWLY ISSUED HYPEBEAST ORDINARY SHARES, AND
PROCEEDS FROM PIPE
    * IRON SPARK I INC - HYPEBEAST'S CURRENT MANAGEMENT TEAM OF
EXECUTIVE DIRECTOR, CHAIRMAN, AND CEO KEVIN MA AND CFO PATRICK
WONG WILL REMAIN IN PLACE

Source text for Eikon:  ID:nPn1PQtpva 
Further company coverage:  0150.HK 

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