The media and lifestyle brand, which first listed in Hong Kong in 2016, will bring its shares to the Nasdaq following a merger with special purpose acquisition company, Iron Spark I, Inc., according to a Wall Street Journal report.
The deal reportedly values Hypebeast at $530 million and includes a $13.3 million private equity investment from celebrity backers, including Tom Brady and Naomi Osaka.
According to a regulatory finding, in the six months to the end of September, Hypebeast posted a net profit of around $8 million.
Hypebeast did not immediately reply to BoF’s request for comment on the report.
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The launch of the Brazilian social media channel Hypebeast Brasil, expands the platform’s international presence beyond Asia, the Middle East and English-speaking markets.
