HK-listed digital media player Hypebeast plans Nasdaq debut via merger with Iron Spark I

Photo: REUTERS/Brendan McDermid/Files

Hong Kong-listed digital media and commerce company Hypebeast Limited plans to list on the Nasdaq following its merger with Iron Spark I Inc, a publicly-traded special purpose acquisition company (SPAC).

The merger with Iron Spark is expected to provide up to $180 million in total gross proceeds. The deal, which pegs Hypebeast at a pro forma equity valuation of $534 million, also includes a $13.3-million private investment in public equity (PIPE) transaction.

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