Kirkland & Ellis advised Hypebeast Limited (HKSE: 00150), a global digital media and e-commerce platform in contemporary lifestyle and culture, on its business combination with Iron Spark I Inc. (Nasdaq: ISAA), a special purpose acquisition company. Upon closing of the proposed transaction, Hypebeast is expected to be dual listed on NASDAQ under the ticker symbol “HYPE” and to remain listed on the Hong Kong Stock Exchange under the stock code 00150.HK. Hypebeast received strong support from PIPE investors, including, among others, Tom Brady, Naomi Osaka, Kevin Durant, Rich Kleiman, Tony Hawk, Joe Gebbia, Jonah Hill, Adam Levine, Electric Feel Ventures, THEBLACKLABEL, and IRONGREY. The combined business is estimated to have a pro forma equity value of $534 million. The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.
The Kirkland team was led by transactional partners Joseph Raymond Casey, Daniel Dusek, Joey Chau and Nicholas Norris and capital markets partner Steve Lin.