OMG but the wheels are absolutely spinning right now. So much so that it will be impossible for me to write an appropriate opening paragraph much less headline. Here is the skinny, anyhow. The world’s favorite surfer, save Mick Fanning, just joined the greatest quarterback of all-time Tom Brady investing in Hypebeast, the “sneaker enthusiast media firm” that has just secured $353 million in a US SPAC merger.
Per the South China Morning Post:
Listed in Hong Kong since 2016, Hypebeast disclosed the merger in a stock exchange announcement on Monday. The merger with the SPAC will also inject up to US$167 million in cash into the firm, which was raised by the blank-cheque company from its Nasdaq initial public offering in June 2021.
Hypebeast has become one of the first Hong Kong-listed companies to seek a second listing in New York through a SPAC, rather than through a traditional IPO pitching its business directly to public investors. SPACs are shell companies created by promoters to raise financial war chests through a share sale to investors, using the proceeds to buy assets within a limited period of time.
As part of the deal, Hypebeast has also entered into an agreement with several private investors, including multiple celebrities, who together will invest about US$13.3 million worth of Hypebeast shares, subject to the completion of the merger.
The investors include tennis star Naomi Osaka, American football player Tom Brady, and actor Jonah Hill, who played the character Donnie Azoff in the movie The Wolf of Wall Street.
Ok, ok, ok and finally we can get to the meat of the it all. What has got my wheels spinning.
If Hill is allowed to design a luxury vanity sneaker a la the Yeezy will it be surf-influenced?
Something just perfect for ambling around his new hometown of Honolulu?
Maybe something in a Defend Hawaii color way?
Make it happen, Hill. Do the right thing.