The latest move by Justin Bieber and Ariana Grande’s agent, Scooter Braun, “earned about $10 million each.”
The scooter company Ithaca Holdings has been acquired by H-BE, which is the agent behind the K-pop phenomenon BTS.
According to Variety, the $50 million now obtained from the purchase price has been allocated to some of Scooter’s long-term employees and customers.
Side by side: Justin Bieber and Ariana Grande each profited nearly $10 million from the latest move by their manager, Scooter Braun
The customers and employees in question are those who have participated in Scooter Braun Projects since its launch in 2007.
According to South Korean regulatory documents cited by Variety, Scooter himself will receive 462,380 of the 863,209 new shares issued as part of the transaction, at a cost of $186 per share.
According to reports, Ariana and Justin received $9,961,602 worth of shares each-that is, a total of 53,557 shares.
It is said that other actions of the scooter have also achieved good results, including Demi Lovato (Demi Lovato) “acquired 5,355 shares worth $996,030.”
New deal: Scooter (pictured) company Ithaca Holdings is acquired by HYBE, which is the agent behind the K-pop phenomenon BTS
According to reports, J. Balvin’s performance is even better than Demi’s $3,984,678 stock-a hard figure of 21,423.
At the same time, it is said that Asher Roth and Carly Rae Jepsen can only get 535 shares, but they are still worth $99,510.
HYBE announced on Friday a deal to acquire Scooter’s company for $1.05 billion.
One pair: The customers and employees in question are those who have participated in Scooter Braun Projects since its launch in 2007; The scooter and Justin were pictured in January last year
Great: Ariana and Justin each received $9,961,602 worth of shares-that is, a total of 53,557 shares; Ariana and Scooter pictured together in early 2019
The South Korean company, formerly known as Big Hit Entertainment, is investing 1.07 trillion won (US$950 million) in its US unit to acquire Ithaca Holdings.
In another regulatory filing in Seoul, the company stated that its U.S. unit will pay bondholders and others a total of $1.05 billion in merger fees.
The company said in a statement that the South Korean company will “acquire 100% of Ithaca Holdings through its wholly-owned subsidiary HYBE America.”
Braun will join HYBE’s board of directors, and artists from two entities-including BTS, Bieber and Grande-will participate in the capital increase of the Korean company.
Demi with Scooter: Other long-term Scooter behaviors also performed well, including Demi Lovato, who acquired 5,355 shares with a currency value of US$996,030
Brown said: “This is our opportunity to make history and further innovate the music industry.”
Since its debut in 2013, BTS has become one of the global superstars. Its single “Dynamite” reached the top of the Billboard Hot 100 chart last year, becoming the first Korean singer to top the US charts.
In October, HYBE made its debut on the multi-billion dollar stock market.
The company stated in a regulatory document that the merger was to “speed up its entry into the global market.”
Feeling: HYBE announced on Friday the purchase of Scooter’s company for US$1.05 billion; the picture shows the K-pop prodigy BTS represented by HYBE