I saw headlines such as ANPA bought Khaby Lames company for ~$900M but nobody is pointing out how sketchy it looks.
What I gathered, the $975M deal was paid in stock = 75,000,000 new ANPA shares to the sellers which is roughly $13 a share.
If they really issue 75M new shares (vs ~12.5M outstanding, ish), doesn't that basically destroy the scarcity and force the price to re-anchor closer to the $13ish deal valuation? Like post, deal you're at ~87.5M shares, so even a ~$1B valuation is like $11/$13 a share not $60/$100/$180.
And... $975M for an influencer operating company sounds totally crazy if there isn't any real revenue/EBITDA that supports it. Does anyone have the actual numbers for Step Distinctive / Khabys business? Any comparable deals where an influencer brand was valued anywhere close to this?
What I gathered, the $975M deal was paid in stock = 75,000,000 new ANPA shares to the sellers which is roughly $13 a share.
If they really issue 75M new shares (vs ~12.5M outstanding, ish), doesn't that basically destroy the scarcity and force the price to re-anchor closer to the $13ish deal valuation? Like post, deal you're at ~87.5M shares, so even a ~$1B valuation is like $11/$13 a share not $60/$100/$180.
And... $975M for an influencer operating company sounds totally crazy if there isn't any real revenue/EBITDA that supports it. Does anyone have the actual numbers for Step Distinctive / Khabys business? Any comparable deals where an influencer brand was valued anywhere close to this?
What am I missing?