New details about Khaby Lame's $975 million deal deepen the mystery
A new financial filing provides fresh details — and more questions — about top TikToker Khaby Lame's mysterious $975 million deal.
Khaby Lame, the popular TikTok star with over 160 million followers, has been working on other partnerships while his $975 million deal remains frozen. The deal, which involved merging his business with Rich Sparkle Holdings, a public company, was initially met with excitement from creator economy experts. However, the stock of Rich Sparkle has plummeted by 99% since the deal announcement in January.
A recent financial filing revealed that the deal is still on hold, pending due diligence, valuation checks, and stock exchange approval - all conditions that have been present in previous filings. Despite the deal's delay, Rich Sparkle's stock price has dropped dramatically, closing at $1.93, down from a high of $180. The original deal promised Lame's company 75 million shares, worth around $145 million at the current share price.
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