merger between BTS’ label HYBE and Scooter Braun’s Ithaca Holdings, Braun’s SB Projects roster of clients — among them Justin Bieber, Ariana Grande, J Balvin and Demi Lovato — are set to become significant shareholders in a capital increase meant to fortify the bond between both companies, according to a Korean regulatory filing.A total of 863,209 new shares were issued, at $186 a share — a commitment of $50 million from the purchase price of which Braun divvied up slices to the acts and employees who have been with him since he started in 2007.
Of those shares, 462,380 were allocated to Braun himself, and 166,537 were allocated to Scott Borchetta, CEO of Big Machine Label Group, which Ithaca acquired in 2018.
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