Joana ⁷ ⊙⊝⊜ 💜🐰

The reported figures were as follows: 400 billion won — Total amount allegedly earned by Bang Si-hyuk and people connected to him 210 billion won — Amount from funds reportedly unconnected to Bang’s acquaintances 190 billion won — Amount distributed through funds allegedly involving Bang’s acquaintances 120 billion won — Amount allegedly received personally by Bang Si-hyuk 1.2 trillion won — A rough estimate based on the reasoning that if 30% of total profit equals 400 billion won, then total profit would be about 1.2 trillion won. The original source for this figure is unclear. After about one year and four months, the investigation was still unresolved. Police eventually requested an arrest warrant for Bang Si-hyuk. However, prosecutors rejected the arrest warrant request and sent the case back for further investigation. 1. The existing investors were the ones who first expressed their intent to sell their shares. 2. But there weren’t many buyers for those shares, so two private equity funds eventually took them. 3. HYBE’s argument is that the first deal did not include a 30% profit-sharing arrangement, and Bang Si-hyuk’s side took on the risk if the IPO failed. The later deals included profit-sharing as compensation for taking on that risk. 4. HYBE says it had major law firms review whether the contracts were legally problematic, and that it received advice saying there was no issue. 5. Then COVID-era market liquidity, BTS’s continued success, and the massive hit “Dynamite” all lined up, and the IPO became a huge success. 6. Police say they began investigating after receiving related intelligence. 7. Police see the case as: “Did they make old investors believe the IPO was unlikely, get them to sell their shares, and then secretly sign profit-sharing deals with private equity funds?” Meanwhile, HYBE/Bang’s side says: “The investors sold voluntarily, and the IPO was genuinely uncertain at the time.” 8. This was not a case where the investors who sold early publicly came forward saying, “We were victims.” Rather, the investigation is being driven by authorities looking into the possibility of fraudulent unfair trading under the Capital Markets Act. 9. In other words, they are calling it fraud even though there is no clear victim publicly claiming damage. 10. Prosecutors rejected the arrest warrant request, saying the police’s legal theory and the explanation for why detention was necessary were insufficient, and ordered further investigation.

A simplified explainer of the BigHit/HYBE IPO controversy BigHit, the company behind BTS and later renamed HYBE, went public in 2020. The controversy is about what happened before the IPO. The core allegation is this: BigHit and Bang Si-hyuk allegedly made some early investors believe that an IPO was unlikely or uncertain, which pushed them to sell their shares before the company went public. At the same time, Bang Si-hyuk allegedly had private profit-sharing agreements with some of the new buyers, meaning he would personally receive a large cut if the IPO succeeded. BigHit/Bang’s side argues that the IPO really was uncertain at the time, that no one could have predicted COVID, the global stock market boom, or the success of “Dynamite,” and that the old investors chose to sell their shares voluntarily. In 2018, one early investor, referred to here as L, told BigHit that they wanted to sell their stake, meaning their ownership share in the company. Their reasoning was simple: if BigHit did not go public, they would have to return money to their own investors. So instead of waiting, they wanted to cash out. A new investor, S, became interested in buying those shares. But S was worried. At the time, BTS’s military enlistment was seen as a major risk. If BigHit failed to go public before BTS members began enlisting, the value of the investment could fall. So S proposed a deal: “If BigHit does not go public within five years, buy the shares back from us with interest. But if the IPO succeeds, we will give you 30% of the profit.” According to the allegation, BigHit/Bang accepted this structure. But instead of making it an official company-level agreement, the profit-sharing deal was made as a private contract with Bang Si-hyuk personally. That distinction matters because BigHit as a company was publicly presenting the IPO as uncertain, while Bang, the company’s founder and key figure, allegedly had a personal upside if the IPO succeeded. Investor L eventually sold and reportedly made a massive return — around 1,600%. A 1,600% return means that for every $1 invested, they walked away with $17. Other early investors saw that and started thinking: “That is an amazing return. But is BigHit really not going public?” At the time, BigHit’s position was basically: “We do not plan to go public unless the company is valued at least 4 trillion won. Right now, it is closer to 1 trillion won, so an IPO is not realistic.” That made more investors want to sell their shares instead of waiting for an uncertain IPO. Some examples: One investor, LC, did not necessarily want to sell everything, but wanted BigHit to at least look like it was preparing for an IPO so they could explain the situation to their own investors. BigHit then applied for a designated audit. A designated audit is a formal financial review required as part of the IPO process in South Korea. Applying for one is generally seen as a signal that a company is at least considering going public. Another investor, A, needed cash urgently because of the Lime scandal, a major South Korean financial fraud case in which investors lost large sums, and wanted to sell quickly. An executive at another investor, C, allegedly told BigHit not to use their stake to make extra profit and to simply help sell it as fast as possible. BigHit eventually agreed to help arrange the sales.

A simplified explainer of the BigHit/HYBE IPO controversy BigHit, the company behind BTS and later renamed HYBE, went public in 2020. The controversy is about what happened before the IPO. The core allegation is this: BigHit and Bang Si-hyuk allegedly made some early investors believe that an IPO was unlikely or uncertain, which pushed them to sell their shares before the company went public. At the same time, Bang Si-hyuk allegedly had private profit-sharing agreements with some of the new buyers, meaning he would personally receive a large cut if the IPO succeeded. BigHit/Bang’s side argues that the IPO really was uncertain at the time, that no one could have predicted COVID, the global stock market boom, or the success of “Dynamite,” and that the old investors chose to sell their shares voluntarily. In 2018, one early investor, referred to here as L, told BigHit that they wanted to sell their stake, meaning their ownership share in the company. Their reasoning was simple: if BigHit did not go public, they would have to return money to their own investors. So instead of waiting, they wanted to cash out. A new investor, S, became interested in buying those shares. But S was worried. At the time, BTS’s military enlistment was seen as a major risk. If BigHit failed to go public before BTS members began enlisting, the value of the investment could fall. So S proposed a deal: “If BigHit does not go public within five years, buy the shares back from us with interest. But if the IPO succeeds, we will give you 30% of the profit.” According to the allegation, BigHit/Bang accepted this structure. But instead of making it an official company-level agreement, the profit-sharing deal was made as a private contract with Bang Si-hyuk personally. That distinction matters because BigHit as a company was publicly presenting the IPO as uncertain, while Bang, the company’s founder and key figure, allegedly had a personal upside if the IPO succeeded. Investor L eventually sold and reportedly made a massive return — around 1,600%. A 1,600% return means that for every $1 invested, they walked away with $17. Other early investors saw that and started thinking: “That is an amazing return. But is BigHit really not going public?” At the time, BigHit’s position was basically: “We do not plan to go public unless the company is valued at least 4 trillion won. Right now, it is closer to 1 trillion won, so an IPO is not realistic.” That made more investors want to sell their shares instead of waiting for an uncertain IPO. Some examples: One investor, LC, did not necessarily want to sell everything, but wanted BigHit to at least look like it was preparing for an IPO so they could explain the situation to their own investors. BigHit then applied for a designated audit. A designated audit is a formal financial review required as part of the IPO process in South Korea. Applying for one is generally seen as a signal that a company is at least considering going public. Another investor, A, needed cash urgently because of the Lime scandal, a major South Korean financial fraud case in which investors lost large sums, and wanted to sell quickly. An executive at another investor, C, allegedly told BigHit not to use their stake to make extra profit and to simply help sell it as fast as possible. BigHit eventually agreed to help arrange the sales.

it gets worse when you hear the lyrics

it gets worse when you hear the lyrics

"BTS is heavily carried by their fans" well then what are fans supposed to do? Sell cupcakes? I'm confused

armys playfighting for songs for their dates but im losing my mind that no one is requesting for HEARTBEAT 😭 can we get some ORDER in this house??? 😭😭😭 WE NEED TO HEAR HEARTBEAT ATP LEAST ONCE LIVE !!! I DONT CARE WHERE THEY PLAY IT WE NEED TO HEAR IT SOMEWHERE

pied piper out, por favor um minuto de silencio