Details on Khaby Lame’s $975 Million Deal Deepen Mystery as Shares Slide

Deal remains conditional

Rich Sparkle’s September 30 financial filing, its first since March, says the proposed deal with Lame’s company remains subject to due diligence, a minimum valuation and stock exchange approval. The filing uses conditions that appeared in earlier disclosures.

Lame stopped commenting on the merger in late January. He also removed Rich Sparkle’s stock ticker, ANPA, from his social-media bios around that time.

Shares fall sharply

Rich Sparkle’s stock rose to about $180 after the company announced its deal with Lame’s company in January. By Thursday’s close, it had dropped to $1.93, a decline of 99% from its peak.

Plans for Lame’s avatar

When the deal was announced, Rich Sparkle said it planned to create an AI avatar of Lame for brand deals and product sales on social media. The company projected that the business could generate more than $4 billion in annual product sales.

The filing also says Rich Sparkle issued nearly $39 million in stock to staff as compensation during the six months ended March 31, and recorded an operating loss of almost $40 million. In the year-earlier period, it issued no share-based compensation.

Staff shares and Lame’s work

The stock issuance means some employees could have benefited from the share-price surge after the deal announcement. The filing does not say which staff members received shares or when they received them during the six-month period.

Lame continues to work with brands. He recently appeared in the James Bond-inspired video game “007 First Light,” became a brand ambassador for travel eSIM company Holafly, and promoted the Dakar 2026 Youth Olympic Games.