Overview
- SEC filings show Rich Sparkle completed the acquisition of Step Distinctive via 75 million newly issued shares valued at $975 million with no cash component.
- Because Lame owned 49% of Step Distinctive, his consideration equates to roughly 36.75 million Rich Sparkle shares, a stake that would be difficult to liquidate quickly given low trading volumes.
- The agreement grants Rich Sparkle exclusive commercial rights for a reported multi-year term and authorizes development of an AI digital twin using Lame’s image, voice and behavioral models.
- Rich Sparkle projects more than $4 billion in annual sales from the partnership, despite being a recent NASDAQ listing with roughly $6 million in prior-year revenue.
- Coverage differs on whether Lame becomes a controlling shareholder, and analysts caution that ownership and liquidity constraints complicate simple billionaire claims.