SPACInsider Logo
Highland Transcend Partners I Corp. (HTPA) to Liquidate Trust
Highland Transcend Partners I Corp. (HTPA) to Liquidate Trust
by Nicholas Alan Clayton on 2022-11-22 at 7:12am

Highland Transcend I (NASDAQ:HTPA) announced this morning that it will redeem all public shares effective December 8 as it will not complete a business combination.

Shareholders are expected to receive a redemption rate of $10.06 per share and Highland Transcend I is to cease all operations other than its winding down efforts on December 7.

The SPAC raised $300 million in its December 2020 IPO led by Goldman Sachs veteran Ian Friedman at CEO and Highland Capital General Partner Bob Davis serving as executive chairman. The team aimed to combine with a disruptive target company in the commerce, digital media and enterprise software spaces.

In September 2021, it announced a $1.55 billion combination with ecommerce service provider Packable, but this was later terminated in March of this year, citing “unfavorable market conditions”.

Highland Transcend I has joined seven other SPACs that have opted to liquidate this week ahead of the Thanksgiving holiday in the US, following GigInternational1 (NASDAQ:GIW), HumanCo (NASDAQ:HMCO), INSU III (NASDAQ:IIII), Population Health (NASDAQ:PHIC), Jiya Acquisition Corp. (NASDAQ:JYAC), FinTech Acquisition Corp. V (NASDAQ:FTCV) and FinTech Acquisition Corp. VI (NASDAQ:FTVI).

 

Recent Posts
by Marlena Haddad on 2022-11-28 at 12:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE Virgin Galactic, Preparing for Liftoff,...

by Nicholas Alan Clayton on 2022-11-25 at 2:31pm

PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...

by Marlena Haddad on 2022-11-25 at 11:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...

by Nicholas Alan Clayton on 2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

by Marlena Haddad on 2022-11-23 at 4:49pm

Venus Acquisition Corp. (NASDAQ:VENA) announced this afternoon that it has secured an investor for a backstop agreement in connection to its business combination with VIYI Algorithm. Venus and its sponsor, Yolanda Management Corporation, entered into a backstop agreement with Joyous JD Limited to purchase VENA shares from third parties through a broker in the open market, or...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved