SPACInsider Logo
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 Nicholas Alan Clayton on 2023-01-30 at 2:04pm

Seaport Calibre Materials Acquisition Corp. (NASDAQ:SCMA) announced in an 8-K that it has inked new non-redemption agreements after postponing its initial extension vote. The SPAC has agreed to allocate up to 37,500 promote shares (1.1%) to investors holding in exchange for them agreeing not to redeem an aggregate of 150,000 shares at the vote now...

by Marlena Haddad on 2023-01-30 at 1:22pm

Armada I (NASDAQ:AACI) announced this afternoon that it has once again postponed its extension vote. The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, and will now be pushing it back until tomorrow, January 31. Armada has also extended the deadline for holders to submit their public...

by Nicholas Alan Clayton on 2023-01-30 at 12:07am

Prime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade...

by Marlena Haddad on 2023-01-30 at 11:42am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Hambro Perks eyes merger with Biotech Istesso, Rocket Lab launches first vehicle from U.S. soil, and Alliance Entertainment signs licensing agreement with The Walt Disney Company Hambro Perks SPAC Eyes Merger With Biotech...

by Marlena Haddad on 2023-01-30 at 10:15am

Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...

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