Highland Transcend Partners I, a blank check company formed by Highland Capital Partners targeting disruptive tech, raised $275 million by offering 27.5 million shares at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by CEO and Director Ian Friedman, who previously served as Co-Head of Goldman Sachs Investment Partners, Venture Capital and Growth Equity team. He is joined by Executive Chairman Bob Davis and CFO Paul Maeder, who both currently serve as General Partners with VC firm Highland Capital Partners. Highland Capital Partners I intends to pursue a target in the disruptive commerce, digital media and services, and enterprise software sectors, with a primary focus on North American and European markets.
Highland Transcend Partners I plans to list on the NYSE under the symbol HTPA.U. Goldman Sachs and J.P. Morgan acted as lead managers on the deal.
The article Highland Capital Partners' SPAC Highland Transcend I prices upsized $275 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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