Davis Polk advised Highland Transcend Partners I Corp. on its $300 million initial public offering of 30,000,000 units. Each unit had an initial offering price of $10 and consists of one Class A ordinary share and one-third of one redeemable warrant. The units, the shares and the warrants are listed on the New York Stock Exchange. The units include 2,500,000 units purchased pursuant to a partial exercise of the underwriters’ over-allotment option. 

The company is a newly incorporated special purpose acquisition company (SPAC) formed for the purpose of effecting an initial business combination, and intends to focus on disruptive commerce, digital media and services, and enterprise software sectors, with a primary focus on North American and European markets.

The Davis Polk capital markets team included partners Derek Dostal and Deanna L. Kirkpatrick and associates Stephen A. Byeff and Alba Baze. The M&A team included partner Lee Hochbaum and associate Malik M. Khalil. Counsel Gregory D. Hughes provided executive compensation advice. The tax team included counsel Kiara L. Rankin. Members of the Davis Polk team are based in the New York and Northern California offices.