We advised Seyond on the transactions

Davis Polk advised Seyond Holdings Ltd. in connection with its business combination with TechStar Acquisition Corporation. The business combination values Seyond at a pre-money equity value of HK$11.7 billion. It was accompanied by a concurrent private placement exceeding HK$900 million.

Seyond is a global leader in the design, development and production of automotive-grade light detection and ranging (LiDAR) solutions. The company provides automotive-grade LiDAR solutions for autonomous driving and other automotive and non-automotive application scenarios.

TechStar is a special purpose acquisition company (SPAC), focusing its efforts on identifying high-growth enterprises in the “new economy” sector in China, including but not limited to innovative technology, advanced manufacturing, healthcare, life sciences, culture and entertainment, consumer and e-commerce, green energy and climate actions industries that align with the national economic trends and industrial policies.

The Davis Polk corporate team included partners Li He, Jason Xu and Ran Li, counsel – registered foreign lawyer Jennifer (Yujia) Jiang, associates Calvin Lam, Yi Kai Sit and Andrew Pu and registered foreign lawyer Jed Rothstein. Counsel Matthew R. Silver provided 1940 Act advice. Counsel Alon Gurfinkel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and London offices.

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