Highland Transcend Partners I, a blank check company formed by Highland Capital Partners targeting disruptive commerce, digital media, and enterprise software, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The Cambridge, MA-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Highland Transcend Partners I will command a market value of $313 million.
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 was founded in 2020 and has not yet disclosed an exchange or ticker (RC ticker: HTPIU.RC). The SPAC filed confidentially on October 23, 2020. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.
