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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Highland Transcend Partners I Corp. (“Highland” or the “Company”) (NYSE: HTPA) with Packable. Under the terms of the merger, the combined company will have a pro forma ownership of approximately 71% existing shareholders, 19% SPAC and founder shares and 11% PIPE and convert investors. As part of the transaction, existing Packable shareholders will be eligible to receive up to 12 million additional earnout shares, based on Packable’s future stock performance.
The Highland merger investigation concerns whether the Board of Highland has harmed stockholders by agreeing to enter into this transaction and whether all material facts have been properly disclosed to stockholders.
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