DB Schenker – high bid whisper and... hope
A deal to regret
SEEKING ALPHA reports:
– E-commerce company Packable agreed to go public through a deal with SPAC Highland Transcend Partners I (NYSE:HTPA) in a deal that values the combined company at enterprise value of $1.55B.
– Packable, which is backed by PE firm Carlyle Group (NASDAQ:CG), expects to add about $434M to its balance sheet through the transaction, according to a statement. This includes a $180M PIPE with investors including Fidelity Management, Lugard Road, Luxor Capital, Park West Asset and Morningside.
– The deal is expected to close in several months. Upon completion of the transaction, Packable is expected to be listed on NYSE under the ticker symbol “PKBL.”
– Founded in 2010 as Pharmapacks, a business that started out as a single brick-and-mortar pharmacy, has evolved into a platform that connects consumers to health, beauty and wellness brands on popular online marketplaces including Amazon (NASDAQ:AMZN). Carlyle invested more than $250M in the company in November .
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The full press release can be found here.
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