Freshfields Advised Synagistics Pte. Ltd On Its Proposed de-SPAC Transaction With HK Acquisition Corporation

Freshfields Advised Synagistics Pte. Ltd On Its Proposed de-SPAC Transaction With HK Acquisition Corporation

Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has provided legal counsel to Synagistics Pte. Ltd (‘Synagistics’) in its planned de-SPAC transaction with HK Acquisition Corporation, a special purpose acquisition company (‘SPAC’) listed on the Hong Kong Stock Exchange (‘HKSE’). The business combination agreement was executed, and the transaction was publicly announced on 28 June 2024.

The de-SPAC transaction involves merging HK Acquisition Corporation with Synagistics, resulting in Synagistics becoming a subsidiary of HK Acquisition Corporation. Post-transaction, HK Acquisition Corporation will be listed on the HKSE as the Successor Company.

Synagistics operates as a prominent platform for data-driven digital commerce solutions in Southeast Asia. The company offers integrated digital commerce solutions to its brand Partners, spanning sectors such as fashion and apparel, premium beauty and wellness, and the premium lifestyle and living sector. Synagistics' geographical footprint in Southeast Asia includes Singapore, Malaysia, the Philippines, Vietnam, Thailand, and Indonesia.

The Freshfields team advising on the transaction was led by Grace Huang (Partner) and Arun Balasubramanian (Partner) and were supported by Cindy Kwong (Counsel), Frank Jin (Senior Associate) and Kirsty Wong (Associate) and Yitian Jin (Associate).