Horizon Space Acquisition I Extends Business Combination Timeline

Horizon Space Acquisition I Corp. (NASDAQ: HSPOU) recently disclosed in a Form 8-K filing to the Securities and Exchange Commission (SEC) that it has extended the timeline for the completion of its initial business combination. As per the amended and restated memorandum and articles of association, the company had until December 27, 2024, to conclude its initial business combination. It has the option to extend this timeframe by up to twelve one-month extensions, with the latest possible extension date set at December 27, 2025. The extension is subject to a deposit of $120,000 (Monthly Extension Fee) into the Company’s Trust Account by Horizon Space Acquisition I Sponsor Corp., the sponsor of the company.

On December 27, 2024, Shenzhen Squirrel Enlivened Media Group Co., Ltd deposited $120,000 into the Trust Account, enabling Horizon Space Acquisition I Corp. to extend the business combination deadline to January 27, 2025. This payment was made in connection with the proposed business combination as outlined in the Business Combination Agreement. In conjunction with this transaction, the company issued an unsecured promissory note to Shenzhen Squirrel for the same amount. The note, bearing no interest, is payable upon the completion of the business combination or the maturity date of the company.

The company reiterated that failure to meet payment obligations or various default events outlined in the promissory note may lead to the acceleration of the note. A full copy of the note can be referenced in Exhibit 10.1 of the Current Report on Form 8-K.

The filing also included forward-looking statements outlining potential outcomes and risks associated with the proposed business combination between Horizon Space Acquisition I Corp. and Shenzhen Squirrel Enlivened Media Group Co. Ltd. Investors are advised to consider the risks associated with these forward-looking statements as detailed in prior SEC filings.

Furthermore, in connection with the business combination, Squirrel Cayman plans to file a registration statement and preliminary proxy statement with the SEC, providing comprehensive information about the transaction and the businesses involved.

For further details and updates on the proposed business combination, investors and stakeholders are encouraged to carefully review all SEC filings and relevant documents related to the transaction once they become available.

This filing concludes with details about the necessary financial statements and exhibits related to the disclosure. For complete information, interested parties may access these documents on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Horizon Space Acquisition I’s 8K filing here.

Horizon Space Acquisition I Company Profile

Horizon Space Acquisition I Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or related business combination with one or more businesses. Horizon Space Acquisition I Corp. was incorporated in 2022 and is based in New York, New York.