Horizon Space Acquisition I Corp. Files 8-K

TL;DR

Horizon Space Acquisition I Corp. filed an 8-K on 6/27/24, signaling a material agreement and new financial/equity events.

AI Summary

Horizon Space Acquisition I Corp. announced on June 27, 2024, that it entered into a Material Definitive Agreement. The company also disclosed the creation of a Direct Financial Obligation and unregistered sales of equity securities. Specific details regarding the agreement, financial obligations, and equity sales were not provided in this initial filing.

Why It Matters

This filing indicates significant corporate actions by Horizon Space Acquisition I Corp., including potential new financial obligations and equity transactions, which could impact its future operations and shareholder value.

Risk Assessment

Risk Level: medium — The filing indicates material definitive agreements and financial obligations, which often carry inherent risks and uncertainties for the company and its investors.

Key Players & Entities

• Horizon Space Acquisition I Corp. (company) — Registrant
• June 27, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — nits, consisting of one Ordinary Share, $0.0001par value , one redeemable Warrant to ac
• $11.50 — Ordinary Share at an exercise price of $11.50 HSPOW The Nasdaq Stock Market LLC
• $60,000 — nsor ") and/or its designee, depositing $60,000 (the " Monthly Extension Fee ") into th
• $10.00 — ipal amount payable to the payee by (y) $10.00. Notwithstanding the issuance of the N

Filing Documents

• hspo_8k.htm (8-K) — 37KB
• hspo_ex101.htm (EX-10.1) — 30KB
• 0001929980-24-000278.txt ( ) — 230KB
• hspo-20240627.xsd (EX-101.SCH) — 6KB
• hspo-20240627_lab.xml (EX-101.LAB) — 18KB
• hspo-20240627_cal.xml (EX-101.CAL) — 1KB
• hspo-20240627_pre.xml (EX-101.PRE) — 13KB
• hspo-20240627_def.xml (EX-101.DEF) — 5KB
• hspo_8k_htm.xml (XML) — 8KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. The disclosures set forth under Item 2.03 are incorporated by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. Pursuant to the amended and restated memorandum and articles of association (the " Charter ") of Horizon Space Acquisition I Corp., a Cayman Islands exempted company (the " Company "), the Company currently has until June 27, 2024 to complete its initial business combination, however the Company may extend the period of time to consummate a business combination up to December 27, 2024, each by an additional one-month extension, subject to Horizon Space Acquisition I Sponsor Corp., a Cayman Islands company, the sponsor of the Company (the " Sponsor ") and/or its designee, depositing $60,000 (the " Monthly Extension Fee ") into the trust account of the Company (the " Trust Account "). On or about June 27, 2024, an aggregate of $60,000 of the Monthly Extension Fee was deposited into the Trust Account for the public shareholders, which enables the Company to extend the period of time it has to consummate its initial business combination by one month from June 27, 2024 to July 27, 2024 (the " Extension "). The payment of the Monthly Extension Fee was made by Shenzhen Squirrel Enlivened Media Group Co. Ltd (the " Target "), pursuant a non-binding letter of intent entered into by and between the Company and Target on October 17, 2023, in connection with a potential business combination with the Target (the " LOI "). The Company issued an unsecured promissory note in the aggregate principal amount of $60,000 (the " Note ") dated June 27, 2024 to the Target in connection with the payment of the Monthly Extension Fee. The Note bears no interest and is payable in full upon the earlier to occur of (i) the consummation of the Company's business combination or (ii) the date of expiry of the term of the Company (the " Maturit

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The information disclosed under Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02 to the extent required herein. The Units (and the underlying securities) issuable upon conversion of the Note, if any, (1) may not, subject to certain limited exceptions, be transferable or salable by the Payee until the completion of the Company's initial business combination and (2) are entitled to registration rights. 2

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Extension Promissory Note, dated June 27, 2024, issued by the Company to Shenzhen Squirrel Enlivened Media Group Co. Ltd. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Horizon Space Acquisition I Corp. Date: June 28, 2024 By: /s/ Mingyu (Michael) Li Name: Mingyu (Michael) Li Title: Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR