Horizon Space Acquisition I Corp. Files 8-K
Ticker: HSPWF · Form: 8-K · Filed: Aug 26, 2024 · CIK: 1946021
Sentiment: neutral
Topics: material-agreement, financial-obligation, equity-sale, spac
TL;DR
Horizon Space Acquisition I Corp. signed a deal, took on debt, and sold stock on Aug 22. Details TBD.
AI Summary
Horizon Space Acquisition I Corp. entered into a material definitive agreement on August 22, 2024. The company also incurred a direct financial obligation and engaged in unregistered sales of equity securities. Specific details regarding the agreement, obligation, and sales are not provided in this filing excerpt.
Why It Matters
This filing indicates significant corporate actions by Horizon Space Acquisition I Corp., including new agreements and financial obligations, which could impact its future operations and shareholder value.
Risk Assessment
Risk Level: medium — The filing indicates material definitive agreements and financial obligations, which inherently carry risks, but the specific nature and impact are not detailed.
Key Players & Entities
- Horizon Space Acquisition I Corp. (company) — Registrant
- August 22, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Horizon Space Acquisition I Corp. on August 22, 2024?
The provided excerpt does not specify the details of the material definitive agreement.
What is the direct financial obligation incurred by Horizon Space Acquisition I Corp.?
The filing mentions a direct financial obligation but does not provide specific details about its nature or amount.
What type of equity securities were sold in the unregistered sale?
The filing indicates unregistered sales of equity securities but does not specify the type or quantity.
What is the significance of the 'BLANK CHECKS [6770]' SIC code for Horizon Space Acquisition I Corp.?
The SIC code 'BLANK CHECKS [6770]' suggests that Horizon Space Acquisition I Corp. is a special purpose acquisition company (SPAC).
What are the key items reported in this 8-K filing?
The key items reported are Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Unregistered Sales of Equity Securities, and Financial Statements and Exhibits.
Filing Stats: 1,246 words · 5 min read · ~4 pages · Grade level 13 · Accepted 2024-08-26 16:00:22
Key Financial Figures
- $0.0001 — nits, consisting of one Ordinary Share, $0.0001 par value , one redeemable Warrant to a
- $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) — 33KB
- 0001929980-24-000379.txt ( ) — 233KB
- hspo-20240822.xsd (EX-101.SCH) — 6KB
- hspo-20240822_lab.xml (EX-101.LAB) — 18KB
- hspo-20240822_cal.xml (EX-101.CAL) — 1KB
- hspo-20240822_pre.xml (EX-101.PRE) — 13KB
- hspo-20240822_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 August 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 August 22, 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 August 27, 2024 to September 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 August 26, 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 (
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 August 26, 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: August 26, 2024 By: /s/ Mingyu (Michael) Li Name: Mingyu (Michael) Li Title: Chief Executive Officer 4