Horizon Space Acquisition I Corp. Files 8-K on Key Agreements

TL;DR

HSAC filed an 8-K detailing new agreements and equity sales.

AI Summary

Horizon Space Acquisition I Corp. filed an 8-K on October 11, 2024, reporting on events that occurred on October 8, 2024. The filing indicates the entry into a material definitive agreement, the creation of a direct financial obligation, and unregistered sales of equity securities. Specific details regarding the nature of these agreements and sales are not fully elaborated in the provided text.

Why It Matters

This 8-K filing signals significant corporate actions by Horizon Space Acquisition I Corp., potentially impacting its financial obligations and equity structure.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements, financial obligations, and unregistered equity sales, which can carry inherent risks and require further investigation.

Key Players & Entities

• Horizon Space Acquisition I Corp. (company) — Registrant
• October 8, 2024 (date) — Earliest event reported
• October 11, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — nits, consisting of one Ordinary Share, $0.0001 par value, one redeemable Warrant to ac
• $11.50 — Ordinary Share at an exercise price of $11.50 HSPOW The Nasdaq Stock Market LLC
• $400,000 — he " Note ") in the principal amount of $400,000 to Horizon Space Acquisition I Sponsor
• $10.00 — ipal amount payable to the payee by (y) $10.00. The issuance of the Note was made pur

Filing Documents

• hspo_8k.htm (8-K) — 35KB
• hspo_ex101.htm (EX-10.1) — 38KB
• 0001929980-24-000467.txt ( ) — 234KB
• hspo-20241008.xsd (EX-101.SCH) — 6KB
• hspo-20241008_lab.xml (EX-101.LAB) — 18KB
• hspo-20241008_cal.xml (EX-101.CAL) — 1KB
• hspo-20241008_pre.xml (EX-101.PRE) — 13KB
• hspo-20241008_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. On October 8, 2024, Horizon Space Acquisition I Corp., a Cayman Islands exempted company (the " Company ") issued an unsecured promissory note (the " Note ") in the principal amount of $400,000 to Horizon Space Acquisition I Sponsor Corp., a Cayman Islands company, the sponsor of the Company (the " Sponsor "). The proceeds of the Note, which may be drawn down from time to time until the Company consummates its initial business combination, will be used as general working capital purposes. 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 " Maturity Date "). The following shall constitute an event of default: (i) a failure to pay the principal within five business days of the Maturity Date; (ii) the commencement of a voluntary or involuntary bankruptcy action, (iii) the breach of the Company's obligations thereunder; (iv) any cross defaults; (v) an enforcement proceedings against the Company; and (vi) any unlawfulness and invalidity in connection with the performance of the obligations thereunder, in which case the Note may be accelerated. The payee of the Note, the Sponsor, or its registered assignees or successors in interest (the " Payee "), has the right, but not the obligation, to convert the Note, in whole or in part, respectively, into private units (the " Units ") of the Company, each consisting of one ordinary share, par value $0.0001 per share (the " Ordinary Share "), one warrant, and one right to receive one-tenth (1/10) of one Ordinary Share upon the consummation of a business combination, as described in the prospectus of the Company (File No: 333-268578

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.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Sponsor Promissory Note, dated October 8, 2024, issued by the Company to Horizon Space Acquisition I Sponsor Corp. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

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: October 11, 2024 By: /s/ Mingyu (Michael) Li Name: Mingyu (Michael) Li Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR