Horizon Space Acquisition I Corporation (HSPO) has released an update to notify the public and investors about its financial commitment initiation.
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Horizon Space Acquisition I Corp., backed by its sponsor, has secured a one-month extension until February 27, 2024, to finalize its initial business combination by depositing $70,000 into its trust account, funded by Shenzhen Squirrel Enlivened Media Group Co. Ltd. in anticipation of a potential business combination. The payment is structured as an unsecured, interest-free promissory note which may be converted into private units of the company and is due at the earlier of the business combination’s completion or the company’s expiration. No definitive agreement for the business combination has been reached yet, despite the extension and letter of intent.
For further insights into HSPO financials, check out TipRanks’ Financials page.