8-K
filed September 27, 2023, 7:59 PM ET
ticker HSPOF
CIK 0001946021
other material
confidence high
sentiment neutral
materiality 0.60
Horizon Space Acquisition I Corp. (HSPOF): debt financing — Horizon Space Acquisition I shareholders approve SPAC extension to March 2024; 562,779 shares redeemed
Horizon Space Acquisition I Corp.
- Approved charter amendment allowing up to six one-month extensions to March 27, 2024, without further shareholder vote.
- First $70,000 monthly extension deposit made; unsecured promissory note issued to sponsor Horizon Space Acquisition I Sponsor Corp.
- 562,779 ordinary shares redeemed in connection with the extension votes.
- Approval received from over 85% of outstanding shares; 7,521,954 for, 351,786 against on both proposals.
- Trust account liquidation deadline extended from Sept 27, 2023, with option for monthly extensions up to March 2024.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Horizon Space Acquisition I Corp. incurred debt of $70,000 with Horizon Space Acquisition I Sponsor Corp. at bears no interest maturing 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.
- Principal
- $70,000
- Counterparty
- Horizon Space Acquisition I Sponsor Corp.
- Rate
- bears no interest
- Maturity
- 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
- Event
- incurrence
Exact text from the filing
In connection with the Monthly Extension Payment, the Company issued an unsecured promissory note of $70,000 (the “ Note ”) to Horizon Space Acquisition I Sponsor Corp., a Cayman Islands company, the sponsor of the Company (the “ Sponsor ”).
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Horizon Space Acquisition I Corp.: Amended Articles 48.7 and 48.8 of the Charter to extend the termination date for a business combination from September 27, 2023 to up to March 27, 2024 via monthly extensions (effective 2023-09-27).
- Change
- charter amendment
- Effective
- 2023-09-27
Exact text from the filing
At the Shareholder Meeting, the shareholders of the Company approved the proposal to amend Articles 48.7 and 48.8 of the Company’s Amended and Restated Memorandum and Articles of Association (the “ Charter ”) (such amendment, the “ Amended Charter ”) to provide that the Company must (i) consummate a business combination, or (ii) cease its operations except for the purpose of winding up if it fails to complete such Business Combination and redeem or repurchase 100% of the Company’s public shares included as part of the public units issued in the Company’s initial public offering, by September 27, 2023 (the “ Termination Date ”), and if the Company does not consummate a business combination by September 27, 2023, the Termination Date may be extended up to six times, each by a Monthly Extension, for a total of up to six months to March 27, 2024, without the need for any further approval of the Company’s shareholders.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.4
Horizon Space Acquisition I Corp. amended Trust Amendment with Continental Stock Transfer & Trust Company (effective 2023-09-25).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Effective
- 2023-09-25
Exact text from the filing
inary general meeting (the “ Shareholder Meeting ”), where the shareholders of the Company approved, among others, the Company to amend the Investment Management Trust Agreement dated December 21, 2022 (the “ Trust Agreement ”), by and between the Company and Continental Stock Transfer & Trust Company, a New York limited purpose trust company (the “ Trustee ”) to provide that the Trustee must commence liquidation of the Company’s trust account (the “ Trust Account ”) by September 27, 2023, or, if further extended by up to six one-month extensions (the “ Monthly Extension ”), up to March 27, 2024.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Horizon Space Acquisition I Corp. shareholders approved Amendment to Trust Agreement to extend liquidation deadline at the 2023-08-29 meeting.
- Outcome
- passed
- Meeting
- 2023-08-29
Exact text from the filing
2. The Trust Amendment Proposal The shareholders approved the proposal to amend the Trust Agreement to provide that the Trustee must commence liquidation of the Trust Account by September 27, 2023, or, if further extended by up to six Monthly Extensions, up to March 27, 2024. The voting results were as follows: FOR AGAINST ABSTAIN 7,521,954 351,786 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Horizon Space Acquisition I Corp. shareholders approved Amendment to Charter to extend business combination deadline at the 2023-08-29 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-29
Exact text from the filing
1. The Charter Amendment Proposal The shareholders approved the proposal to amend the Company’s Charter to provide that the Company must (i) consummate a business combination, or (ii) cease its operations except for the purpose of winding up if it fails to complete such business combination and redeem or repurchase 100% of the Company’s public shares included as part of the public units issued in the Company’s initial public offering, by September 27, 2023, and if the Company does not consummate a business combination by September 27, 2023, the Termination Date may be extended up to six times, each by a Monthly Extension, for a total of up to six months to March 27, 2024, without the need for any further approval of the Company’s shareholders. The voting results were as follows: FOR AGAINST ABSTAIN 7,521,954 351,786 0
View on SEC.gov
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