Horizon Space Acquisition I Corp. (HSPOF): debt financing — Horizon Space SPAC extends deadline to Dec 27, 2023; target funds $70K extension

Horizon Space Acquisition I Corp.

Trust account extended one month to Dec 27, 2023 via $70,000 deposit by Shenzhen Squirrel Enlivened Media Group.
Company issued a $70,000 convertible promissory note to the target; note converts into units at $10/unit upon business combination.
Extension funded by target under non-binding LOI; no definitive agreement yet for business combination.
Note is unregistered, bears no interest, and matures at business combination or SPAC termination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Horizon Space Acquisition I Corp. incurred loan of $70,000 with Shenzhen Squirrel Enlivened Media Group Co. Ltd at no interest maturing earlier of business combination or expiry of company term.

Instrument: loan
Principal: $70,000
Counterparty: Shenzhen Squirrel Enlivened Media Group Co. Ltd
Rate: no interest
Maturity: earlier of business combination or expiry of company term
Event: incurrence

Exact text from the filing

The Company has issued an unsecured promissory note in the aggregate principal amount of $70,000 (the “ Note ”) to the Target in connection with the payment of the Monthly Extension Fee on November 21, 2023.

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Horizon Space Acquisition I Corp. filing history →

Source: SEC EDGAR

accession 0001929980-23-000288

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