Horizon Space Acquisition I Corp. (HSPOF): debt financing — Horizon Space Acquisition I Corp. issues $300K promissory note to sponsor for working capital

Horizon Space Acquisition I Corp.

Unsecured promissory note of $300,000 issued to sponsor Horizon Space Acquisition I Sponsor Corp.
Note bears no interest; principal due upon business combination or expiry of SPAC term.
Proceeds used for general working capital; convertible into units at $10.00 per unit at sponsor's option.
Conversion units consist of one ordinary share, one warrant, and one right to receive 1/10 share.

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 loan of $300,000 with Horizon Space Acquisition I Sponsor Corp. at The Note bears no interest maturing 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.

Instrument: loan
Principal: $300,000
Counterparty: Horizon Space Acquisition I Sponsor Corp.
Rate: The Note bears no interest
Maturity: 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
Event: incurrence

Exact text from the filing

On April 12, 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 $300,000 to Horizon Space Acquisition I Sponsor Corp., a Cayman Islands company, the sponsor of the Company (the “ Sponsor ”).

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Horizon Space Acquisition I Corp. filing history →

Source: SEC EDGAR

accession 0001929980-24-000104

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