Horizon Space extends deadline to May 27, 2024; target deposits $60k extension fee per LOI

Horizon Space Acquisition I Corp.

Extension fee of $60,000 deposited into trust by target Shenzhen Squirrel Enlivened Media Group on April 23, 2024.
Deadline for initial business combination extended from April 27 to May 27, 2024.
Company issued unsecured promissory note of $60,000 to target, convertible into units at $10/unit upon business combination.
Note bears no interest, payable upon business combination or expiry; events of default include bankruptcy and cross-default.
No definitive agreement for business combination has been entered; LOI remains non-binding.

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