debt
confidence high
sentiment neutral
materiality 0.30
Horizon Space Acquisition I issues $400K promissory note to sponsor for working capital
Horizon Space Acquisition I Corp.
- Issued $400,000 unsecured promissory note to sponsor Horizon Space Acquisition I Sponsor Corp.
- Note bears no interest, payable upon business combination or expiry of the SPAC's term.
- Proceeds used for general working capital purposes until initial business combination.
- Sponsor may convert outstanding principal into private units at $10 per unit upon closing of a business combination.
- Repayment limited to amounts outside the trust account if no business combination occurs.