Horizon Space Acquisition I Corp. (HSPOF): debt financing — HSPO extends business combination deadline to Feb 25, 2025 with $120k extension from Squirrel HK

Horizon Space Acquisition I Corp.

On Jan 24, 2025, Squirrel HK deposited $120,000 into HSPO's trust account to extend the merger deadline by one month to Feb 25, 2025.
HSPO will issue a zero-interest unsecured promissory note for $120,000 to Squirrel HK, payable upon closing or company expiry.
This is the first of up to eleven possible monthly extensions, allowing HSPO until Dec 27, 2025 to complete its initial business combination.
Squirrel HK is the same counterparty under the Business Combination Agreement dated Sep 16, 2024 with Squirrel Enlivened Technology Co.

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 $120,000 with Squirrel Enlivened (Hong Kong) Technology Limited at 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.

Instrument: loan
Principal: $120,000
Counterparty: Squirrel Enlivened (Hong Kong) Technology Limited
Rate: 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

The Company will issue an unsecured promissory note in the aggregate principal amount of $120,000 (the “ Note ”) to Squirrel HK in connection with the payment of the Monthly Extension Fee.

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Horizon Space Acquisition I Corp. filing history →

Source: SEC EDGAR

accession 0001929980-25-000049

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