debt
confidence high
sentiment neutral
materiality 0.20
Horizon Space Acquisition I Corp. issues $300K unsecured promissory note to sponsor for working capital
Horizon Space Acquisition I Corp.
- Principal $300,000, unsecured, non-interest bearing; due upon consummation of business combination or term expiry.
- Proceeds used for general working capital; sponsor may convert note into private units at $10.00 per unit.
- Note was issued as an unregistered sale of securities under Section 4(a)(2) of the Securities Act.
- Repayment limited to assets outside the trust account if no business combination occurs.
- Conversion rights include up to 30,000 units (each: one ordinary share, one warrant, one right) if fully converted.