Horizon Space terminates SPAC merger with Squirrel; extends deadline to Oct 27, 2025

Horizon Space Acquisition I Corp.

Mutual termination of Business Combination Agreement with Squirrel Enlivened Technology; no termination fee payable.
Sponsor deposits $120,000 monthly extension fee into trust, extending deadline from Sep 27 to Oct 27, 2025.
Underwriting amendment converts $2,415,000 deferred commission into 805,000 post-combination shares at $3.00.
Company issued $120,000 non-interest promissory note to sponsor for extension; convertible into units at $10.00 per unit.
Company still has until Dec 27, 2025 (with two further monthly extensions) to complete an initial business combination.

item 1.01 item 1.02 item 2.03 item 3.02 item 9.01

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 aggregate principal amount of $120,000 with Horizon Space Acquisition I Sponsor Corp. at bears no interest maturing 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: aggregate principal amount of $120,000
Counterparty: Horizon Space Acquisition I Sponsor Corp.
Rate: bears no interest
Maturity: 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 issued an unsecured promissory note in the aggregate principal amount of $120,000 (the “ Note ”) dated September 30, 2025 to the Sponsor in connection with the payment of the Monthly Extension Fee.

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306 debt financings filed in the last 30 days. Browse all debt financings →

Horizon Space Acquisition I Corp. filing history →

Source: SEC EDGAR

accession 0001929980-25-000663

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