Loan & DebtJul 21, 2026, 04:27 PM
Horizon Space Acquisition I Issues $500K Promissory Note
AI Summary
Horizon Space Acquisition I Corp. issued an unsecured promissory note for $500,000 to its sponsor, Horizon Space Acquisition I Sponsor Corp. The proceeds will be used for general working capital purposes. The note bears no interest and is payable upon the earlier of the company's initial business combination or the expiry of its term. The sponsor has the right, but not the obligation, to convert the note into private units.
Key Highlights
- Horizon Space Acquisition I Corp. issued an unsecured promissory note for $500,000.
- The note was issued to Horizon Space Acquisition I Sponsor Corp. for general working capital.
- The note bears no interest and is payable upon the earlier of a business combination or company term expiry.
- The Sponsor has the option to convert the note into private units.
- Each unit consists of one ordinary share, one warrant, and one-tenth of an ordinary share.
- Conversion rate is based on dividing the principal amount by $10.00 per unit.
Price Impact
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