M&A - Horizon Space Acquisition I Corp.

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Merger

Type: Update

Accession Number: 000192998025000171

Filing Summary: Horizon Space Acquisition I Corp., formed as a blank check company, is in the process of completing a merger with Squirrel Enlivened Technology Co., Ltd. The Business Combination Agreement outlines that HoldCo will merge into PubCo, followed by a merger of HSPO with Merger Sub. This merger entails the cancellation of all outstanding securities of HoldCo and HSPO in exchange for securities of PubCo according to specified ratios. Additionally, a Sponsor Support Agreement has been established, controlling the actions of shareholders and placing certain restrictions on share transfers prior to the merger's completion. The document also discusses prior efforts to maintain compliance with Nasdaq listing requirements and the results of shareholder meetings that pertained to extending deadlines for completing the initial business combination, effectively extending potentially until March 27, 2024, based on prior approvals.

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Form Type: 425

Filing Date: 2025-03-28

Corporate Action: Merger

Type: New

Accession Number: 000192998025000179

Filing Summary: Horizon Space Acquisition I Corp. disclosed a material definitive agreement regarding its business combination with Squirrel Enlivened Technology Co., Ltd. The company received a $120,000 Monthly Extension Fee deposited into its Trust Account, allowing it to extend the deadline for completing its initial business combination from March 27, 2025, to April 27, 2025. The fee was paid by Squirrel Enlivened (Hong Kong) Technology Limited pursuant to a Business Combination Agreement dated September 16, 2024. An unsecured promissory note for the same amount has been issued to Squirrel HK, with no interest and stipulated repayment conditions. This report includes forward-looking statements about potential risks and uncertainties related to the completion of the transaction and the anticipated benefits. Additionally, the company plans to file a registration statement on Form F-4 for the proposed business combination and encourages investors to review all related documentation carefully.

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Form Type: 425

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: New

Accession Number: 000192998025000180

Filing Summary: On March 26, 2025, Horizon Space Acquisition I Corp. (HSPO) secured a Monthly Extension Fee of $120,000, deposited into its Trust Account to extend the deadline for its initial business combination to April 27, 2025. This fee was provided by Squirrel Enlivened (Hong Kong) Technology Limited, related to a Business Combination Agreement dated September 16, 2024. As part of this agreement, HSPO issued an unsecured promissory note to Squirrel HK for the same amount, bearing no interest and due at the consummation of the business combination or the expiration of the Company's term. The deposit allows HSPO to explore potential merger opportunities further, as it is in the process of completing a business combination with Squirrel Companies. Additionally, risks and uncertainties surrounding this acquisition process were noted, including potential operational challenges and the necessity for shareholder approvals, with a registration statement on Form F-4 expected to be filed for the business combination proceedings.

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Form Type: 8-K

Filing Date: 2025-03-28

Corporate Action: Merger

Type: Update

Accession Number: 000192998025000178

Filing Summary: Horizon Space Acquisition I Corp. has extended the deadline to complete its initial business combination to April 27, 2025, after depositing $120,000 into its Trust Account. This deposit was made in accordance with an agreement related to a proposed merger with Squirrel Enlivened Technology Co., Ltd. The company may secure up to ten one-month extensions until December 27, 2025, depending on further deposits. Additionally, an unsecured promissory note for the same amount was issued to Squirrel Enlivened (Hong Kong) Technology Limited, with specific terms regarding default and maturity. The report outlines the ongoing preparations for the upcoming business combination and the associated regulatory filings expected to be made with the SEC.

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Form Type: 425

Filing Date: 2025-02-28

Corporate Action: Merger

Type: Update

Accession Number: 000192998025000103

Filing Summary: Horizon Space Acquisition I Corp. is extending its deadline to complete a business combination from February 27, 2025, to March 27, 2025. This extension is enabled by a $120,000 payment made into the Trust Account by Squirrel Enlivened (Hong Kong) Technology Limited, part of a larger business combination agreement dated September 16, 2024, with Squirrel Enlivened Technology Co., Ltd. The Company issued an unsecured promissory note for the same amount, which is due upon the completion of the business combination or upon the expiration of the company's term. The document outlines risks and details related to the proposed business combination, including the registration statement to be filed with the SEC that will include essential information for shareholders regarding the business merger.

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Form Type: 425

Filing Date: 2025-02-28

Corporate Action: Acquisition

Type: New

Accession Number: 000192998025000104

Filing Summary: Horizon Space Acquisition I Corp. reported on February 25, 2025, that it has made a $120,000 deposit for a Monthly Extension Fee into its Trust Account, enabling the company to extend the deadline for completing its initial business combination by one month to March 27, 2025. This decision follows the provisions outlined in the Business Combination Agreement dated September 16, 2024, involving Squirrel Enlivened Technology Co., Ltd. and related subsidiaries. Furthermore, Horizon has issued a promissory note dated February 26, 2025, for the same amount to Squirrel Enlivened (Hong Kong) Technology Limited as part of this transaction, with specific terms regarding the repayment and conditions that could trigger an event of default. This action reflects the company's ongoing efforts to finalize the proposed business combination, emphasizing its status as an emerging growth company subject to the applicable regulatory framework.

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Form Type: 8-K

Filing Date: 2025-02-28

Corporate Action: Merger

Type: Update

Accession Number: 000192998025000102

Filing Summary: On February 25, 2025, Horizon Space Acquisition I Corp. (the 'Company') extended its deadline to consummate a business combination by depositing $120,000 into the Trust Account, enabling an extension of one month to March 27, 2025. This payment was made in accordance with a Business Combination Agreement dated September 16, 2024, involving a proposed merger with Squirrel Enlivened Technology Co., Ltd and its subsidiaries. The Company has issued an unsecured promissory note for the same amount to Squirrel HK, with no interest and repayment due upon the business combination's completion or the Company's term expiry. Several risks and uncertainties attached to the business combination and the Company’s operational history were noted. The document outlines potential future performance and investor advisories regarding upcoming filings related to the transaction, including registration and proxy statements. Investors are encouraged to review necessary documentation from the SEC once available.

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Form Type: 425

Filing Date: 2025-01-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000192998025000050

Filing Summary: On January 24, 2025, Horizon Space Acquisition I Corp. extended its timeframe to consummate its initial business combination to February 25, 2025, by depositing a Monthly Extension Fee of $120,000 into the Trust Account. This payment was made by Squirrel Enlivened (Hong Kong) Technology Limited and is part of an ongoing Business Combination Agreement intended to merge with Squirrel Enlivened Technology Co., Ltd and its subsidiaries. The Company plans to issue an unsecured promissory note in the amount of $120,000 to Squirrel HK in connection with the Monthly Extension Fee, which bears no interest and is due either upon the completion of the merger or the expiration of the Company's term. There are defined events of default related to this note, including potential bankruptcy actions and breaches. Forward-looking statements made in the report discuss risks related to the consummation of the business combination and expectations regarding the advantages of merging with Squirrel Companies. HSPO is identified as an emerging growth company and has committed to filing a registration statement with the SEC regarding the proposed Business Combination, urging investors and security holders to read the forthcoming documents carefully when available.

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Form Type: 425

Filing Date: 2025-01-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000192998025000051

Filing Summary: Horizon Space Acquisition I Corp. reports on its extension of time to consummate its initial business combination. The company had until January 27, 2025, to complete the acquisition but can extend this deadline by 11 one-month extensions, with the latest extension pushing the date to February 25, 2025. An amount of $120,000 was deposited into the trust account by Squirrel Enlivened (Hong Kong) Technology Limited to enable this extension, with an unsecured promissory note issued to cover this payment. The report outlines potential risks involved with the business combination and the upcoming filing of a registration statement. It also indicates the company’s status as an emerging growth company under relevant laws.

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Form Type: 8-K

Filing Date: 2025-01-30

Corporate Action: Merger

Type: Update

Accession Number: 000192998025000049

Filing Summary: Horizon Space Acquisition I Corp. filed a report concerning a business combination with Squirrel Enlivened Technology Co., Ltd and its subsidiaries. The company extended its initial business combination deadline from January 27, 2025, to February 25, 2025, following a deposit of $120,000 in the trust account, made by Squirrel Enlivened (Hong Kong) Technology Limited. This deposit enables the company to pursue the merger stipulated in the Business Combination Agreement dated September 16, 2024. The current financial obligations include an unsecured promissory note for the same amount, which is interest-free and payable upon the consummation of the merger or on its maturity date, whichever comes first. Potential risks connected with the merger and related forward-looking statements were outlined, including challenges such as required approvals and market conditions, as well as disclaimers concerning the accuracy of the statements provided. The company also noted the intention to file a registration statement with the SEC regarding the merger, containing further information for investors and security holders.

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Form Type: 425

Filing Date: 2024-12-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000192998024000686

Filing Summary: Horizon Space Acquisition I Corp. has disclosed details regarding its proposed business combination with Squirrel HoldCo and its subsidiaries as part of its efforts to complete its initial business combination. The Company has extended its deadline to consummate the business combination by depositing $120,000 into its Trust Account, allowing an extension of one month to January 27, 2025. This payment was made pursuant to the Business Combination Agreement dated September 16, 2024. Additionally, an unsecured promissory note in the same amount was issued to Shenzhen Squirrel Enlivened Media Group Co., Ltd., reflecting the Company's ongoing commitment to this merger process. The report includes forward-looking statements that address various risks and uncertainties related to the business combination, alongside information about the necessity for shareholder approval and further regulatory filings.

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Form Type: 425

Filing Date: 2024-12-30

Corporate Action: Merger

Type: New

Accession Number: 000192998024000687

Filing Summary: Horizon Space Acquisition I Corp. filed a Form 8-K reporting an extension for completing its initial business combination, now due on January 27, 2025. The company received a deposit of $120,000 as a Monthly Extension Fee into its Trust Account, allowing the extension of the business combination period. This deposit was made by Shenzhen Squirrel Enlivened Media Group Co., Ltd., as part of a Business Combination Agreement dated September 16, 2024, involving multiple entities including Squirrel Enlivened Technology Co., Ltd. The filing indicates the company's emerging growth status and outlines significant forward-looking statements related to the potential business combination and associated risks. Additionally, the report notes that a registration statement on Form F-4 is intended to be filed, which will include a preliminary proxy statement regarding the proposed business combination. Investors are advised to carefully read forthcoming documentation related to the business combination.

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Form Type: 8-K

Filing Date: 2024-12-30

Corporate Action: Acquisition

Type: New

Accession Number: 000192998024000685

Filing Summary: On December 27, 2024, Horizon Space Acquisition I Corp. extended its business combination deadline by one month to January 27, 2025, following the deposit of $120,000 into its trust account. This payment was made by Shenzhen Squirrel Enlivened Media Group Co., Ltd under a Business Combination Agreement dated September 16, 2024, concerning a merger with Squirrel Enlivened Technology Co., Ltd and its subsidiaries. The Company issued an unsecured promissory note of the same amount to Shenzhen Squirrel for this transaction, which bears no interest and is due upon the earlier of the completion of the business combination or the company's expiration. The document also contains forward-looking statements and discusses various risks related to the business combination, as well as future filings with the SEC regarding the proposed transaction.

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