Horizon Space Acquisition I in an 8=K said it has entered into a non-bidning letter of agreement with Shenzhen Squirrel Enlivened Media for a potential merger.
The target loaned Horizon Space I $70,000 last week to cover a one-month extension on the SPAC’s deadline. The promissory note for the loan may be converted into the SPAC’s units at $10 each.
The regulatory filing contains no other details about a potential deal.
The SPAC raised $60 million in a December 2022 IPO. Horizon Space I is focused on emerging growth companies. Horizon has said it will consider potential target companies worldwide, including China. Read more.
