Horizon Space Acquisition I today announced that if shareholders approve a deadline extension up to Dec. 27, the SPAC will raise the monthly deposit into trust. The new proposal calls for the lesser of $60,000 or 3.5 cents a share to be deposited for each month under the extension. The initial proxy filing called for a monthly deposit in the lesser of $45,000 or 3.3 cents a share.
A meeting to vote on the matter is set for March 22.
Horizon Space I in October said it entered into a non-binding letter of agreement with Shenzhen Squirrel Enlivened Media for a potential merger.
The target loaned Horizon Space I $70,000 last October to cover a one-month extension on the SPAC’s deadline.
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.
