NEW YORK, NY / ACCESSWIRE / December 27, 2022 / Horizon Space Acquisition I Corp. (the "Company"), a newly organized blank check company incorporated as a Cayman Islands exempted company and led by Chairman and CEO Mingyu (Michael) Li, today announced the closing of its initial public offering of 6,900,000 units (which includes full exercise of the underwriters' over-allotment option) at an offering price of $10.00 per unit for aggregate gross proceeds to the Company of $69,000,000. Each unit consists of one ordinary share, one full redeemable warrant, and one right to receive one-tenth (1/10) of one ordinary share upon the completion of the Company's initial business combination. Each whole warrant will entitle the holder thereof to purchase one ordinary share at $11.50 per share. The units began trading on the Nasdaq Global Market ("NASDAQ") under the ticker symbol "HSPOU" on December 22, 2022. Once the securities comprising the units begin separate trading, the ordinary shares, the warrants and the rights are expected to be traded on the NASDAQ under the symbols "HSPO", "HSPOW" and "HSPOR", respectively.
Network 1 Financial Securities, Inc. acted as sole book-running manager for the offering. Maxim Group LLC acted as an underwriter and financial advisor in connection with the offering. Robinson & Cole LLP served as the U.S. securities counsel to the Company and Maples and Calder (Hong Kong) LLP served as the Cayman Islands counsel to the Company. Sichenzia Ross Ference LLP acted as the counsel to Network 1 Financial Securities, Inc.
A registration statement on Form S-1 (File No.: 333-268578) relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on December 21, 2022. The offering is being made only by means of a prospectus forming a part of the effective registration statement. When available, copies of the prospectus relating to this offering may be obtained by contacting Network 1 Financial Securities, Inc., 2 Bridge Avenue Suite241, Red Bank, NJ 07701, Attention Karen Mu, email [email protected] or by calling +1(800)886-7007 or by accessing the SEC's website, www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Horizon Space Acquisition I Corp.
Horizon Space Acquisition I Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.
This press release contains statements that constitute "forward-looking statements", including with respect to the Company's initial public offering ("IPO"), the anticipated use of the net proceeds thereof and the Company's search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Horizon Space Acquisition I Corp., including those set forth in the Risk Factors section of Horizon Space Acquisition I Corp.'s registration statement and prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Horizon Space Acquisition I Corp. undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Chief Executive Officer
Horizon Space Acquisition I Corp.
SOURCE: Horizon Space Acquisition I Corp.