Horizon Space Acquisition I Corp. Announces Revised Contribution to Trust Account in Connection with the Proposed Charter Amendment
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NEW YORK, NY / ACCESSWIRE / March 18, 2024 / Horizon Space Acquisition I Corp. (the "Company") (NASDAQ:HSPO) today announced that, in connection with its previously announced extraordinary general meeting of shareholders to be held on March 22, 2024 (the "Meeting"), the required contribution to the trust account of the Company (the "Trust Account") for each its newly proposed monthly extension is revised to the lesser of (i) $60,000 for all remaining public shares and (ii) $0.035 for each remaining public share (the "New Extension Fee").
The Meeting is to be held for the purpose of considering and voting on, among other proposals, a proposal to amend the Company's current charter (the "MAA Amendment Proposal") to provide that the Company has until March 27, 2024 to complete a business combination and may elect to extend up to nine times, each by a one-month extension ("New Monthly Extension"), for a total up to nine months to December 27, 2024 (such extension, the "Extension").
The Company announced that, if the MAA Amendment Proposal is approved at the Meeting, for the New Monthly Extension, a deposit of the lesser of (i) $60,000 for all remaining public shares, and (ii) $0.035 for each remaining public share (as compared to the original amount of the lesser of (i) $45,000 for all remaining public shares, and (ii) $0.033 for each remaining public share), shall be made to the Trust Account.
The record date for determining the Company shareholders entitled to receive notice of and to vote at the Meeting remains the close of business on February 9, 2024 (the "Record Date"). Shareholders as of the Record Date can vote, even if they have subsequently sold their shares. Shareholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not take any action. Shareholders who have not yet done so are encouraged to vote as soon as possible.
If any such shareholders have questions or need assistance in connection with the Meeting, please contact the Company's proxy solicitor, Advantage Proxy Inc., by calling (877) 870-8565.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as "believes," "expects," "intends," "plans," "estimates," "assumes," "may," "should," "will," "seeks," or other similar expressions. Such statements may include, but are not limited to, statements regarding the date of the Meeting and the proposed New Extension Fee. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
