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Horizon Space Acquisition I Unit (HSPOU) shares have reached an all-time high, touching $12.27 in a recent trading session. With a market capitalization of $92 million, InvestingPro analysis suggests the stock is trading above its Fair Value, while maintaining a GOOD financial health score of 2.8. This milestone reflects a significant vote of confidence from the investment community, as the company has seen an impressive 1-year change of 11.52%. The surge to record levels underscores the market’s bullish outlook on HSPOU’s potential, as investors rally behind the company’s strategic moves and growth prospects. Trading at a P/E ratio of 40.18, InvestingPro data reveals the stock is trading at a high earnings multiple, with several additional insights available to subscribers. The all-time high represents a notable achievement for HSPOU, marking a period of robust performance and heightened investor interest.
In other recent news, Horizon Space Acquisition I Corp. has announced a series of significant developments. The company has extended its merger deadline with Shenzhen Squirrel Enlivened Media Group Co. Ltd, facilitated by a series of $60,000 deposits into the trust account. This extension provides Horizon Space with additional time to satisfy closing conditions and finalize the merger plans.
In addition, Horizon Space issued an unsecured promissory note to Shenzhen Squirrel for the same amount. The note does not bear interest and has a maturity date that coincides with the earlier of the business combination’s consummation or the company’s expiry date.
Furthermore, the company has announced an amendment to its Trust Agreement and Charter, allowing an extension of the deadline to liquidate its trust account by up to twelve months, until December 27, 2025.
Horizon Space also issued an unsecured promissory note of $400,000 to its sponsor, Horizon Space Acquisition I Sponsor Corp., to support its operations until the completion of the initial business combination.
Lastly, in response to potential delisting from the Nasdaq Global Market due to non-compliance with the minimum shareholder requirement, the company has applied to transfer its listing to the Nasdaq Capital Market, which has less stringent requirements. These are the recent developments concerning Horizon Space Acquisition I Corp.
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