Horizon Space Acquisition II Corp. Announces $60 Million IPO Pricing
Deal News | Nov 15, 2024 | EIN
Horizon Space Acquisition II Corp., a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, has announced the pricing of its initial public offering (IPO) for 6,000,000 units at $10.00 per unit, raising $60 million. Each unit comprises one ordinary share and one right, with the right granting holders one-tenth of a share upon consummation of an initial business combination. These units are slated to begin trading on the Nasdaq Global Market under the symbol 'HSPTU' on November 15, 2024. Maxim Group LLC serves as the sole book-running manager for the offering, with the offering's closure expected on November 18, 2024. The company has also granted an option to the underwriter for purchasing an additional 900,000 units. The IPO is hinged on completing necessary closing conditions, and the company aims to undertake a business combination across various sectors and geographies with potential focus on China due in part to its significant ties there.
Sectors
- Financial Services
- Legal Services
- Investment Banking
Geography
- United States – The IPO is being launched on the Nasdaq in the U.S., and regulatory matters are overseen by the U.S. SEC.
- Cayman Islands – Horizon Space Acquisition II Corp. is incorporated in the Cayman Islands, which provides its legal framework.
- China – Though not restricted to any region, the SPAC intends to leverage its ties to China for potential business combinations.
Industry
- Financial Services – The article discusses an IPO by a SPAC, which is a financial service entity created to acquire or merge with another company.
- Legal Services – Relevant due to the legal structuring of the IPO, the creation of a SPAC, and its regulatory filing with the SEC.
- Investment Banking – Maxim Group LLC acts as the sole book-running manager for the IPO, aligning with investment banking activities.
Financials
- $60,000,000 – The total amount to be raised from the IPO by selling 6,000,000 units at $10 each.
- 6,000,000 units at $10 each, with an option for 900,000 additional units – Details of the IPO offering and the option granted to underwriters for over-allotment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Horizon Space Acquisition II Corp. | Target | Company | A Cayman Islands-based SPAC intending to use IPO proceeds to pursue business combinations. |
| Maxim Group LLC | Book-running Manager | Company | An investment bank managing the IPO. |
| U.S. Securities and Exchange Commission (SEC) | Regulator | Government | The U.S. regulator responsible for IPO approval via the registration statement. |