Horizon Space Acquisition II Corp. (HSPT) has filed an 8-K report detailing its recent entry into subscription agreements for a private investment in public equity (PIPE) financing. The company has secured commitments from certain investors to purchase an aggregate of 780,000 units of PubCo at a price of $10.00 per unit, which is expected to generate gross proceeds of approximately $7.8 million. Each unit consists of one ordinary share and one series A preferred share, convertible into one-third of an ordinary share six months after the closing of the business combination. This financing is part of the company's strategy to support its upcoming business combination with SL Science Holding Limited and its subsidiaries. The PIPE financing is anticipated to close concurrently with the business combination, which will see HSPT and SL Bio become subsidiaries of PubCo. The company has also agreed to file a resale registration statement with the SEC to register the shares acquired by the PIPE investors. This move is seen as a positive step towards enhancing liquidity and supporting the company's operational execution post-merger.

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