Horizon Space Acquisition I agrees to merge with ArcheNova Biotech in deal targeting Nasdaq listing
HSPO•Horizon Space Acquisition I agreed to merge with clinical-stage biopharma ArcheNova Biotech, with a new parent expected to list on Nasdaq after closing. The companies are targeting completion in the first quarter of 2027, subject to shareholder and regulatory approvals and other customary conditions.
1. Proposed combination
Horizon Space Acquisition I Corp. entered a definitive business combination agreement with ArcheNova Biotech. The transaction would create a Cayman Islands parent, ArcheNova Technology, with Horizon Space Acquisition I and ArcheNova as wholly owned subsidiaries.
2. Share consideration and timing
Consideration would be paid in ordinary shares of the new parent to shareholders of both companies, and Horizon Space Acquisition I warrants would convert into parent warrants. Closing is targeted for the first quarter of 2027, subject to shareholder and regulatory approvals and other customary conditions.
