Horizon Space Acquisition II shares tumble to $5.80 after SPAC merger closes
HSPT•Horizon Space Acquisition II Corp closed its SPAC business combination with SL BIO Ltd., creating SL Science Holding Ltd., which will begin trading as SLBT on Nasdaq Global Market June 15. HSPT shares plunged following the merger close, reflecting post-combination volatility.
1. SPAC Merger Completion
Horizon Space Acquisition II Corp and SL BIO Ltd. completed their business combination, resulting in both entities becoming wholly owned subsidiaries of the newly formed SL Science Holding Ltd. The combined company will begin trading under the ticker SLBT on the Nasdaq Global Market starting June 15, 2026.
2. Immediate Market Reaction
In the first session after the closing, HSPT shares fell sharply to $5.80, driven by volatility typical of post-merger SPAC conversions. Investors reacted to the transition period uncertainty and awaited further operational details from the new holding company.
3. Strategic Outlook and Growth Prospects
SL Science Holding Ltd. is expected to leverage SL BIO’s research pipeline and Horizon Space’s capital to advance biotech and space-related technologies. Management highlights potential synergies in R&D capabilities and anticipates using Nasdaq listing benefits to attract long-term institutional investors.
