SPAC Horizon Space to Merge with ArcheNova Biotech, Listing on Nasdaq
HSPOF is trading near its 52-week low of $11.03 (8.7% above the low).
Summary
Horizon Space Acquisition I Corp. (HSPO) has entered into a definitive business combination agreement with ArcheNova Biotech Corp., a clinical-stage biopharmaceutical company developing MSC-derived exosome therapeutics. The combined company will be listed on Nasdaq, with closing expected in Q1 2027. ArcheNova's lead topical psoriasis program has completed a Phase I trial and is preparing for Phase II. This is a significant de-SPAC transaction for a micro-cap SPAC, providing ArcheNova with public market access and growth capital. The deal is subject to regulatory and shareholder approvals.
At the time of this announcement, HSPOF was trading at $11.99 on OTC in the Life Sciences sector, with a market capitalization of approximately $23.7M. The 52-week trading range was $11.03 to $29.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: ACCESS Newswire.