SL BIO and Horizon Space SPAC Merger Closes; New Entity SL Science to Trade as SLBT on Nasdaq
Summary
Horizon Space Acquisition II Corp. (HSPT) has successfully closed its business combination with SL BIO Ltd., forming SL Science Holding Limited. The new entity, focused on cellular and gene therapies, is expected to begin trading on the Nasdaq Global Market under the ticker 'SLBT' on June 15, 2026. This closing follows earlier announcements of a $7.8 million PIPE financing and resolves previous concerns regarding HSPT's trust account redemptions and a 'going concern' warning. The transaction implies an equity valuation of SL Bio at approximately $5.568 billion, providing capital to advance its preclinical and clinical development programs for 'off-the-shelf' cellular therapies.
At the time of this announcement, HSPT was trading at $5.03 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $64.6M. The 52-week trading range was $3.59 to $14.31. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.