Sponsor and CEO Exit SPAC Ownership Post-Merger
Summary
The sponsor and CEO of Horizon Space Acquisition II Corp. have filed an exit Schedule 13D/A, reporting zero beneficial ownership of the company's ordinary shares following the successful business combination with SL BIO Ltd. on June 12, 2026.
Key Events
-
Sponsor and CEO Convert Shares
Horizon Space Acquisition II Sponsor Corp. and Mingyu Li (CEO) converted their beneficial ownership of Horizon Space Acquisition II Corp. ordinary shares into shares of the newly formed public entity, SL Science Holding Limited (PubCo).
-
Formal Exit from SPAC Ownership
This Schedule 13D/A serves as a final amendment, reporting zero beneficial ownership in the original SPAC, Horizon Space Acquisition II Corp., as a direct result of the business combination that closed on June 12, 2026.
Analysis
This filing formalizes the change in ownership structure for Horizon Space Acquisition II Corp. following its successful business combination with SL BIO Ltd. The sponsor and CEO, Mingyu Li, no longer hold beneficial ownership in the original SPAC entity, as their shares were converted into the new combined entity, SL Science Holding Limited (PubCo). This is a significant, albeit expected, update on the post-merger ownership for key stakeholders, marking the formal transition of their investment from the SPAC to the operating company.
At the time of this filing, HSPT was trading at $4.76 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $34M. The 52-week trading range was $3.00 to $14.50. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.