Announcement • Jun 13
SL Bio Ltd. completed the acquisition of Horizon Space Acquisition II Corp. (NasdaqGM:HSPT) from Horizon Space Acquisition II Sponsor Corp. and others in a reverse merger transaction.
SL Bio Ltd. entered into non-binding letter of intent to acquire Horizon Space Acquisition II Corp. (NasdaqGM:HSPT) from Horizon Space Acquisition II Sponsor Corp. and others in a reverse merger transaction on December 26, 2024. SL Bio Ltd. entered into a definitive business combination agreement to acquire Horizon Space Acquisition II Corp from Horizon Space Acquisition II Sponsor Corp. and others for $5.7 billion in a reverse merger transaction on May 9, 2025. Upon completion of the transaction, SL Bio will be listed on The Nasdaq Stock Market LLC.
Upon completion of the Proposed Transactions, resulting company will be led by Chief Executive Officer and Chairman, William Wang. Johnson Lau will serve as Chief Financial Officer and Dr. Ethan Shen will serve as Chief Technology Officer.
The transaction is subject to regulatory approvals, HSPT shareholders approval, SL Bio shareholder approval, the Proxy/Registration Statement shall have become effective, Shares to be issued in connection with the Transaction shall have been approved for listing on Nasdaq, and all third-party consents necessary to consummate the Transactions shall have been obtained. The Proposed Transaction has been unanimously approved by the boards of directors of both SL Bio and HSPT. The Proposed Transaction is expected to close by late 2025. On November 17, 2025, an aggregate of $690,000 of the Extension Fee was deposited into the Trust Account for the Horizon Space Acquisition’s public shareholders, which enables the Company to extend the period of time it has to consummate its initial business combination by three months from November 18, 2025 to February 18, 2026. As on January 13, 2026, registration statement was declared effective by the U.S. Securities and Exchange Commission and HSPT will hold an extraordinary general meeting of shareholders on February 3, 2026 to approve the transaction. As of February 6, 2026, HSPT will hold an extraordinary general meeting of shareholders on February 12, 2026 to approve the transaction. On February 12, 2026, Horizon Shareholders approved the business combination. As of February 18, 2026, SL Bio has deposited $50,000 Extension Fee was deposited into the Trust Account. The transaction has been extended to March 18, 2026. As of March 13, 2026, an aggregate of $50,000 of the Extension Fee was deposited into Horizon’s trust account by Mr. William Wang, thereby extending the deadline for Horizon to consummate its initial business combination from March 18, 2026 to April 18, 2026.
Ralph V. De Martino of ArentFox Schiff LLP is acting as legal counsel to SL Bio. Arila Zhou and Jacqueline Pennino Scheib of Robinson & Cole LLP is acting as legal counsel to HSPT. Advantage Proxy, Inc acted as proxy solicitor to HSPT and will receive a fee of $0.0125 million. Vstock Transfer, LLC and Continental Stock Transfer & Trust Company acted as transfer agent to HSPT. King Kee Appraisal and Advisory Limited acted as fairness opinion provider to HSPT and will receive a fee of $0.1 million.
SL Bio Ltd. completed the acquisition of Horizon Space Acquisition II Corp. (NasdaqGM:HSPT) from Horizon Space Acquisition II Sponsor Corp. and others in a reverse merger transaction on June, 12, 2026. The ordinary shares of SL Science are expected to commence trading on the Nasdaq Global Market under the new ticker symbol SLBT. Ogier acted as legal advisors to SL Bio. Maples Group acted as legal advisor to Horizon Space.
