Horizon Space Acquisition and ArcheNova Biotech announce merger
- Horizon Space Acquisition (HSPOF) and ArcheNova Biotech said on Tuesday that they have entered into a definitive business combination agreement to form ArcheNova Technology, which will be listed on the Nasdaq.
- The new company will be led by Dr. Lim Sai Kiang, the CEO and chief scientist, and Liu Ye will serve as the CFO.
- As part of the merger agreement, ArcheNova International will first merge with Horizon Space Acquisition, followed by the merger of the merged entity with ArcheNova Global.
- On completion of the two transactions, Horizon Space Acquisition's shareholders and the merged company's shareholders will receive ordinary shares of ArcheNova Technology as consideration, the companies said.
- Horizon Space Acquisition warrants will be assumed by ArcheNova Technology and converted into warrants to purchase its ordinary shares on substantially the same terms and conditions, the companies added.
- The transactions are expected to close in the first quarter of 2027.
- Source: Press Release
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