Maples Group Advises Horizon Space on US$5.7 Billion SPAC and NASDAQ Listing
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- in Deals
Maples and Calder, the Maples Group’s law firm, has acted as Cayman Islands counsel to Horizon Space Acquisition II Corp. (NASDAQ: HSPT) (“Horizon Space”), a publicly traded special purpose acquisition company (“SPAC”), on its business combination with SL Bio.
The transaction completed on 12 June 2026 at an implied equity valuation of US$5.7 billion. Following completion, the combined company now operates as SL Science Holding Limited and commenced trading on NASDAQ under the ticker SLBT on 15 June 2026.
SL Bio is a Taiwan-headquartered biomedical company specialising in the development of innovative cellular and gene therapies.
The Maples team was led by Corporate Partner Juno Huang, with assistance from Legal Manager Clare Tsang, both based in Hong Kong.
Commenting on the transaction, Juno said “The successful completion of the Horizon Space–SL Bio business combination underscores the continued relevance of the SPAC structure for Asia‑headquartered companies looking to access the U.S. public markets. This transaction demonstrates how SPACs can be effectively deployed in today’s more disciplined market environment for innovative businesses from the region.”
The Maples Group has advised on the region’s first SPACs and de-SPAC transactions in Hong Kong and Singapore, including:
- Aquila’s Hong Kong inaugural SPAC listing and it was named “Deal of the Year” by China Business Law Journal in 2022
- Vertex Technology Acquisition Corp. (“Vertex”)’s Singapore inaugural SPAC listing
- Vertex’s business combination with 17LIVE Inc which is awarded “M&A Deal of the Year” at the Asian Legal Business SE Asia Law Awards 2024
- Hong Kong’s first de-SPAC transaction between Hong Kong Acquisition Corporation and Synagistics Pte. Ltd.
The Maples Group was also named in the inaugural Panel List of Hong Kong Legal Services Providers Supporting “Go Global”, published by the Hong Kong Department of Justice, recognising its track record in supporting the overseas expansion of Chinese and Asia-based companies.
