SCHEDULE: SL Science Holding Ltd: Ownership Update Post-Merger

SL Science Holding Ltd. reports on beneficial ownership following a business combination, with Ching-Dong Wang and SL Link Holding Ltd. holding a combined 59.53% stake.

Summary

• This filing is an amendment to a Schedule 13D for SL Science Holding Ltd. (the "Issuer"), reporting on the beneficial ownership of ordinary shares by Ching-Dong Wang and SL Link Holding Ltd.
• Following a business combination completed on June 12, 2026, between SL BIO Ltd. and Horizon Space Acquisition Corp. (HSPT), Ching-Dong Wang beneficially owns 333,832,129 ordinary shares, representing 59.53% of the issued and outstanding shares.
• SL Link Holding Ltd. holds 329,286,823 ordinary shares, and Ching-Dong Wang directly holds 4,545,306 ordinary shares.
• On September 29, 2026, SL Link Co., Ltd. transferred 4,545,306 ordinary shares to Ching-Dong Wang for US$2,272,653.
• The reporting persons have no current plans for further acquisitions or dispositions of securities, nor do they plan any extraordinary corporate transactions, asset sales, or changes to the Issuer's board or management.
• The total number of outstanding ordinary shares considered for this filing is approximately 560,759,740, excluding certain convertible preferred shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as moderately positive, primarily due to the confirmation of a significant ownership stake post-business combination and the clear reporting of beneficial ownership. The lack of immediate plans for further transactions or changes suggests a period of stability.

Positives

• Confirmation of significant beneficial ownership (59.53%) by Ching-Dong Wang and SL Link Holding Ltd. post-business combination.
• Clear reporting of shareholdings and beneficial ownership structure.
• The business combination was successfully completed on June 12, 2026.
• The reporting persons explicitly state no current plans for actions that would significantly alter the company's structure or control, indicating a stable immediate outlook.

Negatives

• The filing does not detail the financial performance or operational results of SL Science Holding Ltd., focusing solely on ownership.
• A significant portion of shares (4,545,306) were transferred from SL Link Co., Ltd. to Ching-Dong Wang, though this did not change the aggregate beneficial ownership.

Risks

• Potential for future changes in ownership or strategic direction, as the reporting persons reserve the right to formulate other plans at any time.
• The percentage of ownership is based on outstanding shares excluding certain convertible preferred shares, which could change the effective ownership percentage if converted.

Future Outlook

The reporting persons state they have no current plans or proposals that would result in significant changes to the Issuer's business, corporate structure, or control. However, they reserve the right to formulate other plans or proposals at any time.

Management Comments

• "Depending on prevailing market, economic and other conditions, the Reporting Persons may from time to time acquire additional Ordinary Shares or engage in discussions with the Issuer concerning future acquisitions of its shares."
• "Except as set forth in this Item 4, the Reporting Persons have no plans or proposals that relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any change in the present board of directors of the Issuer (the "Board") or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g) changes in the Issuer's charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (j) any action similar to any of those enumerated above."
• "The Reporting Persons may, at any time and from time to time, formulate other purposes, plans or proposals regarding the Issuer, or any other actions that could involve one or more of the types of transactions or have one or more of the results described in clauses (a) through (j) of this Item 4."

Industry Context

StockSavvy.ai notes that this filing is typical for significant shareholders following a business combination or SPAC merger, aiming to comply with disclosure requirements regarding control and beneficial ownership. The focus on ownership percentages and lack of operational details is common for Schedule 13D filings of this nature.

Related Party Transactions

• On September 29, 2026, SL Link Co., Ltd. sold and transferred 4,545,306 Ordinary Shares to Ching-Dong Wang for an aggregate purchase price of US$2,272,653.

Stakeholder Impact

• Shareholders: The filing confirms a stable majority ownership by Ching-Dong Wang and SL Link Holding Ltd., which may provide a sense of continuity.
• Management: The explicit statement that there are no current plans to change the board or management suggests stability in leadership.
• Creditors/Suppliers: No direct impact indicated, as the filing focuses on ownership rather than operational or financial performance.

Next Steps

• The reporting persons may acquire additional shares or engage in discussions regarding future acquisitions.
• The reporting persons may formulate new plans or proposals regarding the Issuer.

Key Dates

Keywords

Schedule 13D, Beneficial Ownership, Business Combination, Shareholder, SL Science Holding Ltd, SL Link Holding Ltd, Ching-Dong Wang, Merger