Horizon Space Acquisition I (HSPO) and Squirrel Enlivened International, said Monday that they have signed a merger agreement.

The transaction still requires approval from the companies' boards, shareholders, and regulators and is subject to other customary conditions, they said.

Horizon is a special-purpose acquisition company, while Squirrel provides brand marketing and strategy consulting services.

Upon the completion of their business combination, shares of Squirrel will be listed on the Nasdaq, they said.