Fri, May 16, 7:30 PM (31 days ago)
**Horizon Space Acquisition II Corp. (HSPT) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** No operating revenue generated; non-operating income from investments held in trust. - **Profit Margins:** Q1 2025 net income of $472,592, primarily from interest income on investments, offset by formation and operating costs of $253,479. - **Cash Flow:** Net cash provided by operating activities was negative $281,944 due to the net loss and changes in operating assets and liabilities. - **Earnings Changes:** Q1 2024 had a net loss of $3,106. **Key Metrics & Trends:** - **Cash Position:** $364,776 in cash as of March 31, 2025, down from $646,720 at the end of 2024. - **Trust Account:** $70,070,601 held in trust, with $726,071 in interest income for Q1 2025. - **Shareholder Equity:** $197,396 in shareholders' equity as of March 31, 2025. - **Going Concern:** Management expresses substantial doubt about the company's ability to continue as a going concern due to significant professional and transaction costs. **Future Operations & Uncertainties:** - **Business Combination:** On May 9, 2025, entered into a business combination agreement with SL Bio Ltd. - **Liquidity:** Plans to use funds from the trust account and potential working capital loans to support operations and the business combination. - **Risks:** Geopolitical conflicts and market volatility may impact the ability to consummate a business combination or raise financing. - **Future Outlook:** Dependent on completing a business combination within the specified timeframe to avoid liquidation and dissolution.