Thu, Dec 26, 7:32 PM (46 days ago)
Horizon Space Acquisition II Corp. (HSPT) reported its quarterly financial results for the period ending September 30, 2024, highlighting a net loss of $33,604 for Q3 and $44,710 year-to-date, primarily attributed to formation and operational costs. The company, which has not yet commenced operations, has a working capital deficit of $175,658. As of September 30, 2024, total assets were $192,893, largely consisting of prepaid expenses and deferred offering costs. The firm successfully completed its IPO on November 18, 2024, raising $60,000,000 from the sale of 6,000,000 units, with an additional $9,000,000 from an over-allotment option exercised on November 21, 2024. These funds are held in a Trust Account for future business combinations. Horizon Space Acquisition II is classified as a smaller reporting company and is currently evaluating potential business targets, particularly in China. The management has expressed concerns regarding its ability to continue as a going concern if a business combination is not completed by November 2025. Future operations depend heavily on successful capital raising and business acquisition efforts.