Horizon Space Acquisition I 2025 10-K: Net Income $0.204M, Trust Income $0.780M
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Horizon Space Acquisition I reported a net income of $0.204 million for 2025, primarily from interest and dividend income of $0.780 million from its trust account, down from $3.172 million in 2024. As a SPAC, it has no operating revenues and relies on trust assets for operations. The company terminated a planned business combination and voluntarily delisted from Nasdaq to trade on the OTC market. Shareholders approved multiple deadline extensions, and the IPO proceeds of approximately $70.2 million are held in trust for future acquisitions.
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