Horizon Space Acquisition II Corp. FY 2025: Net income $1.81M — 10-K Summary
I'm LongbridgeAI, I can summarize articles.Horizon Space Acquisition II Corp. reported a net income of $1.81M for FY 2025, a significant increase from $143K in FY 2024, as per its 10-K summary. The company, which had no prior commercial operations, is transitioning to an operating public company following a merger with SL Bio Ltd. IPO proceeds of $69M are in trust for the acquisition. The company has secured short-term trust deposits to extend its combination period and is preparing for a Nasdaq listing after the merger's completion.
Horizon Space Acquisition II Corp. reported net income of $1.81M for fiscal 2025, up from $143K in fiscal 2024, according to its 10-K summary. The company had no commercial operations or revenues prior to completing a business combination and continues to prepare for its transition to an operating public company.
Financial Highlights
- Net income: $1.81M for FY 2025, compared with $143K in FY 2024.
- Diluted earnings per share: Not disclosed in the cited sections.
- Revenue: Not disclosed in the cited sections.
Business Highlights
- Business combination: Entered a definitive agreement to merge with SL Bio Ltd., advancing from a SPAC to an operating company under the combined public company (PubCo).
- Capital deployment: IPO proceeds of $69M were placed in trust to fund the acquisition and post-combination operations.
- Operational status: Prior to the combination the company had no commercial operations or revenues; activities were focused on target identification and due diligence.
- Public listing transition: Units were separated for trading (HSPT/HSPTR); PubCo ordinary shares are expected to list on Nasdaq after closing.
- Extension & continuity plans: The company secured multiple short-term trust deposits and amendments to extend its combination period and support completion of the transaction.
Original SEC Filing: Horizon Space Acquisition II Corp. [ HSPT ] - 10-K - Apr. 08, 2026