Horizon Space Acquisition I Corp. Reports $90,586 Net Loss for Quarter Ending June 30, 2026

Horizon Space Acquisition I Corp. has reported its financial results for the quarter ending June 30, 2026, revealing a net loss of $90,586, a significant decline from a net income of $75,887 during the same period in 2025. The company’s operating costs for the quarter were $98,060, down from $153,989 in the prior year, while interest and dividend income from investments held in the Trust Account fell to $7,474 from $229,876. For the first half of 2026, the company recorded a net loss of $214,150 compared to a net income of $147,341 in the first half of 2025, reflecting a continued trend of financial losses since its inception.

The company’s total assets decreased to $964,521 as of June 30, 2026, down from $1,230,570 at the end of 2025. This decline was primarily driven by a reduction in investments held in the Trust Account, which fell to $753,670 from $1,179,991. Current liabilities increased to $4,073,228, compared to $3,680,957 at the end of the previous fiscal year, largely due to an increase in working capital loans from related parties, which rose to $1,759,003 from $1,314,003.

In terms of operational developments, Horizon Space Acquisition I Corp. has not yet completed any business combinations since its inception. The company has extended its deadline to consummate a business combination to June 12, 2027, following shareholder approval at an extraordinary general meeting held on April 20, 2026. During this meeting, shareholders also approved the commencement of liquidation of the Trust Account if a business combination is not completed by the new deadline. As of June 30, 2026, the company had 2,369,416 ordinary shares issued and outstanding, with 58,666 shares subject to possible redemption.

The company continues to face challenges in securing a business combination, as indicated by its ongoing financial losses and the substantial doubt raised about its ability to continue as a going concern. Management has acknowledged that the current cash balance of $204,176 is insufficient to cover planned activities for the upcoming year, and the company may need to rely on loans from its sponsor or other affiliates to fund operations. The outlook remains uncertain, with no assurance that the company will successfully complete a business combination within the extended timeframe.