HSPT adds $690,000 zero-interest note to push SPAC deadline

Rhea-AI Filing Summary

Horizon Space Acquisition II Corp. entered into a new unsecured promissory note for $690,000 with a sponsor designee to fund an extension of its SPAC deadline. On or about November 17, 2025, the same amount was deposited into the trust account, allowing the company to extend the time to complete its initial business combination by three months, from November 18, 2025 to February 18, 2026. The note bears no interest and is repayable at the earlier of a business combination or the company’s expiry, and the lender may instead convert the balance into private units at $10.00 per unit, each unit consisting of one ordinary share and a right to receive one-tenth of an ordinary share upon a business combination.

Insights

SPAC capital structure analyst

Horizon Space added a $690,000, zero-interest, convertible sponsor loan to secure a three-month deal deadline extension.

Horizon Space Acquisition II Corp. used a sponsor-backed funding mechanism to extend its deadline for completing an initial business combination from November 18, 2025 to February 18, 2026. A sponsor designee deposited $690,000 into the trust account, and the company issued an unsecured promissory note for the same amount, bearing no interest and due at business combination or company expiry.

The note can be converted into private units at $10.00 per unit, each unit including one ordinary share and a right to receive one-tenth of an ordinary share upon a combination. This embeds potential equity and warrant-like dilution for public holders, but the actual impact depends on whether the lender elects conversion and on the final deal structure.

The extension is the first of two possible three-month extensions under the charter, so investors can observe how the company uses the additional time to negotiate and announce a business combination before February 18, 2026, and whether the remaining extension option is exercised via a similar funding arrangement.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 18, 2025

HORIZON SPACE ACQUISITION II CORP.

(Exact name of registrant as specified in its charter)

Cayman Islands		001-42406		N/A
(State or other jurisdiction		(Commission		(IRS Employer
of incorporation)		File Number)		Identification Number)

1412 Broadway

21st Floor, Suite 21V

New York, NY 10018 

(Address of principal executive offices)

Tel: (646) 257-5537

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class		Trading Symbol		Name of each exchange on which registered
Units, consisting of one ordinary share, $0.0001 par value, and one Right to acquire one-tenth of one ordinary share		HSPTU		The Nasdaq Stock Market LLC
Ordinary shares, par value $0.0001 per share		HSPT		The Nasdaq Stock Market LLC
Rights, each whole right to acquire one-tenth of one ordinary share		HSPTR		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

The disclosures set forth under Item 2.03 are incorporated by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Pursuant to the amended and restated memorandum and articles of association (the “Charter”) of Horizon Space Acquisition II Corp., a Cayman Islands exempted company (the “Company”), the Company currently has until November 18, 2025 to complete its initial business combination. However, the Company may extend the period of time to consummate a business combination up to two times, each by an additional three-month extension, up to May 18, 2026, subject to Horizon Space Acquisition II Sponsor Corp., a Cayman Islands company, the sponsor of the Company (the “Sponsor”) and/or its designee, depositing $690,000 (the “Extension Fee”) into the trust account of the Company (the “Trust Account”).

On or about November17, 2025, an aggregate of $690,000 of the Extension Fee was deposited into the Trust Account for the Company’s public shareholders (the “Extension Payment”) by Hsiao-Lan Wu, a designee of the Sponsor (the “Payee”), which enables the Company to extend the period of time it has to consummate its initial business combination by three months from November 18, 2025 to February 18, 2026 (the “Extension”). The Extension is the first of the two Extensions permitted under the Company’s Charter.

In connection with the Extension Payment, on November 18, 2025, the Company issued an unsecured promissory note of $690,000 (the “Note”) to the Payee.

The Note bears no interest and is payable in full upon the earlier to occur of (i) the consummation of the Company’s business combination or (ii) the date of expiry of the term of the Company (the “Maturity Date”). The following shall constitute an event of default: (i) a failure to pay the principal within five business days of the Maturity Date; (ii) the commencement of a voluntary or involuntary bankruptcy action, (iii) the breach of the Company’s obligations thereunder; (iv) any cross defaults; (v) an enforcement proceedings against the Company; and (vi) any unlawfulness and invalidity in connection with the performance of the obligations thereunder, in which case the Note may be accelerated.

The Payee has the right, but not the obligation, to convert the Note, in whole or in part, respectively, into private units (the “Units”) of the Company, each consisting of one ordinary share, par value $0.0001 per share (the “Ordinary Share”), and one right to receive one-tenth (1/10) of one Ordinary Share upon the consummation of a business combination, as described in the prospectus of the Company (File No: 333-282758), by providing the Company with written notice of the intention to convert at least two business days prior to the closing of the business combination. The number of Units to be received by the Payee in connection with such conversion shall be an amount determined by dividing (x) the sum of the outstanding principal amount payable to the Payee by (y) $10.00.

The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description of the Note does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Note.

 Item 3.02 Unregistered Sales of Equity Securities.

The information disclosed under Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02 to the extent required herein. The Units (and the underlying securities) issuable upon conversion of the Note, if any, (1) may not, subject to certain limited exceptions, be transferable or salable by the Payee until the completion of the Company’s initial business combination and (2) are entitled to registration rights.

Item 9.01 Financial Statements and Exhibits. 

Exhibit No.		Description
10.1		Promissory Note, dated November 18, 2025, issued by the Company to Hsiao-Lan Wu
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Horizon Space Acquisition II Corp.
	By:	/s/ Mingyu (Michael) Li
	Name:	Mingyu (Michael) Li
	Title:	Chief Executive Officer

Date: November 19, 2025

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FAQ

What did Horizon Space Acquisition II Corp. disclose in this 8-K?

The company disclosed a new unsecured promissory note for $690,000 from a sponsor designee, used to fund an extension of the deadline to complete its initial business combination.

How long did HSPT extend its SPAC business combination deadline?

Horizon Space extended the deadline to complete its initial business combination by three months, from November 18, 2025 to February 18, 2026.

What are the key terms of Horizon Space’s $690,000 promissory note?

The note is unsecured, bears no interest, and is payable at the earlier of the completion of a business combination or the company’s expiry, with defined events of default that can accelerate repayment.

Can the $690,000 note to Horizon Space be converted into equity?

Yes. The payee may convert the outstanding principal into private units at $10.00 per unit, each unit consisting of one ordinary share and a right to receive one-tenth of an ordinary share upon a business combination.

How many SPAC deadline extensions are allowed under Horizon Space’s charter?

The charter permits up to two three-month extensions, to as late as May 18, 2026, subject to sponsor funding. The current extension to February 18, 2026 is the first.

Are the securities issuable upon conversion of the note registered with the SEC?

The units and underlying securities issuable upon conversion of the note were issued as an unregistered offering relying on Section 4(a)(2) of the Securities Act and are entitled to registration rights.

When can the payee of Horizon Space’s note sell converted units?

The units and underlying securities issuable upon conversion may not, subject to certain limited exceptions, be transferable or salable by the payee until the completion of the company’s initial business combination.