STOCK TITAN

Horizon Space (NASDAQ: HSPT) discloses $690K extension fee, delays 10-K

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
NT 10-K

Rhea-AI Filing Summary

Horizon Space Acquisition II Corp. notified the SEC it will file its Annual Report on Form 10-K late. The company says additional time is needed to assemble information and expects to file within the 15-calendar-day grace period. It also discloses a $690,000 Extension Fee deposited on or about November 17, 2025 that extended the deadline to February 18, 2026, and states this payment will produce a significant change in results for the fiscal year ended December 31, 2025 versus the prior year. The notification is signed by CEO Mingyu (Michael) Li.

Positive

  • None.

Negative

  • None.

Insights

Late 10-K filing tied to material transaction affecting fiscal results.

The company cites internal work needed to finalize the Form 10-K and invokes Rule 12b-25 relief, committing to file within the 15-day extension window. The filing explicitly links a $690,000 Extension Fee deposit on November 17, 2025 to a materially different result for fiscal year 2025.

Financial impact depends on how the Extension Fee is recorded (expense versus trust mechanics); subsequent filings will show line-item treatment and the precise earnings effect for FY 2025.

Sponsor-funded extension disclosed; governance and timing clarified.

The Sponsor or its designee deposited the Extension Fee to prolong the SPAC’s life to February 18, 2026. The notice follows Form 12b-25 protocols and is signed by the CEO, indicating executive awareness and formal authorization.

Watch the forthcoming 10-K for details on related-party disclosures, accounting classification of the fee, and any sponsor/designee arrangements referenced in the notice.

Extension Fee $690,000 Deposited on or about November 17, 2025 to Trust Account
Original SPAC deadline November 18, 2025 Initial business combination deadline per amended charter
Extended SPAC deadline February 18, 2026 Three-month extension enabled by Extension Fee deposit
Fiscal period impacted December 31, 2025 Fiscal year end for which a significant change in results is anticipated
Form 12b-25 filing date March 31, 2026 Date the notice was signed by CEO Mingyu (Michael) Li
Extension Fee financial
"an aggregate of $690,000 of the Extension Fee was deposited"
Trust Account financial
"deposited into the Trust Account for the Company’s public shareholders"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
Form 12b-25 regulatory
"FORM 12b-25 NOTIFICATION OF LATE FILING"
Form 12b-25 is a notice a publicly traded company files with the U.S. Securities and Exchange Commission when it cannot deliver a required periodic report (like a quarterly or annual financial report) on time. It explains the reason for the delay and gives the company a short, temporary window to finish the report without being marked as delinquent; investors watch it because late filings can signal accounting, operational, or control issues that may affect a company’s reliability and stock risk, much like a missed homework deadline can raise concerns about a student’s preparedness.

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 12b-25

NOTIFICATION OF LATE FILING

 

(Check One):

☒ Form 10-K     ☐ Form 20-F     ☐ Form 11-K     ☐ Form 10-Q     ☐ Form N-SAR     ☐ Form N-CSR

 

 

 

For Period Ended: December 31, 2025                               

 

 

 

☐ Transition Report on Form 10-K

 

☐ Transition Report on Form 20-F

 

☐ Transition Report on Form 11-K

 

☐ Transition Report on Form 10-Q

 

☐ Transition Report on Form N-SAR

 

 

 

For the Transition Period Ended: ________________________

 

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:

 

PART I -- REGISTRANT INFORMATION

 

Horizon Space Acquisition II Corp.

Full name of registrant:

 

 

Former name if applicable:

 

1412 Broadway 21st Floor, Suite 21V

Address of principal executive office (Street and number):

 

New York, NY 10018

City, state and zip code

 

 

 

 

PART II -- RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate.)

 

 

(a)

The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

(b)

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and

 

(c)

The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

 

PART III -- NARRATIVE

 

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

Horizon Space Acquisition II Corp. (the “Company”) was unable to file its Annual Report on Form 10-K on a timely basis without incurring undue hardship and expense, because the Company requires additional time to work internally to assemble certain information to finalize the Form 10-K.

 

The Company anticipates that it will file the Form 10-K no later than the fifteenth calendar day following the prescribed filing date.

 

PART IV -- OTHER INFORMATION

 

(1)

Name and telephone number of person to contact in regard to this notification

 

 

Mingyu (Michael) Li

 

+1

 

(646)257-5537

 

(Name)

 

(Area Code)

 

(Telephone Number)

 

(2)

Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If the answer is no, identify report(s).

 

☒ Yes     ☐ No

 

 

(3)

Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

 

☒ Yes     ☐ No

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

The Company anticipates that there will be a significant change in its results of operations for the fiscal year ended December 31, 2025, as compared to the fiscal year ended December 31, 2024, primarily as a result of the payments of the extension fee.

 

Pursuant to the then effective amended and restated memorandum and articles of association of the Company, the Company had 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 by Hsiao-Lan Wu, a designee of the Sponsor, 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.

 

As a result of the payment of the Extension Fee, the Company expects significant change in the results of the operation during the fiscal year ended December 31, 2025 compared to the fiscal year ended December 31, 2024.

 

 

2

 

  

Horizon Space Acquisition II Corp.

(Name of Registrant as Specified in Charter)

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: March 31, 2026

By

/s/ Mingyu (Michael) Li

 

 

 

Mingyu (Michael) Li

 

 

 

Chief Executive Officer

 

 

INSTRUCTION. The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

 

ATTENTION

 

Intentional misstatements or omissions of fact constitute Federal criminal violations. (See 18 U.S.C. 1001).

 

 

3

  

FAQ

What did Horizon Space Acquisition II (HSPT) file in its Form 12b-25?

The company filed a Form 12b-25 notifying a late Form 10-K filing and invoked the 15-day grace period. It explains internal work is needed to finalize disclosures and commits to file within the permitted extension.

How much was the Extension Fee and who paid it for HSPT?

An aggregate $690,000 was deposited on or about November 17, 2025 by a designee of the Sponsor. This payment extended the company’s time to complete a business combination.

To what new deadline was HSPT’s SPAC life extended?

The Extension Fee enabled a three-month extension of the initial business combination deadline from November 18, 2025 to February 18, 2026, per the memorandum and articles of association.

Will the late filing affect HSPT’s reported results for fiscal 2025?

Yes. The company anticipates a significant change in results for the fiscal year ended December 31, 2025, primarily because of the Extension Fee payment that it says will affect 2025 operating results.

Who signed the Form 12b-25 for HSPT and when?

The notice was signed by Mingyu (Michael) Li, Chief Executive Officer, and dated March 31, 2026, indicating executive authorization of the late-filing notification.
Horizon Space Acquisition II Corp

NASDAQ:HSPT

View HSPT Stock Overview

HSPT Rankings

HSPT Latest News

HSPT Latest SEC Filings

HSPT Stock Data

58.57M
7.36M
Shell Companies
Blank Checks
United States
NEW YORK