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Horizon Space Acquisition II (NASDAQ: HSPT) delays Q1 2026 10-Q; $34.2M redemption

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

Rhea-AI Filing Summary

Horizon Space Acquisition II Corp. notified the SEC it will file its quarterly report on Form 10-Q late for the period ended March 31, 2026 under Rule 12b-25. The company expects a significant change in its results for the quarter due to extension-fee deposits totaling $790,000 and a shareholder redemption payment of $34,221,276 related to 3,219,311 ordinary shares redeemed on March 17, 2026. The registrant states it intends to file the Form 10-Q no later than the fifth calendar day following the prescribed due date.

Positive

  • None.

Negative

  • None.

Insights

Late 10-Q driven by large redemption and extension-fee payments; timing limited to Rule 12b-25 relief.

The filing states deposits of $690,000, $50,000, and $50,000 into the trust account and a redemption payment of $34,221,276 for 3,219,311 ordinary shares on March 17, 2026. These items are cited as the primary causes for a material quarter-over-quarter change in operating results.

Cash-flow treatment and precise line-item effects are not detailed in the excerpt; subsequent quarterly disclosures will provide the full financial impact. The company invokes Rule 12b-25 relief and expects to file within the permitted five-calendar-day extension for Form 10-Qs.

Extension-fee deposits $790,000 Deposited into trust account on Nov 17, 2025, Feb 18, 2026, Mar 13, 2026
Redemption payment $34,221,276 Paid on March 17, 2026 for redeemed ordinary shares
Shares redeemed 3,219,311 shares Ordinary shares of HSPT redeemed on March 17, 2026
Form 12b-25 regulatory
"Form 12b-25 NOTIFICATION OF LATE FILING (Check One)"
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.
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.
redemption payment financial
"an aggregate of 3,219,311 ordinary shares of HSPT were redeemed for $34,221,276"

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

 

(Check One):    ☐ Form 10-K    ☐ Form 20-F    ☐ Form 11-K    ☒ Form 10-Q    ☐ Form 10-D    ☐ Form N-SAR    ☐ Form N-CSR

 

For Period Ended: March 31, 2026

 

 

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)

 

1412 Broadway

21st Floor, Suite 21V

New York, NY 10018

Address of Principal Executive Office (Street and Number)

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, 11-K or Form N-SAR, or portion thereof will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, 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 why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

(Attach Extra Sheets if Needed)

 

Horizon Space Acquisition II Corp. (the “Company”) has encountered a delay in assembling the information and finalizing the registrant’s quarterly report on Form 10-Q for the period ended March 31, 2026. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company endeavors to file its quarterly report on Form 10-Q no later than the fifth calendar day following the prescribed filing date.

 

PART IV - OTHER INFORMATION

 

(1)

Name and telephone number of person to contact to this notification

 

Mingyu (Michael) Li, Chief Executive Officer

 

(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 reports) been filed? If 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 three months ended March 31, 2026, as compared to the three months ended March 31, 2025, primarily as a result of the payments of the extension fee and the redemption payment.

 

On or about November 17, 2025, February 18, 2026 and March 13, 2026, $690,000, $50,000, and $50,000 were respectively deposited into the trust account for the Company’s public shareholders, which enabled the Company to extend the period of time it has to consummate its initial business combination.

 

Additionally, in connection with the Company’s extraordinary general meeting held on February 13, 2026 where the shareholders approved the Company’s Amended and Restated Memorandum and Articles of Association to extend the period of time it has to consummate its initial business combination, an aggregate of 3,219,311 ordinary shares of HSPT were redeemed for $34,221,276 on March 17, 2026.

 

As a result of the payment of the extension fee and the redemption payment, the Company expects significant change in the results of the operation for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025.

 

 
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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: May 15, 2026

By:

/s/ Mingyu (Michael) Li

 

 

Name: 

Mingyu (Michael) Li

 

 

Title:

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)

 

 
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FAQ

Why did HSPT file a Form 12b-25 notifying a late 10-Q?

HSPT stated delays assembling and finalizing its Form 10-Q for the period ended March 31, 2026. The company invoked Rule 12b-25 and expects to file the Form 10-Q within the five-calendar-day extension allowed for quarterly reports.

What payments does the HSPT notice say affected Q1 2026 results?

The notice cites extension-fee deposits of $690,000, $50,000, and $50,000 into the trust account, plus a shareholder redemption payment of $34,221,276 relating to 3,219,311 ordinary shares redeemed on March 17, 2026.

When does HSPT expect to file the delayed Form 10-Q?

HSPT states it will file the quarterly report on Form 10-Q no later than the fifth calendar day following the prescribed filing date, consistent with the extension period allowed under Rule 12b-25 for quarterly reports.

Will the redemption and extension fees materially change HSPT's quarter-over-quarter results?

The company expressly anticipates a significant change in results for the three months ended March 31, 2026 versus the prior-year quarter, attributing the change primarily to the extension-fee deposits and the $34,221,276 redemption payment.