Horizon Space Acquisition I Corp (OTC: HSPOF) is a blank check special purpose acquisition company incorporated on June 14, 2022 as a Cayman Islands exempted corporation, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company has generated no operating revenues since inception; its only income has been interest and dividend income earned on cash held in a Trust Account following its IPO. For the year ended December 31, 2025, the company reported net income of $203,618, consisting of $779,992 in Trust Account interest and dividend income offset by $576,374 in operating costs. For the year ended December 31, 2024, net income was $2,112,351, consisting of $3,171,545 in Trust income offset by $1,059,194 in operating costs. As of December 31, 2025, the company carried a working capital deficit, and its auditor issued a going concern qualification tied to the requirement to complete a business combination on or before April 27, 2026. Mingyu (Michael) Li serves as CEO, CFO, and Chairman, and the sponsor entity owned approximately 87.04% of issued and outstanding shares as of the 10-K filing date of April 15, 2026.

Revenue model

No operating revenue. Income is limited to interest and dividend income on investments held in a Trust Account. Operating costs are funded through sponsor promissory notes and extension promissory notes.

Products and services

No products or services. The company's sole activity is identifying and completing an initial business combination with one or more target businesses.

Customers and end markets

No customers or end markets. The company has no commercial operations. Its stated focus includes consideration of China-based business combination targets, subject to U.S. regulatory constraints including CFIUS and executive order restrictions.

Value-chain role

Blank check SPAC vehicle providing a public-market acquisition structure for a target business seeking to complete a business combination.

Geographic exposure

Incorporated in the Cayman Islands. Leadership and sponsor have non-U.S. person status. Auditor TAAD LLP is headquartered in Diamond Bar, California.

Source: SEC 10-K, filed 2026-04-15

Industry: Blank Checks