Horizon Space Acquisition I Corp.

The revision flips the disclosed economic incentive for public shareholders from a redemption discount to a redemption premium relative to the secondary market, directly affecting redemption election timing and proxy voting behavior ahead of the April 20, 2026 meeting. The filing confirms the SPAC’s ongoing pursuit of the June 12, 2027 extension deadline while attributing the initial valuation discrepancy to an arithmetic miscalculation by Company management. Chief Executive Officer Mingyu (Michael) Li signed the supplement on April 6, 2026. The document contains no new business combination targets, sponsor transaction disclosures, revenue metrics, or litigation updates.

This filing is material because it provides the SPAC's latest status: after terminating its only definitive deal (Squirrel), it has a new LOI with Sandbox Inc., but needs more time to negotiate a definitive agreement. The trust value has been heavily eroded by prior redemptions (now ~$1.19M from original $70M+). The redemption price ($11.66) is below the OTC market price ($12.24), but liquidity is uncertain. The extension, if approved, gives HSPO until June 2027 to find a deal. If not approved, the SPAC will liquidate. The high insider ownership ensures approval, but public shareholders face a decision to redeem or risk further dilution/wait. The document also discloses sponsor loans, extension fees, and potential PFIC status.

Late Form 10-K notifications immediately signal administrative or audit friction, delaying investor verification of the trust balance and sponsor compliance. For SPAC investors tracking the calendar, the extension mechanism shifts the survival timeline to April 27, 2026, meaning redemption windows are closed and the remaining shares now carry extended expiration risk. The disclosure of $22.0 million in outflows against $2,160,000 in extension deposits indicates net trust erosion per surviving share, which materially alters the implied liquidation value calculation for holders who did not redeem. The absence of any substantive operating updates confirms the entity remains a pre-business combination vehicle, making the upcoming April 2026 deadline the sole catalyst for price discovery.

This is a critical extension vote to avoid liquidation. Shareholders must decide whether to redeem at ~$12.85 per share (approximate trust value) or stay invested in a SPAC that has no current target, has been delisted, and faces potential PFIC and investment company risks. The sponsor and insiders hold ~87.79% of shares and will vote for the extension, but redemption requests could significantly deplete trust assets. The outcome will determine whether HSPO continues searching for a deal or liquidates by June 12, 2027.

Management and the sponsor state they remain committed to and actively searching for a suitable alternative target after mutually terminating the business combination agreement with Squirrel Enlivened Technology Co., Ltd. on October 3, 2025. However, it is 'reasonably expected' the Company could not complete an initial business combination by December 21, 2025. The Board unanimously determined that voluntary delisting was in the overall best interests of the Company because the market value of listed securities fell below the $35,000,000 minimum under Nasdaq Listing Rule 5550(b)(2), public holders fell below 300 under Rule 5550(a)(3), publicly held shares fell below 500,000 under Rule 5550(a)(4), and the market value of publicly held securities fell below $1 million under Rule 5550(a)(5). The Board cited the likely inability to regain compliance and the significant costs associated therewith. Shareholders are informed that no action is required and ownership interests will not be affected, though the transition to OTC markets may alter trading dynamics ahead of any future redemption or liquidation event.

The SPAC is now searching for a new target after its only announced deal fell through. It has very little cash outside the trust ($7,679), a significant working capital deficit ($3.4 million), and must complete a business combination by April 27, 2026 or liquidate. The large redemption triggered by the October 2025 meeting ($22 million) dramatically depleted the trust. Sponsor and Squirrel-related parties have been funding extension payments, but the termination of the business combination agreement means that funding source may be uncertain going forward.

The documented $2,160,000 in cumulative extension payments (per management) directly consumes capital previously earmarked for shareholder return or business acquisition, signaling continued sponsor commitment to extend the combination window while simultaneously eroding net trust value per public share absent reimbursement. By stating that operational variance stems solely from these deposits, leadership confirms the SPAC remains in an active search phase with no transaction momentum. The auditor-driven reporting delay introduces administrative risk; investors tracking the combination timeline should monitor whether future periodic filings face similar friction, as prolonged administrative lag can coincide with deteriorating liquidity or governance strain before a final resolution.

Then reviewing whatever else of substance the document contains: the filing makes zero claims about customers, revenue, market size, strategy, technology, or partnerships. Its remaining non-mechanical substance is confined to corporate governance and personnel actions validated by the recorded votes: directors Mark Singh and Rodolfo Jose Gonzalez Caceres were re-elected for three-year terms (each tallying 2,801,438 votes for and 1,314,383 against), and UHY LLP was appointed as the independent registered public accounting firm for the fiscal year ending December 31, 2025 (2,801,440 votes for). For investors tracking redemption calendars, trust distributions, and sponsor behavior, the accelerated primary deadline paired with the removal of the US$5,000,001 net tangible asset floor fundamentally alters the risk profile, allowing mass redemptions that previously would have forced early wind-downs. The unilateral extension authority shifts bargaining power to existing management during the six-month grace period, while the confirmed departure of 1,764,505 shares structurally reduces the public float ahead of the October 27, 2025 contingency date, directly impacting capital allocation and per-share trust entitlements going forward.

The filing is critical for redemption calendar and trust value mechanics. It offers public shareholders a redemption election at approximately $12.38 per share (vs. $12.27 market price as of the record date), with a redemption deadline prior to the October 27, 2025 meeting. The NTA amendment, if approved, removes the $5,000,001 NTA floor on redemptions, which could allow mass redemptions that threaten deal viability. The extension proposals grant up to six additional months (to April 2026) to find a new target. The filing also discloses potential Nasdaq delisting risk if a business combination is not completed by December 21, 2025 (36-month listing rule). Insiders (50.63% ownership) plan to vote for all proposals, providing near-certain approval.

This filing represents a critical fork for HSPO. Without approval, the company will liquidate and redeem public shares after October 27, 2025. Approval buys up to six more months to find a new target after the failed Squirrel deal, but redemptions could shrink the trust. Eliminating the $5,000,001 net tangible asset cap removes a constraint on redemptions but risks the combined entity failing to meet Nasdaq listing standards, potentially subjecting it to penny stock rules. The board recommends approval, and insider ownership makes passage likely. The trust per share is $12.85 (as per prompt), and as of June 30, 2025 the trust held approximately $22.49 million. The Record Date is October 7, 2025.

The mutual termination strips the overhang of the Squirrel Enlivened transaction, resetting shareholder expectations and compression time to a fixed October 27, 2025 liquidation horizon, which directly governs when redemption notices become viable and trust value distribution calculations commence. The Sponsor’s deployment of $120,000 demonstrates continued capital commitment to preserve public options, while the attached promissory note’s structural waiver of recourse against Trust Account Funds ensures that public redemptions remain insulated from sponsorship leverage in a liquidation scenario. The underwriting amendment fundamentally alters post-combination dilution math by substituting a $2,415,000 cash payout with 805,000 newly issued ordinary shares, thereby preserving near-term liquidity but capping float expansion ahead of any future merger vote. Concurrently, the mandated registration pathway and pro-rata liquidation fallback protect public holders from underwriter claim seniority. Together, these filings shift the risk/reward calculus toward an accelerated second-search phase, clarify how sponsorship debt converts to equity, and lock in regulatory disclosure obligations for any successor acquisition vehicle.

This filing materially updates HSPO’s redemption calendar by securing a verified extension to September 27, 2025, preserving the trading, voting, and redemption windows for public shareholders. The structural safeguard in the note ensures that the $120,000 extension fee and resulting debt obligation cannot be satisfied using public trust proceeds, thereby protecting trust value ($12.85 per share as noted in the tracker data) from depletion during the extension period. The use of a target-affiliated entity to fund the fee under a pre-existing merger agreement indicates continued sponsor and target alignment toward closing the Squirrel transaction. Additionally, the company’s forward-looking statements section projects market opportunities, expected growth advantages for Squirrel HoldCo, and anticipated post-transaction enterprise value, while cautioning that outcomes may differ due to limited operating history, macroeconomic demand shifts, redemption impacts on available cash, and Nasdaq listing compliance requirements. Investors tracking the deal should monitor the imminent mailing of the definitive proxy statement and prepare for shareholder approval votes ahead of the new late-August/early-September deadline.

This extension utilizes the first of four permitted monthly renewals, preserving the contractual ceiling that caps the total lifespan at December 27, 2025. By channeling the $120,000 extension payment through a subsidiary designee and documenting it as an unsecured, non-trust-recourse debt instrument, the sponsor effectively shields the public shareholders’ trust balance from encumbrance while demonstrating continued operational commitment ahead of the new September cutoff. The filing confirms that Squirrel Cayman has already lodged a Form F-4 registration statement and preliminary proxy with the SEC, meaning definitive voting materials, redemption instructions, and structural details are imminent. Other substantive disclosures include securities specifications (whole warrants priced at $11.50 and fractional rights capturing one-tenth of one Ordinary Share), personnel signatures by Zhao Ang Xiong of Squirrel HK, and forward-looking projections regarding anticipated financial results, estimated post-transaction enterprise value, and the Squirrel Companies’ projected post-closing cash position. These strategic claims are expressly attributed to HSPO and Squirrel HoldCo, accompanied by explicit disclaimers warning that actual outcomes could materially diverge due to factors including limited operating histories, integration execution risks, Nasdaq listing standard compliance, and variable cash availability dependent on public shareholder redemption behavior. None of these forward-looking assertions carry an obligation for periodic updates outside formal regulatory filings.

Section 2.03 disclosures indicate the extension preserves the SPAC’s listing status and delays mandatory redemption or liquidation triggers until at least September 27, 2025. According to Section 11 of the promissory note attached to the filing, the payee explicitly waives any claim to Trust Account Funds, meaning Squirrel HK’s recovery rights default to non-trust corporate assets alone if the business combination terminates. Because the extension capital originated from the target’s affiliate rather than the formal sponsor entity, the cash flow mechanics diverge from typical sponsor-funded extensions. Regarding deal fundamentals, the filing contains no substantive claims regarding customers, revenue, market size, technology, or litigation; it exclusively reports regulatory filing activity, personnel authorization via CEO Mingyu (Michael) Li, and timeline adjustments tied to the Squirrel transaction.

This filing confirms the SPAC is alive but burning cash with only $13,259 outside the trust. The extension fees are now being paid by the target company (Squirrel), not the sponsor, which indicates the target is highly motivated to close. The redemption value per share ($12.107) provides a clear floor for shareholders evaluating whether to redeem. The going concern warning is repeated, but the continuous monthly extensions suggest the deal is still on track.

According to the registrant’s forward-looking statements, management projects discussion of post-transaction enterprise value, anticipated market opportunity, expected growth of the Squirrel Companies, and the combined entity’s cash position following potential redemptions. Chief Executive Officer Mingyu (Michael) Li executed the report, and Zhao Ang Xiong, identified as CEO of the payee, signed the note. The filing incorporates standard risk disclosures regarding Nasdaq listing standards, security holder approvals, and redemption-induced liquidity constraints. The extension prevents an immediate liquidation event, keeping the redemption window open through August 27, 2025 while directing the $120,000 fee into the trust account for public shareholders. Isolating the $120,000 extension debt from the trust via explicit waiver language preserves the existing trust balance for redemptions or merger consideration, avoiding dilution during the extension period. The counterparty-funded extension highlights ongoing negotiation leverage tied to the Squirrel Companies transaction, while the forward-looking projections about cash position and growth indicate active due diligence despite pending regulatory milestones. Shareholders monitoring the trust and deal clock now track the amended August 27, 2025 deadline and await the definitive proxy statement and prospectus referenced in the filing, which will finalize valuation, voting thresholds, and redemption mechanics.

The filing confirms the sponsor’s designee funded the extension through a direct corporate advance backed by an issuer note, shielding the trust balance from external claims and preserving full redemption value. Deal progress contextually advances as the registrant and Squirrel Companies disclose a filed Form F-4 registration statement that incorporates a preliminary proxy statement and prospectus for the proposed merger with Squirrel HoldCo, Squirrel Cayman, Merger Sub, and Shenzhen Squirrel Enlivened Media Group Co. Ltd. The note’s default framework lists triggers including bankruptcy, cross-defaults, and enforcement actions, governed by New York law, with “business day” defined by simultaneous banking operations in China and New York. Forward-looking projections concerning market opportunity, post-merger cash positions, and enterprise value are made by the registrant and Squirrel Companies but are expressly disclaimed and tied to risks catalogued in the March 28, 2025, Form 10-K and the December 22, 2022, Final Prospectus.

It advances the redemption and closing calendar by exactly thirty days while preserving four remaining monthly extension windows through December 27, 2025. It shifts sponsorship funding mechanics to a designated affiliate rather than the named SPAC Sponsor, and creates a direct $120,000 corporate liability with standard acceleration triggers that operate outside the trust environment. For investors tracking capital structure, it confirms the Payee has waived trust recourse, meaning public shareholders’ pooled proceeds remain insulated from this extension fee obligation even if the SPAC liquidates. The absence of new commercial terms, revenue projections, or customer disclosures limits operational insight, making this a structurally focused update rather than a valuation catalyst.

This filing actively resets the redemption and liquidation calendar, delaying the point at which public shareholders must choose to stay or exit. The allocation of the extension fee to the target affiliate instead of the sponsor alters the expected post-merger balance sheet dynamics and demonstrates the target's active role in maintaining the SPAC's listing status during negotiations. The document further discloses that the target has filed a preliminary proxy statement/prospectus on Form F-4 containing projections of market opportunity and the estimated post-transaction enterprise value, while noting risks around limited operating history and Nasdaq listing standards. Chief Executive Officer Mingyu (Michael) Li signed the filing attesting to the extension and the associated promissory note.

The extension mechanically shifts the shareholder voting and redemption window, giving public holders additional time before the July 27, 2025 liquidity event triggers if no deal closes. By isolating the $120,000 extension payment outside the trust via promissory note terms, the sponsor arrangement preserves per-share trust capital for actual redemptions rather than diluting it through trust-account drawdowns. Per the registrant's disclosure, a Form F-4 registration statement containing a preliminary proxy statement and prospectus has already been filed by Squirrel Cayman, signaling that definitive proxy logistics and subsequent shareholder solicitation deadlines are approaching. The filing references forward-looking projections from management regarding the Squirrel Companies’ anticipated market opportunity, estimated post-transaction enterprise value, and projected cash position, though it attributes these outcomes to disclosed risk factors including limited operating history, Nasdaq listing standard compliance, and integration execution. No independent audited financial metrics, customer concentration data, or technology milestones are quantified in this record.

For investors tracking redemption calendars and trust preservation, the filing confirms the trust account received exactly $120,000, maintaining existing per-share trust balances through late July 2025 without triggering early redemption windows. The shift in funding responsibility from the traditional Sponsor to the target affiliate (Squirrel Shenzhen) alters standard SPAC extension dynamics, while the accompanying $120,000 note creates a direct, non-interest-bearing corporate liability. According to the forward-looking statements section, executives acknowledge risks including limited operating history, potential redemptions reducing available cash, Nasdaq listing standard compliance, and the possibility of closing failures due to missing shareholder approvals. Chief Executive Officer Mingyu (Michael) Li executed both the 8-K and the promissory note, confirming executive alignment with the extension. The document establishes a firm one-month buffer for voting and redemption decisions ahead of the definitive proxy statement mailing.

For investors monitoring the stated $12.85 per-share trust balance and 2027-06-12 termination deadline, the filing confirms operational liquidity was raised without touching the trust account, thereby shielding public redemption value. The sponsor’s documented waiver of trust recourse limits downside leverage to non-trust assets and clarifies that failure to merge triggers repayment from residual corporate funds rather than shareholder trust balances. The $300,000 facility introduces future dilution through the $10.00 per-unit conversion mechanic into private placements covering ordinary shares, warrants exercisable at $11.50, and rights to acquire one-tenth of one ordinary share. Standard covenant protections are noted, including acceleration upon unpaid defaults exceeding five business days past maturity or bankruptcy proceedings remaining unstayed for 60 consecutive days, without modifying the existing redemption timeline or triggering a deadline extension.

The extension preserves public shareholders' redemption rights through June 27, 2025, keeping the tender window open ahead of the forthcoming proxy solicitation. By having the acquisition target's affiliate fund the extension rather than HSPO's traditional sponsor, the filing alters pre-closing capital flow dynamics and introduces a direct, non-trust financial liability of $120,000 that would fall due from other corporate assets if the transaction terminates. Regarding broader substance, the filing states that Squirrel Cayman has filed a preliminary Form F-4 registration statement containing a proxy statement detailing the proposed transaction with the "Squirrel Companies," specifically naming Shenzhen Squirrel Enlivened Media Group Co. Ltd. The registrant's forward-looking statements section warns shareholders that outcomes may differ due to the target's limited operating history, the ability to satisfy Nasdaq listing standards post-merger, general economic conditions affecting demand for the Squirrel Companies' services, and uncertainties around post-transaction cash positions and required security holder approvals.

The filing materially resets the redemption calendar and establishes a target-funded extension model per the September 16, 2024 Agreement and Plan of Merger. According to the document, Squirrel Cayman filed a Form F-4 registration statement containing a preliminary proxy statement, marking the next prerequisite for shareholder voting and deal completion. Forward-looking statements attributed to HSPO and the Squirrel Companies outline risks including limited operating history, potential failure to receive required security holder approvals, the impact of redemptions on available cash, and uncertainty surrounding Nasdaq listing standards. The filing attributes execution signatures to CEO, CFO and Director Mingyu (Michael) Li and Squirrel HK CEO Zhao Ang Xiong. Securities terms cited include an $11.50 warrant exercise price and $0.0001 ordinary share par value.

What changed: An 8-K Current Report acting as a proxy statement supplement to correct an arithmetic error regarding the estimated per-share redemption price for Horizon Space Acquisition I Corp.'s upcoming shareholder vote. The company disclosed that its April 2 preliminary filing incorrectly calculated the estimated redemption amount. Based on the amount in the Trust Account as of March 26, 2026, the corrected estimated redemption price is approximately $12.725 per public share, up from the prior $11.66. Consequently, the open market comparison was updated: redeeming shares would now result in receiving approximately $0.49 more per share than selling at the $12.24 OTCQB record date closing price, reversing a previous projection that redemption would yield roughly $0.58 less. The extraordinary general meeting for the MAA Amendment Proposal extends the business combination deadline to June 12, 2027, and remains scheduled for April 20, 2026. Why it matters: This correction directly impacts the redemption calculus for public shareholders just days before the record date. By increasing the projected redemption value by $1.065 per share, the gap between the cash redemption price and the public trading price narrows significantly, likely shifting shareholder behavior toward exercising redemption rights rather than selling in the secondary market. This reduces the number of shares redeemed, preserves more trust proceeds for the extended period, and alters the effective cost of the extension. Management's miscalculation also warrants scrutiny regarding internal controls around trust accounting before the vote. No other terms, deadlines, or trust agreement mechanics are altered.

What changed: This filing is a supplemental proxy solicitation material (Form 8-K/DEFA14A) that amends and supplements Horizon Space Acquisition I Corp.’s previously issued definitive proxy statement. The Company reports a corrected estimated per-share redemption price for public shares. Based on the Trust Account balance as of March 26, 2026, the Company originally disclosed approximately $11.66 per share but now states the corrected amount is approximately $12.725 per share. Regarding the proposal to amend the charter to extend the business combination deadline to June 12, 2027 (subject to approval at the April 20, 2026 Extraordinary Meeting), the Company revises its comparison to the open market. Previously, the Company stated redeeming would result in receiving approximately $0.58 less per share than the $12.24 OTCQB closing price on the Record Date. The Company now discloses that redeeming would result in receiving approximately $0.49 more per share than the $12.24 market price. The Company confirms no changes to the meeting logistics, record date, or the accompanying conditional amendment to the Investment Management Trust Agreement dated December 21, 2022. Why it matters: The revision flips the disclosed economic incentive for public shareholders from a redemption discount to a redemption premium relative to the secondary market, directly affecting redemption election timing and proxy voting behavior ahead of the April 20, 2026 meeting. The filing confirms the SPAC’s ongoing pursuit of the June 12, 2027 extension deadline while attributing the initial valuation discrepancy to an arithmetic miscalculation by Company management. Chief Executive Officer Mingyu (Michael) Li signed the supplement on April 6, 2026. The document contains no new business combination targets, sponsor transaction disclosures, revenue metrics, or litigation updates.

What changed: Definitive proxy statement (DEF 14A) filed by Horizon Space Acquisition I Corp. to solicit shareholder votes on proposals to extend the deadline to complete an initial business combination from April 27, 2026 to June 12, 2027, and to amend the trust agreement accordingly. HSPO seeks shareholder approval to extend its business combination deadline by approximately 14 months to June 12, 2027. The SPAC's prior deal with Squirrel Enlivened Technology was terminated in October 2025. A new non-binding LOI with Sandbox Inc. (robotics/AI) was signed on January 22, 2026, but the company believes it cannot close by the current deadline of April 27, 2026. The trust account holds approximately $1.19 million as of March 26, 2026. The company voluntarily delisted from Nasdaq in December 2025 and now trades on OTC. Public shareholders may redeem at ~$11.66 per share. Insiders (87.79% ownership) will vote for the extension. Redemption deadline is prior to the shareholder meeting on April 20, 2026. Why it matters: This filing is material because it provides the SPAC's latest status: after terminating its only definitive deal (Squirrel), it has a new LOI with Sandbox Inc., but needs more time to negotiate a definitive agreement. The trust value has been heavily eroded by prior redemptions (now ~$1.19M from original $70M+). The redemption price ($11.66) is below the OTC market price ($12.24), but liquidity is uncertain. The extension, if approved, gives HSPO until June 2027 to find a deal. If not approved, the SPAC will liquidate. The high insider ownership ensures approval, but public shareholders face a decision to redeem or risk further dilution/wait. The document also discloses sponsor loans, extension fees, and potential PFIC status.

What changed: Form 12b-25, Notification of Late Filing. This is a Form 12b-25 notification filed by Horizon Space Acquisition I Corp. stating that its Form 10-K for the period ended December 31, 2025, was delayed because the Company requires additional time to work internally to assemble certain documents as required by auditors, with filing anticipated within fifteen calendar days of the prescribed due date. Regarding redemption deadlines, trust value, extensions, and deal progress, the Company reports that on October 27, 2025, shareholders amended the charter to move the business combination deadline to October 27, 2025, followed by up to six monthly extensions bringing the final deadline to April 27, 2026. In connection with this amendment, public shareholders redeemed 1,764,505 Ordinary Shares, triggering the release of approximately $22.0 million from the trust account. To fund each monthly extension, the Company deposited a total of $2,160,000 into the trust account as of December 31, 2025. Chief Executive Officer Mingyu Li attributes the anticipated significant change in results of operations for the fiscal year to these trust deposits and the payout for redemptions. The filing contains no claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or other personnel beyond identifying Mingyu Li as the signing Chief Executive Officer and primary contact. Why it matters: Late Form 10-K notifications immediately signal administrative or audit friction, delaying investor verification of the trust balance and sponsor compliance. For SPAC investors tracking the calendar, the extension mechanism shifts the survival timeline to April 27, 2026, meaning redemption windows are closed and the remaining shares now carry extended expiration risk. The disclosure of $22.0 million in outflows against $2,160,000 in extension deposits indicates net trust erosion per surviving share, which materially alters the implied liquidation value calculation for holders who did not redeem. The absence of any substantive operating updates confirms the entity remains a pre-business combination vehicle, making the upcoming April 2026 deadline the sole catalyst for price discovery.

What changed: Preliminary proxy statement (PRE 14A) filed by Horizon Space Acquisition I Corp. (HSPO) seeking shareholder approval to amend its charter (MAA) and trust agreement to extend the deadline to complete an initial business combination from April 27, 2026 to June 12, 2027, along with an adjournment proposal. The company proposes to extend the deadline to June 12, 2027 (from the current April 27, 2026). The prior deal with Squirrel Enlivened Technology Co. was terminated in October 2025. No new definitive agreement has been announced. HSPO voluntarily delisted from Nasdaq to OTC in December 2025. The sponsor and Squirrel provided extension notes totaling $2.16 million; additional sponsor notes of $1.8 million exist. Redemption rights are offered to public shareholders in connection with the extension vote. The trust value per share is stated as $12.85 (from your prompt, though not in the filing text). Why it matters: This is a critical extension vote to avoid liquidation. Shareholders must decide whether to redeem at ~$12.85 per share (approximate trust value) or stay invested in a SPAC that has no current target, has been delisted, and faces potential PFIC and investment company risks. The sponsor and insiders hold ~87.79% of shares and will vote for the extension, but redemption requests could significantly deplete trust assets. The outcome will determine whether HSPO continues searching for a deal or liquidates by June 12, 2027.

What changed: A Schedule 13G/A amendment accompanied by Exhibit I, a routine compliance exhibit titled 'JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k)'. The filing reports no changes to HSPO’s redemption timeline, trust value, liquidation deadline, target search progress, or sponsor conduct. The document consists solely of a procedural acknowledgment dated February 13, 2026, signed by Joy Ausili (identifying herself as Trustee, Vice President and Assistant Secretary) and Chad Eisenberg (identifying himself as Chief Operating Officer). They confirm that First Trust Merger Arbitrage Fund, First Trust Capital Management L.P., First Trust Capital Solutions L.P., and FTCS Sub GP LLC will execute future 13G/A amendments jointly, while each retains independent liability for the completeness and accuracy of its own disclosed positions. Why it matters: For investors tracking the SPAC’s mechanics and governance, this submission matters because it preserves the continuous Section 13(d) reporting chain for a consolidated First Trust investment group as the pre-death window nears, preventing disclosure fragmentation and ensuring transparent beneficial ownership tracking. The document contains zero claims regarding customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel; all referenced entity names, dates, and professional titles originate solely from the filing header and the signatories’ printed credentials. While the excerpt provides no proprietary metrics or operational updates, routine joint-filing acknowledgments confirm that institutional monitoring of the trust and capitalization tables remains active under SEC rules and may signal continued portfolio-level scrutiny ahead of potential extension or de-spac events.

What changed: Routine compliance exhibit: a Schedule 13G/A beneficial ownership amendment and its accompanying Joint Filing Agreement for Ordinary Shares of Horizon Space Acquisition I Corp. The filing amends a previously reported Schedule 13G, though the excerpt does not specify the exact number of shares or percentage points that shifted between filings. It confirms that Westchester Capital Management, LLC, Virtus Investment Advisers, LLC, and The Merger Fund are aggregating their positions and filing jointly under Rule 13d-1(k) of the Securities Exchange Act of 1934. Execution was attributed to CaSaundra Wu (Chief Compliance Officer), Chetram Persaud (Chief Compliance Officer), and Daphne Chisolm (Vice President, Counsel and Assistant Secretary) on February 13, 2026. Why it matters: For investors tracking redemption deadlines, trust value, extensions, deal progress, and sponsor conduct, this document bears no weight on the SPAC’s SEARCHING status, its trust mechanics, its stated deadline, or any extension or merger negotiations. It contains zero claims about customers, revenue, market size, strategy, technology, partnerships, litigation, or personnel. The sole substance is procedural: institutional shareholders consolidating reporting obligations per the signed agreement.

What changed: A routine compliance exhibit (Limited Power of Attorney, Exhibits A and B) attached to a Schedule 13G/A filing, executed on 2-12-2026 by Mizuho Financial Group, Inc., Mizuho Bank, Ltd., Mizuho Americas LLC, and Mizuho Securities USA LLC to delegate signing authority for Section 13(d) and Section 13(g) reporting regarding HSPO securities. This filing excerpt reports zero modifications to HSPO’s redemption deadlines, trust account value per share, extension mechanisms, target acquisition progress, or sponsor conduct. As attributed by the executing Mizuho entities, the only reported update is administrative: the companies have formally assigned execution responsibility for their SEC exchange-reporting obligations to designated officers (Takahiro Katsura, Hidekatsu Take, and Adam Hopkins). Mizuho Financial Group classifies itself as an 'A non-U.S. institution equivalent to Bank,' Mizuho Americas LLC as 'A parent holding company,' and Mizuho Securities USA LLC as 'A registered Broker-Dealer.' Primary office locations are cited as 1-5-5, Otemachi, Chiyoda-ku, Tokyo 100-8176, Japan, and 1271 Avenue of the Americas, NY, NY 10020, USA. Why it matters: Because the text contains exclusively boilerplate signing delegations and subsidiary classifications, it provides no data on investor liquidation windows, trust preservation trajectories, merger clock extensions, or business combination velocity. The exhibit merely documents Mizuho’s internal compliance routing for statutory disclosure duties and offers no actionable signals regarding HSPO’s corporate actions, capital structure, or deal timeline.

What changed: Form 8-K Current Report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, specifically addressing Item 4.01 (Changes in Registrant’s Certifying Accountant) and Item 9.01 (Financial Statements and Exhibits), accompanied by Exhibit 16.1 containing the departing auditor’s consent letter. Horizon Space Acquisition I Corp. announced that, upon approval by the Board of Directors and the Audit Committee, it dismissed UHY LLP as its independent registered public accounting firm and appointed TAAD LLP to serve as the independent auditor for the fiscal year ended December 31, 2025. The registrant stated that UHY’s audits for the fiscal years ended December 31, 2023 and 2024 contained no adverse opinions, disclaimers, or modifications, and that there were no disagreements on accounting principles, financial statement disclosures, or auditing scope or procedure through January 22, 2026. The company further confirmed there were no reportable events as defined by Regulation S-K, and that neither the Company nor anyone on its behalf consulted TAAD LLP prior to engagement regarding specified transactions or audit opinions. Chief Executive Officer Mingyu (Michael) Li executed the report. The filing also restates the issuer’s securities registration, confirming each whole redeemable warrant is exercisable for one ordinary share at an exercise price of $11.50. Why it matters: The filing does not modify the redemption deadline, trust account distribution mechanics, extension voting schedule, or business combination search status. For investors tracking sponsor conduct and deal sequencing, the accounting firm transition reflects standard administrative renewal rather than internal control failures or valuation disputes, given the registrant’s explicit certifications of clean audit histories and zero prior disagreements. Because the sponsor remains in a searching phase without an identified target, the auditor switch does not immediately trigger redemption triggers or affect the January 2027 liquidation horizon, though holders should monitor whether TAAD LLP’s appointment aligns with upcoming quarterly or annual financial reporting requirements preceding a de-SPAC transaction.

What changed: A Form 8-K current report and accompanying Sponsor Promissory Note exhibit disclosing the entry into a material definitive agreement and the creation of a direct financial obligation. According to the Sponsor Promissory Note exhibit attached to this 8-K, Horizon Space Acquisition I Corp. issued an unsecured promissory note with a principal amount of $500,000 to Horizon Space Acquisition I Sponsor Corp. The filing states the note funds general working capital purposes until the earlier of consummating a business combination or the maturity date. The instrument bears no interest. The sponsor retains an optional, non-obligatory right to convert the outstanding principal into private units by dividing the sum of the outstanding principal by $10.00. The payee expressly waived all right, title, interest, or claim to the trust account funds, stipulating that if the maker does not consummate a business combination, repayment draws solely from non-trust assets. The public redemption deadline of 2027-06-12 and the documented trust/share value of $12.85 remain unaffected. Redeemable warrants retain a $11.50 exercise price, ordinary shares carry a $0.0001 par value, and whole rights entitle holders to acquire one-tenth (1/10) of one ordinary share. Why it matters: This filing confirms the sponsor is extending working capital liquidity to sustain pre-combination operations, which preserves the $12.85 per-share trust value from being drawn to service debt. The explicit trust account waiver shields public shareholder redemption mechanics from creditor priority claims tied to this obligation. The $10.00 conversion denominator establishes baseline private unit economics conditional on a successful merger, though conversion remains entirely at the sponsor's discretion. The document contains no claims regarding customers, revenue, market size, strategic technology, commercial partnerships, pending litigation, or target selection progress. Personnel references are restricted to Chief Executive Officer, Chief Financial Officer, and Director Mingyu (Michael) Li executing the agreement. The registrant identifies as an emerging growth company located at 1412 Broadway, 21st Floor, Suite 21V, New York, NY 10018.