DealsAug 13, 2026, 04:45 PM
Horizon Space Terminates Merger Agreement; Going Concern Warning
AI Summary
Horizon Space Acquisition I Corp. terminated its Business Combination Agreement with Squirrel HoldCo on October 3, 2025, by mutual agreement. The company reported a net loss of $(214,150) for the six months ended June 30, 2026, and its shareholders' deficit worsened to $(6,277,377). Management has raised substantial doubt about the company's ability to continue as a going concern due to a working capital deficit of $3,862,377 and insufficient cash to complete a business combination, despite extending its deadline to June 12, 2027.
Key Highlights
- Business Combination Agreement with Squirrel HoldCo terminated on October 3, 2025.
- Reported net loss of $(214,150) for six months ended June 30, 2026.
- Shareholders' deficit worsened to $(6,277,377) as of June 30, 2026.
- Working capital deficit of $3,862,377 as of June 30, 2026.
- Management raised substantial doubt about ability to continue as a going concern.
- Business Combination deadline extended to June 12, 2027.
- Investments in Trust Account decreased to $753,670 from $1,179,991.
Price Impact
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