Horizon Space Acquisition I Corp. — Cyborg Score 3/10
Weak
SPAC / Blank Check Acquisition Vehicles
Strategic Profile
The company obtained shareholder approval (in April 2026) to extend its deadline to complete a business combination or wind up and redeem all public shares to June 12, 2027. The company voluntarily delisted from the Nasdaq Capital Market (in December 2025) and commenced trading on the over-the-counter markets. The SPAC remains in search of a definitive acquisition target as it approaches its extended deadline.
Cyborg Score Rationale
As an unfulfilled SPAC with extended deadlines, limited liquidity (OTC trading post-delisting), and a non-binding letter of intent with Sandbox Inc., the company carries material execution risk. The redemption pressure and extended timeline indicate investor skepticism regarding deal prospects.
Top Insights
(April 2026) Extended SPAC deadline to June 12, 2027, following shareholder vote; 34,818 shares redeemed with 2.37M shares outstanding
(December 2025) Delisted from Nasdaq; now trades on OTC markets under ticker HSPOF
Non-binding letter of intent with Sandbox Inc. (robotics/AI company) but no completed deal expected near original deadline
Trust account holds approximately $1.19M (as of March 2026); redemption rights available to shareholders
Named Competitors
Sandbox Inc. — California robotics and AI company; target of Horizon Space's non-binding letter of intent
Recent Developments
(April 2026) Shareholders approved extension of business combination deadline to June 12, 2027
(December 2025) Delisted from Nasdaq Capital Market; shifted to OTC trading
(March 2026) Trust account balance approximately $1.19 million; pro rata redemption value ~$11.66 per share
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