Horizon Space Acquisition II Corp. 8-K

What Happened
Horizon Space Acquisition II Corp. (HSPT) announced a one‑month extension of its deadline to complete an initial business combination, extending the date from March 18, 2026 to April 18, 2026. The extension (the second of up to 12 one‑month extensions allowed under a February 13, 2026 charter amendment) was funded by a $50,000 deposit into the company’s trust account on or about March 13, 2026 by William Wang (CEO of SL BIO Ltd.). In connection with that payment, on March 17, 2026 the company issued an unsecured, non‑interest bearing promissory note for $50,000 to Mr. Wang.

Key Details

• Extension: one month, from March 18, 2026 to April 18, 2026 (second of up to 12 monthly extensions allowed, up to Feb 18, 2027).
• Extension fee mechanics: Sponsor/designee must deposit the lesser of $50,000 or $0.033 per remaining public share for each one‑month extension.
• Promissory Note: $50,000, unsecured, no interest, payable on either closing of the business combination or company expiry (Maturity Date); events of default may lead to acceleration.
• Conversion right: Payee may convert all or part of the Note into private units at closing by providing notice at least two business days before closing; Units are priced at $10.00 each (number of Units = principal ÷ $10). Note issued under Section 4(a)(2) exemption.

Why It Matters
This filing affects investors because it (1) extends the SPAC’s timeline to complete a merger, delaying a definitive outcome for public shareholders, and (2) creates a $50,000 unsecured obligation that could convert into private units of the company upon a business combination. The extension was funded by an affiliate of the proposed merger counterparty (William Wang / SL BIO), which may be relevant when assessing alignment of interests and the timing of the previously disclosed business combination agreement (dated May 9, 2025) involving SL BIO, PubCo, and the merger subsidiaries.