Horizon Space Acquisition I Corp. Delisted from Nasdaq

TL;DR

HSAC is off Nasdaq, folks. Get ready for OTC trading.

AI Summary

Horizon Space Acquisition I Corp. filed an 8-K on October 3, 2024, to report its delisting from the Nasdaq Capital Market. The company failed to meet the continued listing requirements, leading to its transfer. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant event for Horizon Space Acquisition I Corp. shareholders as the company is no longer listed on a major exchange, potentially impacting liquidity and valuation.

Risk Assessment

Risk Level: high — Delisting from a major exchange like Nasdaq signifies a failure to meet listing standards, which is a significant negative event for the company and its investors.

Key Players & Entities

• Horizon Space Acquisition I Corp. (company) — Registrant
• Nasdaq Capital Market (company) — Exchange from which delisted
• October 3, 2024 (date) — Date of report and earliest event

FAQ

Key Financial Figures

• $0.0001 — nits, consisting of one Ordinary Share, $0.0001 par value, one redeemable Warrant to ac
• $11.50 — Ordinary Share at an exercise price of $11.50 HSPOW The Nasdaq Stock Market LLC

Filing Documents

• hspo_8k.htm (8-K) — 32KB
• 0001929980-24-000460.txt ( ) — 184KB
• hspo-20241003.xsd (EX-101.SCH) — 6KB
• hspo-20241003_lab.xml (EX-101.LAB) — 18KB
• hspo-20241003_cal.xml (EX-101.CAL) — 1KB
• hspo-20241003_pre.xml (EX-101.PRE) — 13KB
• hspo-20241003_def.xml (EX-101.DEF) — 5KB
• hspo_8k_htm.xml (XML) — 8KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 3, 2024, Horizon Space Acquisition I Corp. (the " Company ") received a letter (the " Letter ") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (" Nasdaq ") notifying that the Company was not in compliance with Listing Rules 5450(a)(2), which requires the Company to have at least 400 shareholders for continued listing on the Nasdaq Global Market (the " Minimum Total Holders Rule "). The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities on the Nasdaq Global Market. The Letter states that the Company has 45 calendar days (until November 19, 2024) to submit a plan to regain compliance with the Minimum Total Holders Rule. If Nasdaq accepts the Company's plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Letter to evidence compliance with the Minimum Total Holders Rule. If Nasdaq does not accept the Company's plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. The Letter notes that the Company may be eligible to transfer the listing of its securities to the Nasdaq Capital Market, provided that it then satisfies the requirements for continued listing on the Nasdaq Capital Market. On October 3, 2024, the Company submitted an application for a transfer from the Nasdaq Global Market to the Nasdaq Capital Market, which is currently pending review by Nasdaq.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Horizon Space Acquisition I Corp. Date: October 3, 2024 By: /s/ Mingyu (Michael) Li Name: Mingyu (Michael) Li Title: Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR