Financial Performance - The company had a net income of $757,286 for the three months ended June 30, 2023, primarily from interest and dividend income of $824,928 on investments held in the Trust Account, offset by operating costs of $67,642[107]. - For the six months ended June 30, 2023, the company reported a net income of $1,456,006, with interest and dividend income totaling $1,641,064 and operating costs of $185,058[107]. - The company reported a net loss, with undistributed income calculated by subtracting interest income and unrealized gains or losses from total net loss[128]. Cash and Working Capital - As of June 30, 2023, the company had cash of $374,628 available for working capital needs, with a total working capital of $440,287[113]. - The company intends to use substantially all net proceeds from the IPO to acquire a target business and cover related expenses, including deferred underwriting commissions[110]. IPO and Fundraising - The company raised gross proceeds of $69,000,000 from the IPO by selling 6,900,000 units at an offering price of $10.00 per unit[102]. - The company completed a private placement of 385,750 units at a purchase price of $10.00 per unit, generating gross proceeds of $3,857,500[103]. Assets and Investments - The total assets held in the Trust Account amounted to $71,861,915 as of June 30, 2023, primarily invested in mutual funds[120]. - As of June 30, 2023, assets in the Trust Account were primarily held in mutual funds and U.S. Treasury securities, classified as trading securities[131]. Business Operations and Future Outlook - The company expects to incur significant costs related to being a public company and pursuing a business combination, raising substantial doubt about its ability to continue as a going concern[113]. - The company has not yet identified a target business for its initial business combination and has not generated any revenue since its inception[101]. Debt and Obligations - The company has no long-term debt or capital lease obligations as of June 30, 2023, but is obligated to pay underwriters deferred fees of $2,415,000 upon completion of a business combination[116]. Taxation - The company is considered an exempted Cayman Islands Company, currently not subject to income taxes in the Cayman Islands or the United States, resulting in a de minimis tax provision[135]. Accounting Standards - The adoption of ASU 2020-06 on July 1, 2022, did not materially affect the company's financial statements[136]. Risk Exposure - As of June 30, 2023, the company was not exposed to market or interest rate risk, with IPO proceeds invested in U.S. government treasury bills and money market funds[138].

Financial Position - As of March 31, 2023, the cash held for working capital needs was $402,754, with total assets in the Trust Account amounting to $71,036,987[106][117]. - The company has a working capital of $552,929 as of March 31, 2023, but faces substantial doubt about its ability to continue as a going concern without completing a business combination[110]. - The company has no long-term debt or off-balance sheet financing arrangements as of March 31, 2023[111][113]. Income and Expenses - The company reported a net income of $698,136 for the three months ended March 31, 2023, primarily due to an unrealized gain of $816,136 on investments held in the Trust Account[105]. - Cash used in operating activities for the three months ended March 31, 2023, was $158,652[106]. - The company has incurred significant expenses related to being a public entity and expects to continue incurring such costs[104]. Business Strategy - The company plans to use substantially all net proceeds from the IPO, including $2,415,000 for deferred underwriting commissions, to acquire a target business[107]. - The company intends to use funds held outside the Trust Account for identifying and evaluating prospective acquisition candidates over the next 12 months[108]. - The company has not generated any revenues to date and is focused on finding a suitable target for its initial business combination[104]. Investments and Risks - The company’s investments in the Trust Account are classified as trading securities and are presented at fair value[117]. - As of March 31, 2023, the company was not subject to any market or interest rate risk, with IPO proceeds invested in U.S. government treasury bills and money market funds[134]. Regulatory and Accounting Matters - The company is considered an exempted Cayman Islands Company and is not subject to income taxes in the Cayman Islands or the United States[132]. - The adoption of ASU 2020-06 on July 1, 2022, did not have a material effect on the company's financial statements[132].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41578 HORIZON SPACE ACQUISITION I CORP. (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdiction of incorpo ...