Financial Performance - The company had a net loss of $33,604 and $44,710 for the three and nine months ended September 30, 2024, respectively, all attributed to formation and operating expenses[114]. - As of September 30, 2024, the company had cash of $0 and a working capital deficiency of $175,658[119]. Fundraising Activities - The company raised gross proceeds of $60,000,000 from the IPO by selling 6,000,000 units at an offering price of $10.00 per unit[108]. - An additional 900,000 units were sold under the over-allotment option, generating gross proceeds of $9,000,000[108]. - The private placement generated total proceeds of $2,135,000 from the sale of 213,500 units at a price of $10.00 per unit[109]. - The total proceeds of $69,000,000 from the IPO and private placement were placed in a trust account for the benefit of public shareholders[111]. Operational Status - The company has not engaged in any operations or generated any revenues to date, focusing solely on identifying acquisition candidates[113]. - The company plans to use the funds held outside the trust account for identifying and evaluating prospective acquisition candidates over the next 12 months[117]. Financial Obligations - The company has no long-term debt, capital lease obligations, or long-term liabilities as of September 30, 2024[121]. - The company has incurred and expects to continue incurring significant professional costs to remain a publicly traded company[119].
Horizon Space Acquisition II Corp(HSPTU) - 2024 Q3 - Quarterly Report