HSPTHIGH SIGNALMANAGEMENT10-K

HSPT has completed its business combination with SL Bio, transitioning from a SPAC searching for targets to a subsidiary of a new public company trading on Nasdaq.

This represents the culmination of HSPT's purpose as a special purpose acquisition company, fundamentally transforming the investment thesis for shareholders who now own shares in the combined entity. The appointment of a new sole director and the approval of amended articles of association indicate complete operational control has transferred to the new structure.

Comparing 2026-04-08 vs 2025-03-27View on EDGAR →
FINANCIAL ANALYSIS

The balance sheet shows a dramatic decline in current assets from $720K to $30K, representing the consumption of SPAC resources during the business combination process. This substantial reduction in liquid assets reflects the typical pattern of SPAC completion where trust account funds are either distributed to redeeming shareholders or deployed into the combined business operations. The financial position now represents the new combined entity rather than the original SPAC structure.

FINANCIAL STATEMENT CHANGES
Current Assets
Balance Sheet
-95.9%
$720K→$30K

Current assets declined 95.9% — monitor working capital adequacy and short-term liquidity.

LANGUAGE CHANGES
NEW — 2026-04-08
PRIOR — 2025-03-27
ADDED
Upon the consummation of the SL Bio Business Combination, each of the Company and SL Bio will become a subsidiary of PubCo, and the Company s shareholders and SL Bio s shareholders will receive ordinary shares, par value US$1.00 per share, of PubCo ( PubCo Ordinary Shares ) as consideration and become the shareholders of PubCo.
The PubCo Ordinary Shares are expected to be listed and traded on the Nasdaq Stock Market LLC following the consummation of the SL Bio Business Combination.
In connection with the SL Bio Business Combination, PubCo filed with the SEC a registration statement on Form F-4 (File No.
On February 12, 2026, the Company held an extraordinary general meeting (the Business Combination EGM ) in connection with the SL Bio Business Combination.
Amended M A Proposal: the shareholders approved, ratified and confirmed in all respects the amendment and restatement of memorandum and articles of association of PubCo.
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REMOVED
As of March 24, 2025, there were 9,080,000 ordinary shares of the Company, par value $0.0001 per share issued and outstanding.
We have not selected any target business for our initial business combination.
(NASDAQ: LBBB), and the Chairman, Chief Executive Officer, Chief Financial Officer and Director of Horizon Space Acquisition I Corp.
We have until November 18, 2025 to consummate an initial business combination.
However, if we anticipate that we may not be able to consummate our initial business combination by November 18, 2025, we may extend the period of time to consummate a business combination up to two times, each time by an additional three months (up to May 18, 2026 to complete a business combination) (the Combined Period ) without submitting such proposed extensions to our shareholders for approval or offering our public shareholders redemption rights in connection therewith.
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