HSPTUHIGH SIGNALMANAGEMENT10-K

HSPTU has completed its business combination with SL Bio, transitioning from a SPAC seeking targets to a merged entity with new leadership and Nasdaq listing plans.

This represents the culmination of the SPAC's original purpose, as shareholders approved the merger and will receive shares in the new combined public company (PubCo) expected to trade on Nasdaq. The appointment of William Wang Ching-Dong as sole director indicates a complete management transition, suggesting SL Bio's team will control the merged entity going forward.

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, reflecting the substantial depletion of cash resources typical in SPAC transactions where funds are distributed to complete the business combination. This cash reduction aligns with the consummation of the merger, as the company has transitioned from holding investor funds in trust to deploying them for the acquisition.

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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