SCHEDULE: Boothbay Reports 0% Stake in Horizon Space II

Boothbay Fund Management and related entities have filed an amended Schedule 13G, reporting zero beneficial ownership in Horizon Space Acquisition II Corp. ordinary shares.

Summary

• Boothbay Fund Management LLC, Boothbay Absolute Return Strategies, LP, and Ari Glass filed an Amendment No. 1 to Schedule 13G.
• The filing reports 0.00 shares beneficially owned in Horizon Space Acquisition II Corp. ordinary shares by all reporting persons.
• This represents 0% of the class of securities.
• The ordinary shares are held in the form of units, each consisting of one ordinary share and one right to receive 1/10th of one share upon the consummation of the initial business combination.
• The reporting persons disclaim beneficial ownership of these securities, particularly where investment and voting discretion has been delegated to subadvisors and cannot be terminated within sixty days.

Sentiment

Score: 3

Explanation: The filing indicates a complete divestment by the reporting entities, moving from a previously held position to 0% beneficial ownership. While a compliance filing, the exit of an institutional investor is generally a negative signal for the issuer's stock.

Positives

• The filing demonstrates compliance with SEC reporting requirements for institutional investors.

Negatives

• The reporting entities have reduced their beneficial ownership to 0%, indicating a complete divestment of their position in Horizon Space Acquisition II Corp.

Risks

• The reporting persons disclaim beneficial ownership, particularly where investment and voting discretion has been delegated to subadvisors, which could imply a lack of direct control or influence over the underlying assets by the named reporting persons.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the issuer's future performance or operations.

Management Comments

• "The filing of this report shall not be deemed an admission, for purposes of Section 13(f), 13(d), 13(g) or 16(a) of the Securities Exchange Act of 1934, as amended (the Exchange Act) or otherwise, that the Adviser, the Funds, Ari Glass or any other person has beneficial ownership of any securities reported herein."
• "Notwithstanding the inclusion of any security in this report, the Adviser, the Funds, and Ari Glass expressly disclaim beneficial ownership of any security reported herein, except to the extent of the Advisers, the Funds, or Ari Glasss pecuniary interest therein (if any), with respect to the Units which the Adviser has delegated sole investment and voting discretion to a Subadvisor and does not presently have the right to terminate such delegation within sixty days."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Industry Context

This is a routine compliance filing for institutional investors. A Schedule 13G is typically filed by passive investors who own less than 20% of a company's stock and do not intend to influence control. An amendment showing 0% ownership indicates a complete divestment or a reclassification of ownership that results in no beneficial ownership under the rules, often due to delegation of control to subadvisors. For SPACs like Horizon Space Acquisition II Corp., institutional investor activity (or lack thereof) can be closely watched, especially as they approach a business combination.

Stakeholder Impact

• Shareholders: The divestment by an institutional investor could be perceived negatively, potentially leading to downward pressure on the stock price if other investors follow suit or interpret it as a loss of confidence.

Key Dates

Recommendation

The filing indicates a complete divestment by Boothbay Fund Management and its affiliates, reducing their beneficial ownership to 0%. While a compliance filing, the exit of an institutional investor from a position, particularly in a SPAC, often signals a lack of confidence in the company's future prospects or its ability to execute its business combination successfully. This action suggests that the reporting entities no longer see value in holding the shares, which could prompt other investors to reconsider their positions.

Keywords

Horizon Space Acquisition II Corp, Boothbay Fund Management, Schedule 13G, beneficial ownership, SPAC, ordinary shares, G4627B129