Form 4: Horizon Space Acquisition II CEO Exits Post-Merger

CEO Mingyu Li files an exit Form 4 following the consummation of Horizon Space Acquisition II Corp.'s initial business combination.

Summary

• Mingyu Li, CEO and 10% owner of Horizon Space Acquisition II Corp. (HSPT), has ceased his roles as director and officer.
• The filing serves as an 'Exit' report following the completion of the company's initial business combination on June 12, 2026.
• The reporting person and the Sponsor (Horizon Space Acquisition II Sponsor Corp.) no longer hold more than 10% of the issued and outstanding ordinary shares of HSPT.
• The reporting person is no longer subject to Section 16 reporting requirements.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing marking the successful conclusion of a merger and the subsequent transition of leadership.

Positives

• Successful completion of the initial business combination as of June 12, 2026.

Negatives

• Departure of the Chief Executive Officer and loss of 10% ownership status by the Sponsor.

Risks

• Transition risk associated with the change in leadership and ownership structure following the business combination.

Future Outlook

The filing does not provide forward-looking financial guidance, as it is an exit report confirming the end of the reporting person's relationship with the issuer.

Management Comments

• The reporting person no longer serves as a director or officer of HSPT.
• The Sponsor no longer holds more than 10% of the issued and outstanding ordinary shares of HSPT.

Industry Context

StockSavvy.ai notes that this filing is typical for Special Purpose Acquisition Companies (SPACs) upon the successful completion of a de-SPAC transaction, where original sponsors and management often transition out of their roles.

Comparison to Industry Standards

• The exit of SPAC sponsors and management post-business combination is a standard industry practice following the completion of a merger.

Management Changes

Related Party Transactions

• Mingyu Li beneficially owned 50% of the Sponsor, which held securities of HSPT prior to the business combination.

Stakeholder Impact

• Shareholders should note the change in leadership and the reduction in the Sponsor's ownership stake.

Next Steps

• The company will continue operations under its new post-merger structure.

Key Dates

Keywords

HSPT, Horizon Space Acquisition II, Form 4, Business Combination, Insider Exit, SEC Filing