Horizon Space Acquisition I closes $69M IPO; auditor cites going concern doubt

Horizon Space Acquisition I Corp.

IPO of 6,900,000 units at $10/unit; over-allotment fully exercised; gross proceeds $69,000,000.
Private placement of 385,750 units to sponsor at $10/unit for $3,857,500; total trust $70,207,500.
Audited balance sheet shows $889,636 cash, $704,187 working capital; auditor expresses substantial doubt about going concern.
Must complete initial business combination by September 27, 2023 (or extended to March 27, 2024 with deposits).

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