Select Recalc. in the Space Inspector's Extent And Box panel to recalculate the Space extent from its contents. Applied transforms are not included in the recalculation.

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Note: After new data is imported, LiquidEarth asks whether you want to recalculate the Space extent. Select Recalculate to proceed or Cancel to keep the current extent.

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The confirmation shown after importing data, with options to recalculate the Space extent or cancel.

The Recalc. option in the Extent And Box panel.