#United States #New York #Aquaron Acquisition #HUTURE Ltd. #business combination

Aquaron Acquisition Corp. Extends Business Combination Deadline

In a strategic move to secure a crucial partnership, Aquaron Acquisition Corp. (NASDAQ: AQU), a special purpose acquisition company (SPAC), has announced an additional contribution into its trust account to extend the deadline for completing its business combination. The extension allows more time for the company to finalize its deal with HUTURE Ltd., enhancing its capability to operate in the fast-evolving energy sector.

On February 6, 2025, Aquaron announced that HUTURE Ltd., a significant entity in its merger plans, deposited a total of $20,000 into Aquaron's trust account. This extra funding is intended to provide the necessary time to complete the business combination, moving the deadline from February 6 to March 6, 2025. The financial contribution comes in the form of a promissory note issued by Aquaron, which is non-interest bearing and allows Huture to convert the deposited amount into shares of Aquaron's common stock at a predetermined price of $10.00 per unit—each unit being composed of one share and another right to receive one-fifth of a share upon closing.

This decision is reflective of a broader strategy to ensure that the business combination with HUTURE Ltd. aligns with Aquaron's goals in the new energy sector. While the company does not confine itself to a specific industry or region when identifying its prospective target businesses, it is committed to ensuring the financial integrity of its transactions, thus avoiding companies under financial scrutiny or utilizing controversial operational structures, especially those involving China.

Aquaron Acquisition Corp. is a Delaware-based company incorporated with the objective of engaging in a merger, share exchange, asset acquisition, share purchase, recapitalization, or similar business combination with one or more businesses. The investment strategy emphasizes sustainability and innovation, particularly focusing on operational businesses that contribute positively to the energy transition.

As the deadline approaches, the SPAC landscape remains lively with numerous corporations vying to complete their business combinations amid various market uncertainties. The decision to extend the timeline allows Aquaron to navigate these complexities without being rushed into a decision that might not yield the best long-term results.

In future quarters, stakeholders and analysts will be closely monitoring how Aquaron's strategic maneuvers in the current market will unfold. The successful execution of the business combination with HUTURE could pave the way for robust growth and operational advancement in the burgeoning new energy landscape, which is rapidly gaining momentum in the global economy.

About Aquaron Acquisition Corp.

Founded as a blank check company, Aquaron aims to revolutionize the energy sector through insightful mergers. The company is on the lookout for promising businesses that align with its vision of sustainability while maintaining a cautious approach to its merger targets.

Forward-Looking Statements

This report includes forward-looking statements, which are inherently subject to risks and uncertainties. Future results may differ significantly due to various factors, and Aquaron emphasizes that it does not intend to publicly update any forward-looking statements unless legally obligated to do so.