#United States #New York #Aquaron Corp #Huture Ltd #Trust Account

Aquaron Acquisition Corp. Extends Its Trust Account Period

New York, January 6, 2025 – Aquaron Acquisition Corp., a special purpose acquisition company trading under NASDAQ symbol AQU, has recently made headlines with an important announcement regarding its merger plans. The company disclosed that HUTURE Ltd. has deposited a total of $20,000 into its trust account, enabling Aquaron to extend the deadline for completing a business combination. This extension moves the timeline from January 6, 2025, to February 6, 2025, granting the company an additional month to finalize negotiations.

As a part of this financial arrangement, Aquaron issued a promissory note to Huture, reflecting the deposit amount. Notably, the note bears no interest and may be converted into Aquaron's common stock at a price of $10.00 per unit once a business combination is achieved. Each unit consists of one share of common stock and a right to receive one-fifth of another share. The primary goal of the extension is to allow additional time for the company to close a business combination with a target entity.

About Aquaron Acquisition Corp.

Aquaron Acquisition Corp. is established as a blank check company based in Delaware, primarily focusing on mergers, share exchanges, and similar business combinations. While the company emphasizes that it is not confined to any specific sector or geographic region, its objective is to pursue opportunities predominantly within the new energy industry. Additionally, Aquaron has set clear exclusions for potential target companies, namely those audited by firms that have not been inspected by the U.S. Public Company Accounting Oversight Board (PCAOB) for two consecutive years, starting from 2021, and those with Chinese operations consolidated via a Variable Interest Entity (VIE) structure.

Importance of Extensions in Business Combinations

In the world of special purpose acquisition companies (SPACs), acquiring companies often face strict deadlines by which they need to finalize their business combinations. Extensions like the one announced by Aquaron are pivotal as they provide crucial breathing space in negotiations, allowing for exploration of more favorable business terms or identification of suitable target companies. Such extensions are common in the SPAC ecosystem, revealing the complexities involved in merging operations and aligning corporate goals.

Looking Ahead

As Aquaron proceeds with its extended timeline, the upcoming month will be critical in determining whether it can successfully identify and close a business combination that aligns with its strategic objectives. Should the company complete this process successfully, the financial backing from Huture could facilitate a smooth transition into a new operational phase and provide significant growth opportunities in the competitive new energy landscape.

This announcement marks a significant milestone for Aquaron Acquisition Corp. and constitutes an encouraging signal for investors and stakeholders monitoring the evolution and strategies of SPACs in the current market.

Through its active pursuit of opportunities and collaborations, Aquaron poised to strengthen its position in the evolving landscape of business acquisitions, adding to the ever-expanding portfolio of SPAC-led ventures. As they move forward, investors and interested parties will be keenly watching to see if this extension leads to fruitful results for Aquaron and its partners.