GlobeNewswire Inc. · Jan 3, 2024
Aquaron Acquisition Corp. Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination
NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Aquaron Acquisition Corp. (NASDAQ: AQU, the “Company”), a special purpose acquisition company, announced today that Bestpath IoT Technology Ltd. (“Bestpath”) has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $70,000, in order to extend the period of time the Company has to complete a business combination for one additional month, from January 6, 2024 to February 6, 2024. The Company issued a promissory note to Bestpath with a principal amount equal to the amount deposited. The promissory note bears no interest and is convertible into the Company’s shares of common stock at a price of $10.00 per unit (each unit is consisted of one share of common stock and one right to receive one-fifth (1/5) of a share of common stock) at the closing of a business combination by the Company. The purpose of the extension is to provide more time for the Company to complete a business combination.
