M&A - Hudson Acquisition I Corp.

Form Type: 10-Q

Filing Date: 2025-07-15

Corporate Action: Merger

Type: Update

Accession Number: 000121390025064311

Filing Summary: Hudson Acquisition I Corp., incorporated in Delaware, is filing its quarterly report for the period ended March 31, 2025. The company is engaged in efforts to complete a merger with Aiways Automobile Europe GmbH, a development-focused electric vehicle company, following the signing of a Business Combination Agreement on November 22, 2024. The report highlights financial statements showing a current working capital deficit of $4,708,038 and an accumulated deficit totaling $7,219,871. The extended time to effect the merger has been amended following stockholder approvals in special meetings held throughout 2023 and 2024, allowing the company to stretch the deadline for business combinations until October 18, 2025. Key financials indicate a total assets value of $1,161,927 and total liabilities of $7,468,476, emphasizing fiscal challenges alongside ongoing operational and investment strategies. The company has outlined provisions for redeeming public shares and anticipates utilizing trust account funds for future business combinations. Overall, despite ongoing challenges, Hudson Acquisition I Corp. is progressing towards a significant merger.