Welcome to our dedicated page for Hudson Acquisition I news (Ticker: HUDA), a resource for investors and traders seeking the latest updates and insights on Hudson Acquisition I stock.
Hudson Acquisition I Corp. (NASDAQ: HUDA) is a Delaware-based blank check company founded for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company’s goal is to identify and merge with a promising target business, enhancing its value and providing growth opportunities.
Current Operations and Key Developments:
- Nasdaq Compliance: Recently, Hudson received notices from Nasdaq indicating non-compliance with certain listing rules due to the delayed filing of required periodic reports and failure to meet the minimum Market Value of Listed Securities (MVLS). Despite this, the management is actively working to regain compliance by the respective deadlines. Additionally, Hudson has engaged UHY LLP as its new independent registered public accounting firm to streamline its financial reporting.
- Strategic Partnerships: The company has announced a significant business combination with Aiways Automobile Europe GmbH, an innovative electric vehicle company. This de-SPAC transaction, expected to close by the end of 2024, will integrate Aiways Europe into Hudson, marking a substantial step in establishing a strong presence in the European EV market. This merger aims to provide Aiways with efficient growth capital and align it closely with European design concepts while Hudson shareholders will become minority and non-controlling shareholders in the combined entity.
Forward-Looking Statements: The company frequently makes forward-looking statements regarding its business combinations, operational improvements, and compliance efforts. These statements are subject to risks and uncertainties, which could cause actual results to differ. Hudson Acquisition I Corp. is committed to transparency and regular updates to shareholders regarding its strategic initiatives and compliance status.
Hudson Acquisition I Corp. (HUDA) and Aiways Automobile Europe GmbH have signed a definitive Business Combination Agreement to form EUROEV Holdings . The transaction values Aiways Europe at $410 million pre-combination. Based in Munich, Aiways Europe specializes in BEVs for the European market, having sold approximately 6,000 vehicles since 2020. The company plans to begin local production in Europe by 2025 and has signed MoUs for light vehicles and vans supply contracts. The combined entity will be listed on Nasdaq, pending shareholder and regulatory approvals.
Hudson Acquisition I Corp. (HUDA) has received a delisting notice from Nasdaq due to multiple non-compliance issues with continued listing requirements. The company faces potential delisting on August 1, 2024, unless it successfully appeals. Key issues include:
1. Market value below $50 million
2. Insufficient publicly held shares
3. Low market value of publicly held shares
4. Failure to meet alternative listing criteria
5. Late filing of financial reports
HUDA has taken immediate action, including filing overdue reports, applying for transfer to Nasdaq Capital Market, and requesting a hearing. The company is preparing a compliance plan and seeking an extension for continued listing.
Hudson Acquisition I Corp. (HUDA) received a notice from Nasdaq on May 30, 2024, due to delays in filing its annual report (Form 10-K) for the year ended December 31, 2023, and its quarterly report (Form 10-Q) for the period ended March 31, 2024. This delay results in non-compliance with Nasdaq's Listing Rule 5250(c)(1), which mandates timely filing of periodic reports with the SEC. HUDA has 60 days from the notice date to submit a plan to regain compliance. If accepted, they can extend the deadline to October 14, 2024. The notice currently does not affect HUDA's Nasdaq listing or trading. The management aims to file the required forms promptly to resolve the issue.
On May 14, 2024, Hudson Acquisition I Corp. (NASDAQ: HUDA) announced a letter agreement with Aiways Automobile Europe GmbH for a business combination. This de-SPAC transaction values Aiways Europe at approximately $400 million. The deal is expected to close by December 31, 2024, resulting in HUDA shareholders becoming minority, non-controlling shareholders in the merged entity. The combination aims to enhance Aiways Europe's growth in the European EV market, leveraging HUDA's resources and alignment with European design trends. Key executives from both companies expressed optimism about the strategic benefits and future growth prospects of the merger.
Hudson Acquisition I Corp. (Nasdaq: HUDA) announced on April 24, 2023, that it has received a notice from Nasdaq regarding non-compliance with its Listing Rules due to the delay in filing its Form 10-K for the year ended December 31, 2022. The notice, received on April 19, 2023, gives Hudson 60 days to submit a compliance plan, with an extension possibility up to 180 days if accepted. However, Nasdaq does not guarantee acceptance of the plan or a successful compliance outcome. The Company is working to file the Form 10-K as soon as possible. Importantly, this notice does not impact the current trading of Hudson's securities on Nasdaq.
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