Hudson Acquisition I Corp. Announces Receipt of Notice from Nasdaq Regarding Late Filings of Annual Report on Form 10-K and Quarterly Report on Form 10-Q
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.
- HUDA's management is actively working to file overdue reports, indicating a proactive approach to resolving compliance issues.
- Nasdaq is offering a potential extension until October 14, 2024, which provides HUDA additional time to meet compliance requirements.
- HUDA is currently out of compliance with Nasdaq Listing Rule 5250(c)(1) due to delayed filings.
- Failure to file the necessary reports promptly may lead to further regulatory issues and potential delisting.
- The company has no assurances on the timing of regaining compliance, which could lead to investor uncertainty.
- Delayed filings may reflect underlying operational or financial reporting issues within the company.
NEW YORK, NY, June 17, 2024 (GLOBE NEWSWIRE) -- Hudson Acquisition I Corp. (the "Company" or "HUDA") (Nasdaq: HUDA), today announced that on May 30, 2024, the Company received a notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of the delinquency in the timely filing of the Company’s annual report on Form 10-K for the period ended December 31, 2023(the “10-K”), and the Company’s quarterly report on Form 10-Q for the period ended March 31, 2024 (the “10-Q”), the Company is out of compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the "SEC").
In accordance with Nasdaq’s listing rules, the Company has 60 calendar days after the date of the Notice to submit a plan to regain compliance with respect to the Delinquent Filings. If the plan is accepted by Nasdaq, the Company will have an exception of up to 180 calendar days from the Initial Delinquent Filing’s due date, or until October 14, 2024, to regain compliance.
The current notice will have no immediate effect on the listing or trading of the Company's common stock on the Nasdaq. While the Company can provide no assurances as to timing, the Company’s management is working diligently and plans to file the forms to regain compliance with the Listing Rule.
About Hudson Acquisition I Corp.
Hudson Acquisition I Corp. is a Delaware corporation incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region except that the Company will not consummate an initial business combination with any entity being based in or having the majority of its operations in China (including Hong Kong and Macau). The Company affirmatively excludes as an initial business combination with a target company of which financial statements are audited by an accounting firm that the United States Public Company Accounting Oversight Board is unable to inspect for two consecutive years beginning in 2021.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including the search for an initial business combination, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as may be required by law.
Company Contact:
Hudson Acquisition I Corp.
Pengfei Xie
Telephone: +1(917) 345-0953
Investor and Media Contact:
International Elite Capital Inc.
Annabelle Zhang
Telephone: +1(646) 866-7989
Email: annabelle@iecapitalusa.com
FAQ
Why did Hudson Acquisition I Corp. (HUDA) receive a notice from Nasdaq?
What is the deadline for HUDA to regain compliance with Nasdaq?
Will the notice from Nasdaq affect HUDA's stock trading?
What reports is HUDA late in filing?
How long can HUDA extend the deadline to file the delinquent reports?
What is Nasdaq Listing Rule 5250(c)(1)?
