Aquaron Acquisition in an 8-K said its merger target, Bestpath, deposited $70,000 into the SPAC’s trust so the blank-check company can continue operating another month. The new deadline is Feb. 6. Under its current operating documents, the SPAC’s extension period runs out in May.
Bestpath develops hydrogen fuel cell powered vehicles in China.
At announcement in March 2023 the deal had an initial equity value of approximately $1.2 billion.
Bestpath develops hydrogen fuel cell powered vehicles in China.
Aquaron raised $50 million in an October IPO to focus on companies in the new energy sector. Aquaron intends to raise additional funding for the Bestpath acquisition via one or more PIPE subscriptions. Read more.
