Aquaron Acquisition filed a proxy seeking a deadline extension up to May 6, 2025 as it continues working to complete a deal with Bestpath (Shanghai) IoT Technology Co., Ltd. Aquaron shareholders last June approved an extension that expires next month.
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 has said it intends to raise additional funding for the Bestpath acquisition via PIPE subscriptions. Read more.
