Hudson Acquisition I in a proxy filing called a June 25 meeting for shareholders to vote on an extension proposal. The SPAC’s current deadline is January 2025, although Hudson I wants to push the completion date back to October of next year. Further, the proposal would stop monthly deposits into trust as of this month.
The SPAC last month signed a letter agreement with EV maker Aiways Automobile Europe for a business combination. The shareholders of Aiways Europe will receive newly issued shares of HUDA common stock at an equity valuation of approximately $400 million.
Aiways Europe is an asset-light automotive company that offers electric vehicles specifically customized for the demand of the European markets. Aiways Europe is recognized in Europe and Israel with two European product definition models, both certified by the Whole Vehicle Type- Approval System (WVTA). Aiways sells products across 20 countries and regions via its omni-channel go-to-market strategy.
The extension proxy does not mention Aiways. Read more.
