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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
May 28, 2024 (May 22, 2024)
Date of Report (Date of earliest event reported)
Aquaron Acquisition Corp.
(Exact Name of Registrant as Specified in its Charter)
Delaware |
|
001-41470 |
|
86-2760193 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
515 Madison Ave. 8th Floor
New York NY |
|
10022 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number,
including area code: (646) 970-2181
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock |
|
AQU |
|
The Nasdaq Stock Market LLC |
Rights |
|
AQUNR |
|
The Nasdaq Stock Market LLC |
Units |
|
AQUNU |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On May 22, 2024, Aquaron Acquisition Corp. (the “Company”)
received a written notice (the “Notice”) from the Listing Qualifications staff (the “Staff”) of The Nasdaq Stock
Market LLC (“Nasdaq”), notifying the Company that it currently does not satisfy Listing Rule 5250(c)(1), as a result of not
having timely filed with the U.S. Securities and Exchange Commission (the “Commission”) its Form 10-Q for the period ended
March 31, 2024 (the “Form 10-Q”).
The Notice is a notification of deficiency, not of imminent delisting,
and has no immediate effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market.
The Company has 60 calendar
days from the date of the Notice, or until July 22, 2024, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing
Rule 5250(c)(1). If the Company submits a plan to Nasdaq and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar
days from the due date of the filing of the Form 10-Q, or until November 18, 2024, to regain compliance. If the Company does not
regain compliance within the allotted compliance periods, including any extensions that may be granted by Nasdaq, Nasdaq will provide
notice that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination
to a Nasdaq hearings panel.
The Company’s objective
is to regain compliance with the listing requirement, and the Company currently intends to file the Form 10-Q with the Commission as soon
as it completes the preparation and review of its financial statements for the period ended March 31, 2024.
On
May 27, 2024, the Company issued a press release announcing its receipt of the Notice from Nasdaq. A copy of the press release is attached
hereto as Exhibit 99.1 and is incorporated by reference herein.
Forward-Looking Statements
This Form 8-K contains certain “forward-looking statements”
within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical
fact contained in this Form 8-K are forward-looking statements. Some of these forward-looking statements can be identified by the use
of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,”
“anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,”
“could,” “would,” “continue,” or the negatives of these terms or variations of them or similar expressions.
All forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements. For example, there can be no assurance that the Company will regain
compliance with the Minimum Public Holders Rule or otherwise meet Nasdaq compliance standards, that Nasdaq will grant the Company any
relief from delisting as necessary or that the Company can ultimately meet applicable Nasdaq requirements for any such relief. All forward-looking
statements are based upon estimates, forecasts and assumptions that, while considered reasonable by the Company and its management, are
inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are
not limited to the risks and uncertainties set forth under the sections entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December, 31, 2022, which
was filed with the SEC on March 30, 2023, and the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023,
which was filed with the SEC on November 14, 2023, as such factors may be updated from time to time in the Company’s filings with
the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements. You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made and the Company does not undertake any duty to update these forward-looking statements,
except as otherwise required by law.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 28, 2024
AQUARON ACQUISITION CORP. |
|
|
|
|
By: |
/s/ Yi Zhou |
|
Name: |
Yi Zhou |
|
Title: |
Chief Executive Officer |
|
2
Exhibit 99.1
Aquaron Acquisition Corp. Announces Receipt
of Delinquency Notice from Nasdaq Regarding Delayed Form 10-Q
NEW YORK, May 27, 2024 /PRNewswire/ -- Aquaron
Acquisition Corp. (NASDAQ: AQU, the “Company”), a special purpose acquisition company, announced today that
on May 22, the Company received a written notice (the “Notice”) from the Listing Qualifications staff (the “Staff”)
of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that it currently does not satisfy Listing Rule 5250(c)(1),
as a result of not having timely filed with the U.S. Securities and Exchange Commission (the “Commission”) its Form 10-Q for
the period ended March 31, 2024 (the “Form 10-Q”).
The Notice is a notification of deficiency, not of imminent delisting,
and has no immediate effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market.
The Company has 60 calendar
days from the date of the Notice, or until July 22, 2024, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing
Rule 5250(c)(1). If the Company submits a plan to Nasdaq and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar
days from the due date of the filing of the Form 10-Q, or until November 18, 2024, to regain compliance. If the Company does not
regain compliance within the allotted compliance periods, including any extensions that may be granted by Nasdaq, Nasdaq will provide
notice that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination
to a Nasdaq hearings panel.
The Company’s objective is to regain compliance
with the listing requirement, and the Company currently intends to file the Form 10-Q with the Commission as soon as it completes the
preparation and review of its financial statements for the period ended March 31, 2024.
About Aquaron Acquisition Corp.
Aquaron Acquisition 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, although it intends to focus on operating businesses
in the new energy sector. The Company affirmatively excludes as an initial business combination target any 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 and any target company with China operations consolidated through a VIE structure.
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
are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. 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.
Yi Zhou
Aquaron Acquisition Corp.
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