Hudson Acquisition I Corp. Receives Notification of Deficiency from Nasdaq Related to Delayed Annual Report on Form 10-K
25 April 2023 - 6:15AM
Hudson Acquisition I Corp. (the "Company" or "Hudson") (Nasdaq:
HUDA), announced today that it received a notice (the "Notice")
from the Listing Qualifications Department of the Nasdaq Stock
Market LLC ("Nasdaq") on April 19, 2023, indicating that the
Company is not currently in compliance with Nasdaq’s Listing Rules
(the "Listing Rules") due to the Company’s inability to timely file
its Form 10-K for the year ended December 31, 2022, (the "Form
10-K") with the Securities and Exchange Commission ("SEC").
Nasdaq has informed the Company that, under the Listing Rules,
the Company has 60 calendar days from receipt of the Notice, or no
later than June 20, 2023, to submit a plan to regain compliance
with the Listing Rules. If Nasdaq accepts the Company’s plan, then
Nasdaq may grant an exception of up to 180 calendar days from the
due date of the Form 10-K, or until October 16, 2023, to regain
compliance. However, there can be no assurance that Nasdaq will
accept the Company’s plan to regain compliance or that the Company
will be able to regain compliance within any extension period
granted by Nasdaq or maintain compliance with the other continued
listing requirements set forth in the Nasdaq Listing Rules. In the
event that Nasdaq does not accept the Company’s plan, the Company
will have the opportunity to appeal that decision to a Nasdaq
hearings panel.
The Company is working diligently to complete the Form 10-K. The
Company anticipates filing the Form 10-K as promptly as
practicable.
The Notice has no immediate impact on the listing or trading of
the Company's securities on Nasdaq.
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.Jiang
Hui Telephone: +1(347) 205-3126
Investor and Media Contact:International Elite
Capital Inc. Annabelle Zhang Telephone: +1(646) 866-7989Email:
annabelle@iecapitalusa.com
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