Hudson Acquisition I Corp. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of its Form 10-Q
30 May 2023 - 11:00PM
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 May 23, 2023, indicating that the Company
is currently not in compliance with Nasdaq's Listing Rules (the
"Listing Rules") due to the delayed filing of its Form 10-Q for the
period ended March 31, 2023, as well as the pending filing of its
10-K for the period ended December 31, 2022 (the “Initial
Delinquent Filing”), with the Securities and Exchange Commission
("SEC").
As per the Listing Rules, Nasdaq has granted the Company until
June 20, 2023, to submit a plan outlining its strategy to regain
compliance. Upon acceptance of the Company's plan, Nasdaq may
provide an exception of up to 180 calendar days from the due date
of the Initial Delinquent Filing, or until October 16, 2023, for
the Company to regain compliance. However, the acceptance of the
plan by Nasdaq and the subsequent compliance within any extension
period granted cannot be guaranteed. Additionally, the Company must
continue to meet other continued listing requirements specified in
the Nasdaq Listing Rules. Should Nasdaq reject the Company's plan,
the Company retains the right to appeal the decision to a Nasdaq
hearings panel.
To rectify the situation promptly, the Company has decided to
replace its former auditor due to significant concerns related to
the level of customer service received and is proactive in engaging
a new auditor. Simultaneously, the Company is diligently working
towards completing the required Form 10-Q and 10-K filings and
intends to submit both forms as soon as practicable, thereby
regaining compliance with the Listing Rules.
It is important to note that the Notice has no immediate impact
on the listing or trading of the Company's securities on Nasdaq.
Hudson Acquisition I Corp. remains committed to transparency and
regulatory compliance and will provide timely updates on its
progress.
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 StatementsThis 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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