Aquaron Announces Postponement of Annual Meeting
Aquaron Acquisition Corp. (OTCMKTS: AQUC) has announced the postponement of its Annual Meeting of Stockholders from 11:00 a.m. to 6:00 p.m. (Eastern Time) on Tuesday, May 6, 2025. The meeting will be held virtually via live audio webcast. The postponement comes after significant redemption activity, with holders of 757,365 out of 805,532 publicly held shares (94%) electing to redeem their shares for a pro rata portion of the trust account funds.
The record date remains April 2, 2025. Previously cast votes will remain valid unless stockholders choose to change them. The company's board unanimously recommends voting FOR the proposals outlined in the Definitive Proxy Statement filed on April 14, 2025.
Aquaron Acquisition Corp. (OTCMKTS: AQUC) ha annunciato il rinvio della sua Assemblea Annuale degli Azionisti, originariamente prevista per le 11:00, alle 18:00 (ora orientale) di martedì 6 maggio 2025. L'assemblea si terrà virtualmente tramite webcast audio in diretta. Il rinvio è dovuto a un'attività significativa di rimborso, con i detentori di 757.365 su 805.532 azioni pubbliche (94%) che hanno scelto di riscattare le loro azioni per una quota proporzionale dei fondi del conto fiduciario.
La data di riferimento rimane il 2 aprile 2025. I voti già espressi resteranno validi a meno che gli azionisti non decidano di modificarli. Il consiglio di amministrazione dell'azienda raccomanda all'unanimità di votare FAVOREVOLE alle proposte indicate nella Dichiarazione Definitiva del Proxy depositata il 14 aprile 2025.
Aquaron Acquisition Corp. (OTCMKTS: AQUC) ha anunciado el aplazamiento de su Junta Anual de Accionistas, que se había programado para las 11:00 a.m., a las 6:00 p.m. (hora del Este) del martes 6 de mayo de 2025. La reunión se llevará a cabo de forma virtual mediante una transmisión en vivo de audio. El aplazamiento se produce tras una actividad significativa de redención, con los titulares de 757,365 de 805,532 acciones públicas (94%) optando por redimir sus acciones por una parte proporcional de los fondos en la cuenta fiduciaria.
La fecha de registro permanece el 2 de abril de 2025. Los votos emitidos previamente seguirán siendo válidos a menos que los accionistas decidan cambiarlos. La junta directiva de la compañía recomienda unánimemente votar A FAVOR de las propuestas descritas en la Declaración Definitiva de Poder presentada el 14 de abril de 2025.
Aquaron Acquisition Corp. (OTCMKTS: AQUC)는 2025년 5월 6일 화요일 동부 표준시 기준 오전 11시에서 오후 6시로 연례 주주총회 일정을 연기한다고 발표했습니다. 회의는 라이브 오디오 웹캐스트를 통해 가상으로 진행됩니다. 이번 연기는 주주 환매 활동이 크게 증가한 데 따른 것으로, 공개 보유 주식 805,532주 중 757,365주(94%)의 주주가 신탁 계좌 자금의 비례 배분에 따라 주식을 환매하기로 선택했습니다.
기록일은 2025년 4월 2일로 유지됩니다. 이전에 투표한 내용은 주주가 변경하지 않는 한 유효합니다. 회사 이사회는 2025년 4월 14일 제출된 최종 위임장 설명서에 명시된 제안에 대해 만장일치로 찬성 투표할 것을 권고합니다.
Aquaron Acquisition Corp. (OTCMKTS : AQUC) a annoncé le report de son Assemblée Générale Annuelle des Actionnaires, initialement prévue à 11h00, à 18h00 (heure de l'Est) le mardi 6 mai 2025. La réunion se tiendra virtuellement via une webdiffusion audio en direct. Ce report fait suite à une importante activité de rachat, avec les détenteurs de 757 365 actions sur 805 532 en circulation (94 %) ayant choisi de racheter leurs actions contre une part proportionnelle des fonds du compte en fiducie.
La date d'enregistrement reste fixée au 2 avril 2025. Les votes déjà exprimés resteront valides sauf si les actionnaires décident de les modifier. Le conseil d'administration recommande à l'unanimité de voter POUR les propositions détaillées dans la déclaration de procuration définitive déposée le 14 avril 2025.
Aquaron Acquisition Corp. (OTCMKTS: AQUC) hat die Verschiebung seiner Jahreshauptversammlung der Aktionäre von 11:00 Uhr auf 18:00 Uhr (Eastern Time) am Dienstag, den 6. Mai 2025, bekannt gegeben. Die Versammlung wird virtuell per Live-Audio-Webcast abgehalten. Die Verschiebung erfolgt nach erheblicher Rücknahmetätigkeit, bei der Inhaber von 757.365 von 805.532 öffentlich gehaltenen Aktien (94 %) ihre Aktien gegen einen anteiligen Anteil der Treuhandkontomittel zurückgegeben haben.
Das Stichtagsdatum bleibt der 2. April 2025. Bereits abgegebene Stimmen bleiben gültig, sofern Aktionäre diese nicht ändern. Der Vorstand des Unternehmens empfiehlt einstimmig, den in der am 14. April 2025 eingereichten endgültigen Vollmachtsunterlage aufgeführten Vorschlägen ZUZUSTIMMEN.
- None.
- 94% of public shareholders (757,365 out of 805,532 shares) have elected to redeem their shares, indicating low confidence in the company's prospects
- Meeting postponement due to significant redemption activity suggests potential challenges in achieving shareholder approval
Insights
94% of Aquaron's public shares electing to redeem signals severe capital depletion and drastically limited options for this SPAC.
The 757,365 of 805,532 publicly held shares (
For context, while SPAC redemptions have generally increased across the market, rates exceeding
The unusual same-day postponement (shifting from 11:00 AM to 6:00 PM) rather than a longer rescheduling suggests urgency in addressing this situation. This timing decision indicates the company still intends to proceed with its planned agenda despite the redemption crisis.
For any shareholders who haven't elected to redeem, this development fundamentally changes their investment position. The SPAC will have significantly diminished financial resources to execute any transaction, potentially making it difficult to meet minimum cash requirements typically specified in business combination agreements.
This level of redemption activity effectively undermines the SPAC's core purpose of having sufficient capital to complete a meaningful acquisition, placing Aquaron in an extremely challenging position with limited viable paths forward.
Mass shareholder exodus creates concerning governance imbalance as voting power concentrates among remaining investors.
The postponement of Aquaron's Annual Meeting in response to
This redemption situation fundamentally transforms the company's shareholder composition. When nearly all public shareholders exit, voting power becomes heavily concentrated among sponsors and any remaining committed investors. This concentration creates potential governance imbalances where proposals might pass with limited public shareholder input.
The timing is particularly noteworthy - postponing by just 7 hours rather than days or weeks suggests the board intends to proceed with its agenda despite this dramatic shift in shareholder base. This approach raises questions about whether the proposals being considered have been reassessed in light of the company's dramatically altered financial position.
The press release emphasizes that previously cast votes remain valid unless changed, and continues to urge participation. However, with such a substantial portion of shareholders effectively signaling their intent to exit, the voting dynamics have fundamentally changed.
For governance purposes, the 757,365 share redemption elections represent a clear vote of no-confidence in the company's current direction, creating challenging circumstances for board decision-making and significantly constraining future strategic options.
Meeting to Now be Held on Tuesday, May 6, 2025 at 6:00 p.m. Via Live Audio Webcast
NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Aquaron Acquisition Corp. (“Aquaron” or the “Company”) (OTCMKTS: AQUC), a publicly traded special purpose acquisition company, today announced that its Annual Meeting of Stockholders (the “Annual Meeting”), originally scheduled for Tuesday, May 6, 2025 at 11:00 a.m. (Eastern Time), has been postponed. The Annual Meeting is now scheduled to be held on Tuesday, May 6, 2025 at 6:00 p.m. (Eastern Time) and will still be held virtually via live audio webcast at www.cleartrustonline.com/aqu.
The record date for the Annual Meeting, April 2, 2025, remains unchanged and applies to the postponed Annual Meeting.
By the redemption deadline for the Annual Meeting, holders of 757,365 of the 805,532 publicly held shares of the Company’s common stock had properly elected to redeem their shares for a pro rata portion of the funds in the Company’s trust account. The Annual Meeting has been postponed in light of this significant redemption activity.
Stockholders who have already cast their votes do not need to take any action, unless they wish to change or revoke their prior proxy or voting instructions, and their votes will be counted at the postponed Annual Meeting. For stockholders who have not yet cast their votes, we urge them to vote their shares now, so they can be tabulated prior to the postponed Annual Meeting.
The Company’s board of directors unanimously recommends that you vote FOR the proposals identified in the Company’s Definitive Proxy Statement for the Annual Meeting.
Important Additional Information
Information with respect to the proposals to be considered at the Annual Meeting and instructions on how to vote can be found in the Definitive Proxy Statement filed by the Company with the U.S. Securities and Exchange Commission on April 14, 2025 with respect to the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY THE COMPANY AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Stockholders may obtain a copy of the Proxy Statement at the SEC’s web site www.sec.gov.
If a stockholder has any questions about submitting a proxy or requires assistance, please contact Aquaron proxy solicitor, ClearTrust, at 813.235.4490 (call collect), or by sending an email to inbox@cleartrusttransfer.com.
Whether or not stockholders plan to attend the postponed Annual Meeting online, we urge you to vote your shares as described in the Definitive Proxy Statement for the Annual Meeting. It is important that every stockholder’s shares be represented at the Annual Meeting regardless of the number of shares held. The Company urges stockholders to please consider the issues presented in the Definitive Proxy Statement for the Annual Meeting and promptly vote the stockholder’s shares to ensure that such shares are represented at the Annual Meeting. Submitting a proxy now will not prevent a stockholder from voting the stockholder’s shares at the postponed Annual Meeting if the stockholder desires to do so, as a proxy is revocable at the stockholder’s option.
About Aquaron
Aquaron is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
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
yizhou@aquaroncorp.com
Aquaron Acquisition Corp.
FAQ
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