Hudson Acquisition I Corp. (Nasdaq: HUDA) has announced a letter of intent (LOI) for a potential merger with a pre-clinical-stage biotechnology firm focused on developing intranasal preventives for respiratory viruses. The LOI outlines preliminary terms but is not binding, with the acquisition contingent on various factors including board approvals and satisfactory due diligence. The restructuring will see new executive appointments at Hudson. A definitive agreement is necessary before a registration statement on Form S-4 is filed with the SEC, which would include a Proxy Statement for stockholder approval. Completion of the deal, however, is uncertain.
Hudson Acquisition I Corp. (HUDA) has announced it has regained compliance with Nasdaq Listing Rule 5250(c)(1). This follows a notice of noncompliance received on December 9, 2022, due to the late filing of its quarterly report for Q3 2022. The company filed its 10-Q on December 21, 2022, which led to Nasdaq's confirmation of compliance on December 27, 2022. As a blank check company, HUDA aims to engage in business combinations across various industries, excluding entities with significant operations in China.
Hudson Acquisition I Corp. (HUDA) announced on December 9, 2022, that it is out of compliance with Nasdaq Listing Rule 5250(c)(1) due to the late filing of its quarterly report for Q3 2022. The company must submit a plan to regain compliance within 60 days, potentially receiving an extension until May 29, 2023, if accepted. Despite the notice, there will be no immediate impact on the trading of HUDA shares. Management is actively working to file the 10-Q as soon as possible.