Aquaron Acquisition Corp. (AQUC) accepts $16,198 convertible note to extend SPAC timeline

Rhea-AI Filing Summary

Aquaron Acquisition Corp. issued an unsecured promissory note for $16,198.05 to HUTURE Ltd. on April 6, 2026 to extend the time to complete a business combination. The Note carries no interest, matures upon closing of a business combination, and is convertible into units at $10.00 per unit.

Each convertible unit consists of one share of common stock and a right to receive one-fifth of a share of common stock, matching the form of securities issued in the company’s IPO.

Insights

Corporate Finance Specialist

Small bridge funding extends SPAC search window without interest.

The $16,198.05 unsecured note provides a modest cash inflow to the trust account specifically to extend the period available to complete a business combination. The convertible feature ties conversion economics to the IPO unit structure at $10.00 per unit.

Cashflow is minimal in scale; the note bears no interest and matures on closing. Future filings will reflect whether conversion occurs or the note is repaid at combination closing.

Securities & Transaction Counsel

Conversion mirrors IPO unit terms; legal mechanics are routine for SPAC extensions.

The note’s conversion into units identical to IPO units (one share plus a right to one-fifth of a share) preserves consistency with prior equity instruments. The instrument is unsecured and conditioned on a business combination closing.

Qualifiers: conversion price and maturity are explicit. Any additional material terms or holder identity implications will appear in subsequent disclosures if exercised or settled.

Key Figures

Promissory note amount: $16,198.05 Conversion price: $10.00 per unit Unit composition: 1 share + right to 1/5 share +2 more

5 metrics

Promissory note amount $16,198.05 aggregate principal amount issued April 6, 2026

Conversion price $10.00 per unit price for converting the Note into units identical to IPO units

Unit composition 1 share + right to 1/5 share each unit consists of one share and a right to receive one-fifth of a share

Interest 0% (no interest) Note does not bear interest

Maturity Matures on closing matures upon closing of a business combination

Key Terms

promissory note, trust account, unit (IPO unit), convertible into units

4 terms

promissory note financial

"issued an unsecured promissory note in the aggregate principal amount"

A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.

trust account regulatory

"Huture depositing such amount into the Company’s trust account"

A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.

unit (IPO unit) financial

"each unit is consisted of one share of common stock and one right to receive one-fifth"

convertible into units financial

"may be converted by the holder into shares of common stock of the Company identical to the common stock issued in the Company’s initial public offering"

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

April 6, 2026

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: None 

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 1.01. Entry into a Material Definitive Agreement.

The disclosure contained in Item 2.03 is incorporated by reference in this Item 1.01

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On April 6, 2026, Aquaron Acquisition Corp. (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $16,198.05 (the “Note”) to HUTURE Ltd. (“Huture”) in exchange for Huture depositing such amount into the Company’s trust account in order to extend the amount of time it has available to complete a business combination. The Note does not bear interest and mature upon closing of a business combination by the Company. In addition, the Note may be converted by the holder into shares of common stock of the Company identical to the common stock issued in the Company’s initial public offering at a price of $10.00 per unit (each unit is consisted of one share of common stock and one right to receive one-fifth (1/5) of a share of common stock).

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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: April 7, 2026

AQUARON ACQUISITION CORP.

By:	/s/ Yi Zhou
Name:	Yi Zhou
Title:	Chief Executive Officer

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FAQ

What did Aquaron Acquisition Corp. (AQUC) file on April 6, 2026?

Aquaron filed an 8-K reporting an unsecured promissory note for $16,198.05 from HUTURE Ltd. The note extends time to complete a business combination and is convertible into units at $10.00 per unit.

How does the promissory note convert into equity for AQUC?

The holder may convert the note into units at $10.00 per unit. Each unit consists of one common share and a right to receive one-fifth of a share, matching the company’s IPO unit structure.

Does the promissory note pay interest or have a maturity date?

The note does not bear interest and matures upon the closing of a business combination. There is no stated cash interest expense for the note in the disclosed terms.

Who provided the note and where were funds deposited?

HUTURE Ltd. issued the note and deposited $16,198.05 into the company’s trust account to extend the time available to complete a business combination, per the disclosure.