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

Rhea-AI Filing Summary

Aquaron Acquisition Corp. issued an unsecured promissory note for $16,198.05 to HUTURE Ltd. on March 6, 2026 to extend the time to complete a business combination. The Note bears no interest, matures upon the closing of a business combination, and is convertible into the Company’s IPO-style units at $10.00 per unit (each unit consisting of one share of common stock and one right to receive one-fifth of a share).

Insights

Corporate Finance Analyst

Small bridge financing to extend SPAC life.

The filing shows an unsecured, non‑interest-bearing promissory note of $16,198.05 provided by HUTURE Ltd. to keep the trust account funded while the company seeks a business combination. The instrument converts into units at $10.00 per unit.

Because the amount is modest relative to typical transaction sizes, the near‑term financial impact appears limited; subsequent filings will disclose any conversion and closing effects.

Securities Counsel

Convertible note includes standard SPAC extension mechanics.

The Note matures on the closing of a business combination and is convertible into the same unit structure used in the IPO, matching the filing text. The absence of interest and the conversion feature are explicitly stated.

Monitor future disclosures for any conversion, related party details, or amendments that could affect capitalization or disclosures required under SEC rules.

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

March 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 March 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: March 9, 2026

AQUARON ACQUISITION CORP.

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

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FAQ

What did Aquaron (AQUC) disclose about the HUTURE note?

The company disclosed an unsecured promissory note of $16,198.05 from HUTURE Ltd.. The Note bears no interest and matures upon closing of a business combination, per the filing dated March 6, 2026.

Can the HUTURE note convert into Aquaron (AQUC) shares?

Yes. The holder may convert the Note into units at a conversion price of $10.00 per unit, where each unit consists of one share of common stock and one right to receive one-fifth of a share, as stated in the filing.

Does the HUTURE note pay interest or have a fixed maturity date?

No. The filing states the Note does not bear interest and does not specify a fixed calendar maturity; it matures upon the closing of a business combination by the company, according to the disclosure.

What is the purpose of the promissory note to HUTURE?

The filing states the note was issued so HUTURE would deposit $16,198.05 into Aquaron’s trust account to extend the time available to complete a business combination, per the March 6, 2026 disclosure.