Aquaron Acquisition Issues Convertible Promissory Note

Aquaron Acquisition Corp. (AQU) has released an update to notify the public and investors about its financial commitment initiation.

Aquaron Acquisition Corp. has taken a strategic step to prolong its timeline for completing a business combination by issuing a $70,000 unsecured promissory note to Bestpath IoT Technology Ltd. This maneuver not only injects additional funds into Aquaron’s trust account but also comes with a perk for Bestpath: the option to convert the note into shares at $10.00 per unit, aligning with the terms of the company’s initial public offering.

For further insights into AQU financials, check out TipRanks’ Financials page.

For a comprehensive understanding of the announcement, you can read the full document here.