Hudson Acquisition I Corp. (HUDA) has released an update to notify the public and investors about material impairments.
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The Company was notified by its Sponsor on January 30, 2024, that it was unable to access funds from a promissory note to fulfill the monthly Trust Account contribution, with the last payment made on October 26, 2023. The Sponsor’s inability to provide funds was due to reasons not connected to the Company’s operations, though it reaffirmed its commitment to honor the note and intends to make the payment when possible.
For further insights into HUDA financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
