Hudson (NYSE:HUD) Acquisition I Corp. (NASDAQ:HUDA), a special purpose acquisition company, has announced an amendment to its corporate charter extending the deadline to complete a business combination. The company's stockholders approved the extension during a special meeting held on Monday, allowing the company to push the deadline from January 18, 2025, to October 18, 2025.
The extension does not require Hudson Acquisition I Corp. to make additional monthly deposits into its trust account, a change that took effect on July 5, 2024. This move provides the company with more time to identify and finalize a merger or acquisition, which is a common practice for companies structured as blank check entities.
During the special meeting, stockholders also voted in favor of an amendment to the company's Second Amended and Restated Certificate of Incorporation. This amendment adds a definition of IPO Rights and modifies the language regarding the sale of shares and rights to the corporation through a tender offer. The adjournment proposal, which would allow the meeting to be postponed to secure more votes if necessary, was also approved.
The decision to extend the timeline indicates Hudson Acquisition I Corp.'s ongoing efforts to find a suitable business combination partner. The company, incorporated in Delaware and headquartered in New York, has not yet announced any potential acquisition targets.
The special meeting saw a high turnout, with approximately 98% of the eligible stock represented in person or by proxy. The votes for the amendments were unanimous, with 2,150,000 votes in favor and none against or abstaining.
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