Hudson Acquisition I Corp. reported its financial results for the second quarter of 2025, revealing a net loss of $360,472, a significant increase from a loss of $108,631 in the same period of the previous year. The company’s operating expenses for the first half of 2025 totaled $395,266, down from $469,509 in the first half of 2024, indicating a reduction in general and administrative costs. The company generated $22,793 in interest income from marketable securities held in its Trust Account, a sharp decline from $549,587 in the prior year, reflecting lower interest rates and market conditions.
As of June 30, 2025, Hudson Acquisition's total assets amounted to $1,149,167, a decrease from $1,257,679 at the end of 2024. The company’s current liabilities increased to $4,791,528 from $4,532,834, primarily due to higher accounts payable and accrued liabilities, which rose to $717,646 from $507,373. The accumulated deficit also widened to $7,306,080, compared to $6,928,814 at the end of 2024, reflecting ongoing operational losses.
Strategically, Hudson Acquisition has been focused on completing its Initial Business Combination with Aiways Automobile Europe GmbH, a company engaged in developing electric vehicles. The Business Combination Agreement was executed on November 22, 2024, and the company is currently in the process of finalizing this transaction. The company has also extended the deadline for completing its Initial Business Combination multiple times, with the latest extension allowing until July 18, 2026, to finalize the deal.
Operationally, Hudson Acquisition has faced challenges, including a working capital deficit of $4,786,528 as of June 30, 2025. The company has not generated any operating revenues since its inception and relies on interest income from its Trust Account. The company’s cash position outside the Trust Account is nil, which raises concerns about its ability to fund operations and pursue its acquisition strategy without additional financing. The company has indicated that it may seek loans or additional investments from its sponsor or other parties to meet its working capital needs.
Looking ahead, Hudson Acquisition's management remains focused on completing the Business Combination with Aiways and addressing its liquidity challenges. The company acknowledges the uncertainties surrounding market conditions and the potential impact of geopolitical events on its operations. If the Business Combination is not completed by the extended deadline, the company may face mandatory liquidation, which raises substantial doubt about its ability to continue as a going concern.
About Hudson Acquisition I Corp.
Hudson Acquisition I Corp. is a blank check company focused on identifying and completing a merger or acquisition with a U.S.-based technology business. It leverages management’s industry experience, broad network, and deal sourcing capabilities to target established, scalable companies with strong market presence and growth potential. The company aims to provide a streamlined, cost-effective path for private businesses to go public through a business combination.
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