Hudson Acquisition I Corp. signs letter agreement for de-SPAC with Aiways Europe at ~$400M equity value

Hudson Acquisition I Corp.

SPAC HUDA and Aiways Automobile Europe GmbH enter Letter Agreement for business combination (de-SPAC).
Equity valuation of approximately $400 million; HUDA shares issued at $10.00 per share without Rights or Warrants.
Expected closing on or around December 31, 2024; term of agreement ends January 18, 2025.
Upon consummation, HUDA shareholders become minority, non-controlling shareholders in combined entity.
Aiways Europe's Managing Director cites access to growth capital and alignment with European design concepts.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hudson Acquisition I Corp. entered into Letter Agreement with Aiways Automobile Europe GmbH (effective 2024-05-14).

Action: entry
Agreement: merger
Counterparty: Aiways Automobile Europe GmbH
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, Hudson Acquisition I Corp. (the “SPAC” or “HUDA”) set forth the terms of a business combination transaction (the “de-SPAC”), between HUDA and Aiways Automobile Europe GmbH (the “Company”) via a Letter Agreement.

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Source: SEC EDGAR

accession 0001213900-24-044377

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