Hydrogen firm Huture to go public via merger with Aquaron Acquisition Corp, valuing combined company at $1 billion.

Hydrogen energy firm Huture is set to go public in the US through a merger with blank-check firm Aquaron Acquisition Corp (AQU.O), a deal that would value the combined company at $1 billion. The merger is expected to be completed later this year and Huture plans to trade on the Nasdaq. Current shareholders of Huture will retain a majority in the merged company. The SPAC market has been negatively impacted by poor financial performance and regulatory crackdown by the U.S. securities regulator. High profile SPAC investors William Ackman and Chamath Palihapitiya have recently announced plans to return money to shareholders after failing to find suitable merger targets.