Aquaron Acquisition Corp. announced a private placement that it has issued an unsecured convertible promissory note in the aggregate principal amount of $210,000 on October 3, 2023. The transaction included participation from returning investor, Bestpath (Shanghai) IoT Technology Co., Ltd. The Note does not bear interest and mature upon closing of a business combination by the company.

The promissory note bears no interest and is convertible into the Company?s shares of common stock at a price of $10.00 per unit at the closing.