Financial Obligation (Form 8-K)

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On October 6, 2025, Aquaron Acquisition Corp. (the "Company") issued an unsecured promissory note in the aggregate principal amount of $16,198.05 (the "Note") to HUTURE Ltd. ("Huture") in exchange for Huture depositing such amount into the Company's trust account in order to extend the amount of time it has available to complete a business combination. The Note does not bear interest and mature upon closing of a business combination by the Company. In addition, the Note may be converted by the holder into shares of common stock of the Company identical to the common stock issued in the Company's initial public offering at a price of $10.00 per unit (each unit is consisted of one share of common stock and one right to receive one-fifth (1/5) of a share of common stock).