PowerUp Acquisition enters non-redemption deal to secure 150K shares for extension vote

Aspire Biopharma Holdings, Inc.

Third party agreed not to redeem 150,000 Class A ordinary shares at extraordinary general meeting for extension approval.
Sponsor will transfer 75,000 Class B ordinary shares to investor after completion of an initial business combination.
Proposed extension moves deadline from May 23, 2023 to May 23, 2024 for initial business combination.
Agreement does not increase likelihood of extension approval but retains funds in trust account.

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

Aspire Biopharma Holdings, Inc. entered into Non-Redemption Agreement and Assignment of Economic Interest with unaffiliated third party (effective 2023-04-27).

Action: entry
Counterparty: unaffiliated third party
Effective: 2023-04-27

Exact text from the filing

On April 27, 2023, PowerUp Sponsor LLC (the “ Sponsor ”), the sponsor of PowerUp Acquisition Corp. (the “ Company ”), and the Company, entered into a Non-Redemption Agreement and Assignment of Economic Interest (the “ Non-Redemption Agreement ”) with an unaffiliated third party

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Aspire Biopharma Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-053721

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