PowerUp Acquisition extends deadline to May 2024; ~$283M redeemed from trust

Aspire Biopharma Holdings, Inc.

Shareholders approved extension of business combination deadline from May 23, 2023 to May 23, 2024.
Approximately 26.95M public shares redeemed, removing ~$283M (≈$10.51/share) from trust; ~$20M remains.
Following redemptions, only ~1.8M public shares outstanding (from ~28.75M pre-redemption).
All 7,187,500 Class B shares converted to Class A on a one-for-one basis; no Class B shares remain.
Post-conversion and redemptions, ~8.99M Class A shares outstanding.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Aspire Biopharma Holdings, Inc.: Extended deadline to consummate initial business combination from May 23, 2023 to May 23, 2024 (effective 2023-05-18).

Change: charter amendment
Effective: 2023-05-18

Exact text from the filing

the shareholders of the Company approved an amendment (the “Charter Amendment”) to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate an initial business combination from May 23, 2023 to May 23, 2024.

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Aspire Biopharma Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-063676

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