---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-063676"
form_type: "8-K"
ticker: "ASBP"
cik: "0001847345"
company_name: "Aspire Biopharma Holdings, Inc."
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:30:05.715384+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-063676
- form_type: 8-K
- ticker: ASBP
- cik: 0001847345
- company_name: Aspire Biopharma Holdings, Inc.
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.03, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847345/000110465923063676/0001104659-23-063676-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847345/000110465923063676/tm2316603d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-063676
- JSON: https://secwatch.observer/filing/0001104659-23-063676.json
- Plain text: https://secwatch.observer/filing/0001104659-23-063676.txt

## Key facts
- Governance Changes
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847345/000110465923063676/0001104659-23-063676-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.