secwatch.observer — SEC 8-K summary
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Issuer:     Aspire Biopharma Holdings, Inc. (ASBP)
CIK:        0001847345
Form:       8-K
Filed at:   2023-07-19T23:59:59+00:00
Accession:  0001104659-23-082105
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PowerUp Acquisition Corp. enters sponsor transfer agreement with SRIRAMA Associates for $1.00
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- Sponsor sells 4,317,500 Class A shares and 6,834,333 private warrants to SRIRAMA for $1.00, payable at business combination.
- SRIRAMA assumes SPAC's public reporting, D&O insurance, outstanding legal fees, and administrative services balance of $182,689.
- SRIRAMA will replace current directors and officers with its own selections; existing officers and directors to resign at closing.
- Post-transfer Sponsor retains 2,870,000 Class A shares and 2,929,000 private warrants; 750,000 shares subject to non-redemption agreements.
- Closing expected on or before August 18, 2023, subject to board approval, member approval, underwriter waiver, and filing of Q2 10-Q.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847345/000110465923082105/0001104659-23-082105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847345/000110465923082105/tm2321583d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-082105

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