---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-059815"
form_type: "8-K"
ticker: "ESLA"
cik: "0001844417"
company_name: "Estrella Immunopharma, Inc."
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:27:58.652058+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# TradeUP Acquisition enters $6.8M PIPE investment with Suma Ventures for Estrella merger

## Summary
- TradeUP (UPTD) signed binding PIPE term sheet with Suma Ventures to acquire $6.8M payables of Estrella prior to merger closing.
- At closing, TradeUP will issue 680,000 Class B units (common + preferred) to Suma in exchange for waiving the $6.8M indebtedness.
- Preferred stock converts six months after closing at price = max($10 - higher of closing price or 20-day VWAP, floor $4.15).
- New Estrella common stock expected to list on Nasdaq under ticker 'ESLA'; all shares subject to one-year lock-up.
- Transaction is conditioned on closing of the previously announced business combination between TradeUP and Estrella Biopharma.

## SEC filing metadata
- accession: 0001213900-23-059815
- form_type: 8-K
- ticker: ESLA
- cik: 0001844417
- company_name: Estrella Immunopharma, Inc.
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1844417/000121390023059815/0001213900-23-059815-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1844417/000121390023059815/ea182327-8k425_tradeup.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-059815
- JSON: https://secwatch.observer/filing/0001213900-23-059815.json
- Plain text: https://secwatch.observer/filing/0001213900-23-059815.txt

## Key facts
- Material Agreements
  Estrella Immunopharma, Inc. entered into Binding Term Sheet with Suma Ventures, LLC valued at $6.8 million (effective 2023-07-25).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Suma Ventures, LLC
  - Value: $6.8 million
  - Effective: 2023-07-25
  source text: On July 25, 2023, TradeUP Acquisition Corp. (the “Company” or “UPTD”) entered into a binding term sheet (the “Binding Term Sheet”) with Suma Ventures, LLC (the “Investor”), Estrella Biopharma, Inc., a Delaware corporation (“Estrella”), and Eureka Therapeutics, Inc., a Delaware corporation (“Eureka”), in connection with proposed transactions contemplated by a certain Agreement and Plan of Merger dated September 30, 2022 (the “Merger Agreement”) by and among UPTD, Estrella and Tradeup Merger Sub Inc. (such transactions, the “Business Combination”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1844417/000121390023059815/0001213900-23-059815-index.htm

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