---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-102360"
form_type: "8-K"
ticker: null
cik: "0001885461"
company_name: "ShoulderUP Technology Acquisition Corp."
filed_at: "2024-11-26T23:59:59+00:00"
generated_at: "2026-05-29T18:10:31.534033+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ShoulderUp Technology restates June 30 2024 financials due to derivative liability error

## Summary
- Error from using incorrect Class B share count in non-redemption agreement derivative liability calculation.
- Overstated derivative liability, total liabilities, and net loss; understated total other income.
- Board and Audit Committee concluded June 30 2024 interim financials should no longer be relied upon.
- Company intends to file amended 10-Q as soon as practicable.

## SEC filing metadata
- accession: 0001213900-24-102360
- form_type: 8-K
- cik: 0001885461
- company_name: ShoulderUP Technology Acquisition Corp.
- filed_at: 2024-11-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1885461/000121390024102360/0001213900-24-102360-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1885461/000121390024102360/ea0222614-8k_shoulder.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-102360
- JSON: https://secwatch.observer/filing/0001213900-24-102360.json
- Plain text: https://secwatch.observer/filing/0001213900-24-102360.txt

## Key facts
- Auditor Changes
  ShoulderUP Technology Acquisition Corp. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On November 25, 2024, the Board of Directors of the Company, including the Audit Committee, determined that the June 30 Interim Financial Statements, as well as any reports, or similar communications of the June 30 Interim Financial Statements, should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1885461/000121390024102360/0001213900-24-102360-index.htm

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