8-K
filed August 23, 2023, 7:59 PM ET
ticker ASBP
CIK 0001847345
other material
confidence high
sentiment neutral
materiality 0.80
PowerUp Acquisition Corp. changes sponsor, board and officers; new CEO appointed
Aspire Biopharma Holdings, Inc.
- New sponsor SRIRAMA Associates acquired 4,317,500 Class A shares and 6,834,333 warrants for $1 total.
- All prior directors (Hack, Tretton, Blacklow, Uhrman, Campbell) and officers resigned.
- Surendra Ajjarapu appointed CEO and Chairman; Howard Doss appointed CFO.
- Trust account true-up payment of ~$0.02/share paid to redeeming shareholders on Aug 18, 2023.
- New independent directors: Michael Peterson, Donald Fell, Mayur Doshi, Avinash Wadhwani.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
Kyle Campbell resigned as director at Aspire Biopharma Holdings, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
(i) Bruce Hack, Jack Tretton, Peter Blacklow, Julie Uhrman, and Kyle Campbell (the “Resigning Directors”) tendered their resignations as members of the board of directors of the Company (the “Board”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Michael L. Peterson was appointed as director at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- director
Exact text from the filing
(iii) Surendra Ajjarapu, Michael L. Peterson, Donald G. Fell, Mayur Doshi, and Avinash Wadhwani were appointed as members of the Board (each, a “New Director”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Gabriel Schillinger resigned as other_named_officer at Aspire Biopharma Holdings, Inc..
- Action
- resigned
Exact text from the filing
(ii) Jack Tretton, Michael Olson, and Gabriel Schillinger resigned as officers of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Avinash Wadhwani was appointed as director at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- director
Exact text from the filing
(iii) Surendra Ajjarapu, Michael L. Peterson, Donald G. Fell, Mayur Doshi, and Avinash Wadhwani were appointed as members of the Board (each, a “New Director”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Michael Olson resigned as other_named_officer at Aspire Biopharma Holdings, Inc..
- Action
- resigned
Exact text from the filing
(ii) Jack Tretton, Michael Olson, and Gabriel Schillinger resigned as officers of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Bruce Hack resigned as director at Aspire Biopharma Holdings, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
(i) Bruce Hack, Jack Tretton, Peter Blacklow, Julie Uhrman, and Kyle Campbell (the “Resigning Directors”) tendered their resignations as members of the board of directors of the Company (the “Board”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jack Tretton resigned as director at Aspire Biopharma Holdings, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
(i) Bruce Hack, Jack Tretton, Peter Blacklow, Julie Uhrman, and Kyle Campbell (the “Resigning Directors”) tendered their resignations as members of the board of directors of the Company (the “Board”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Surendra Ajjarapu was appointed as director at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- director
Exact text from the filing
(iii) Surendra Ajjarapu, Michael L. Peterson, Donald G. Fell, Mayur Doshi, and Avinash Wadhwani were appointed as members of the Board (each, a “New Director”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Jack Tretton resigned as other_named_officer at Aspire Biopharma Holdings, Inc..
- Action
- resigned
Exact text from the filing
(ii) Jack Tretton, Michael Olson, and Gabriel Schillinger resigned as officers of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Peter Blacklow resigned as director at Aspire Biopharma Holdings, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
(i) Bruce Hack, Jack Tretton, Peter Blacklow, Julie Uhrman, and Kyle Campbell (the “Resigning Directors”) tendered their resignations as members of the board of directors of the Company (the “Board”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Donald G. Fell was appointed as director at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- director
Exact text from the filing
(iii) Surendra Ajjarapu, Michael L. Peterson, Donald G. Fell, Mayur Doshi, and Avinash Wadhwani were appointed as members of the Board (each, a “New Director”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Surendra Ajjarapu was appointed as Chairman of the Board at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- Chairman of the Board
Exact text from the filing
(iv) Surendra Ajjarapu was appointed Chairman of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Howard Doss was appointed as Chief Financial Officer at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
(v) Surendra Ajjarapu and Howard Doss were appointed as the Company’s Chief Executive Officer and Chief Financial Officer, respectively (each, a “New Officer”).
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Mayur Doshi was appointed as director at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- director
Exact text from the filing
(iii) Surendra Ajjarapu, Michael L. Peterson, Donald G. Fell, Mayur Doshi, and Avinash Wadhwani were appointed as members of the Board (each, a “New Director”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Julie Uhrman resigned as director at Aspire Biopharma Holdings, Inc..
- Action
- resigned
- Role
- director
Exact text from the filing
(i) Bruce Hack, Jack Tretton, Peter Blacklow, Julie Uhrman, and Kyle Campbell (the “Resigning Directors”) tendered their resignations as members of the board of directors of the Company (the “Board”)
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Surendra Ajjarapu was appointed as Chief Executive Officer at Aspire Biopharma Holdings, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
(v) Surendra Ajjarapu and Howard Doss were appointed as the Company’s Chief Executive Officer and Chief Financial Officer, respectively (each, a “New Officer”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Aspire Biopharma Holdings, Inc. entered into Purchase Agreement with PowerUp Sponsor LLC, SRIRAMA Associates, LLC valued at aggregate purchase price of $1.00 for 4,317,500 Class A ordinary shares and 6,834,333 private placem (effective 2023-08-18).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- PowerUp Sponsor LLC, SRIRAMA Associates, LLC
- Value
- aggregate purchase price of $1.00 for 4,317,500 Class A ordinary shares and 6,834,333 private placem
- Effective
- 2023-08-18
Exact text from the filing
on July 14, 2023, PowerUp Acquisition Corp., a Cayman Islands exempted company (the “Company”), entered into a purchase agreement (the “Purchase Agreement”) with PowerUp Sponsor LLC, a Delaware limited liability company (the “Original Sponsor”) and SRIRAMA Associates, LLC, a Delaware limited liability company (the “New Sponsor”), pursuant to which the New Sponsor agreed to purchase from the Original Sponsor 4,317,500 Class A ordinary shares, of the Company and 6,834,333 private placement warrants, each exercisable for one Class A Ordinary Share for an aggregate purchase price of $1.00
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.