---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-046395"
form_type: "8-K"
ticker: "ASBP"
cik: "0001847345"
company_name: "Aspire Biopharma Holdings, Inc."
filed_at: "2023-12-28T23:59:59+00:00"
generated_at: "2026-06-07T06:29:29.777460+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PowerUp Acquisition Corp. enters merger with Visiox Pharmaceuticals for $80M base consideration

## Summary
- Base merger consideration of $80M, subject to net working capital, transaction expenses, and indebtedness adjustments.
- Earnout: up to 6M additional shares tied to Omlonti first commercial sale within 12 months and stock price targets of $12.50 and $15.00.
- Post-closing board: 5 directors (2 from PowerUp, 3 from Visiox); CEO and CFO will be Visiox's executives.
- Closing conditions include net tangible assets >= $5,000,001 and at least $5M in trust or PIPE after redemptions; Outside Date May 31, 2024.
- Also disclosed $250K loan from SSVK Associates to sponsor, then to PowerUp, repayable in cash or shares at $10/share conversion.

## SEC filing metadata
- accession: 0001493152-23-046395
- form_type: 8-K
- ticker: ASBP
- cik: 0001847345
- company_name: Aspire Biopharma Holdings, Inc.
- filed_at: 2023-12-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1847345/000149315223046395/0001493152-23-046395-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1847345/000149315223046395/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-046395
- JSON: https://secwatch.observer/filing/0001493152-23-046395.json
- Plain text: https://secwatch.observer/filing/0001493152-23-046395.txt

## Key facts
- Material Agreements
  Aspire Biopharma Holdings, Inc. entered into Agreement and Plan of Merger with PowerUp Acquisition Corp., PowerUp Merger Sub Inc., SRIRAMA Associates, LLC, Visiox Pharmaceuticals, Inc., Ryan Bleeks valued at $80,000,000 (effective 2023-12-26).
  - Action: entry
  - Agreement: merger
  - Counterparty: PowerUp Acquisition Corp., PowerUp Merger Sub Inc., SRIRAMA Associates, LLC, Visiox Pharmaceuticals, Inc., Ryan Bleeks
  - Value: $80,000,000
  - Effective: 2023-12-26
  source text: On December 26, 2023, PowerUp Acquisition Corp., a Cayman Islands exempted company (“PowerUp” or “Purchaser”), entered into an Agreement and Plan of Merger by and among PowerUp, PowerUp Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of PowerUp (“Merger Sub”), SRIRAMA Associates, LLC, a Delaware limited liability company and PowerUp’s sponsor (the “Sponsor”), Visiox Pharmaceuticals, Inc., a Delaware corporation (“Visiox” or “Seller”), and Ryan Bleeks, in the capacity as the seller representative (as may be amended and/or restated from time to time, the “Merger Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1847345/000149315223046395/0001493152-23-046395-index.htm

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