secwatch.observer — SEC 8-K summary
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Issuer:     Aspire Biopharma Holdings, Inc. (ASBP)
CIK:        0001847345
Form:       8-K
Filed at:   2023-12-28T23:59:59+00:00
Accession:  0001493152-23-046395
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847345/000149315223046395/0001493152-23-046395-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847345/000149315223046395/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-046395

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer