secwatch.observer — SEC 8-K summary
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Issuer:     Aspire Biopharma Holdings, Inc. (ASBP)
CIK:        0001847345
Form:       8-K
Filed at:   2024-05-22T23:59:59+00:00
Accession:  0001493152-24-020970
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PowerUp enters non-redemption pact; up to 450K shares held, sponsor to transfer shares to preserve trust
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- Non-redemption agreement with unaffiliated shareholder for up to 450,000 Public Shares at the May 22, 2024 extraordinary general meeting to approve extension.
- Sponsor will transfer 25,000 Founder Shares and 25,000 New Issued Shares (to be issued at business combination close) for each 150,000 non-redeemed shares.
- Agreement aims to increase funds remaining in trust account; extension would push business combination deadline to February 17, 2025.
- Transfer of shares conditioned on approval of extension at meeting and consummation of initial business combination.
- Investor waives redemption rights on the specified shares and agrees not to redeem them in connection with the extension.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847345/000149315224020970/0001493152-24-020970-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847345/000149315224020970/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-020970

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