PowerUp Acquisition Corp. amends Aspire Biopharma merger; consideration set at $350M

Aspire Biopharma Holdings, Inc.

Merger consideration adjusted to $350M less cash shortfall and debt, reflecting anticipated ownership percentages.
Equity incentive plan pool set at greater of 10% of post-closing shares or 5M shares, with annual evergreen provision.
Disclosure schedule delivery date extended to September 18, 2024, with 7-day review and cure period.
Amendment signed September 5, 2024, provides additional time for due diligence and disclosure schedules.
Deal remains subject to shareholder approvals and Nasdaq listing standards.

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