PowerUp secures up to $500K loan from Blackstone (Aspire insider) at 20% OID to fund merger

Aspire Biopharma Holdings, Inc.

Blackstone may loan up to $500,000 principal; $184,543.80 drawn as of Dec. 18, 2024.
Loan has 20% original issue discount, 10% annual interest, and 10% exit fee.
Maturity is earlier of June 1, 2025 or $5M gross proceeds from a debt/equity offering.
At Business Combination close, Sponsor transfers 3 PWUP Class A shares per dollar loaned to Blackstone.
Commitment Shares registered under Registration Rights Agreement included in the deal.

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