secwatch.observer — SEC 8-K summary
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Issuer:     Aspire Biopharma Holdings, Inc. (ASBP)
CIK:        0001847345
Form:       8-K
Filed at:   2024-12-26T23:59:59+00:00
Accession:  0001493152-24-052097
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847345/000149315224052097/0001493152-24-052097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847345/000149315224052097/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-052097

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