secwatch.observer — SEC 8-K summary
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Issuer:     Aspire Biopharma Holdings, Inc. (ASBP)
CIK:        0001847345
Form:       8-K
Filed at:   2025-02-21T23:59:59+00:00
Accession:  0001493152-25-007898
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 9.01, 4.01, 2.03, 3.02, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Aspire Biopharma closes SPAC merger with PowerUp; issues $3.75M convertible debentures
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- Business combination closed Feb 17, 2025: Aspire Biopharma becomes wholly owned sub of Aspire Biopharma Holdings (ASBP). Outstanding: 46M shares, 14.4M warrants.
- Issued $3.75M principal of 20% OID convertible debentures for $3M net; conversion at 92.5% of 5-day VWAP (floor $4.00). Also issued 2.1M commitment shares.
- New CEO Kraig Higginson (salary $180k) and CFO Ernest Scheidemann ($90k). Board: Howe, Stein, Sher, Kimball, Ajjarapu, Fell.
- Blackstone Capital receives 1.795M commitment shares as amendment for working capital loans; lock-up and non-competition agreements executed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847345/000149315225007898/0001493152-25-007898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847345/000149315225007898/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-007898

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