Aspire Biopharma raises up to $21M via convertible preferred stock; board adds Balatsos

Aspire Biopharma Holdings, Inc.

Initial closing of 13,750 Series A Convertible Preferred Shares for $11M gross proceeds; up to $21M total available.
Preferred shares convertible into common at 80% of lowest 5-day VWAP prior to conversion, subject to 4.99% ownership cap.
Company expects to regain Nasdaq stockholders' equity compliance (min $2.5M) after the offering.
Donald G. Fell resigned from board; Philip Balatsos appointed to fill vacancy.
RBW Capital Partners acted as placement agent; proceeds to support operations and reduce legacy debt.

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