Aspire Biopharma Holdings, Inc., Announces Public Listing on Nasdaq
Aspire Biopharma and PowerUp Acquisition Corp. (Nasdaq: PWUP) have completed their previously announced business combination, which was approved by PowerUp stockholders on January 31, 2025, and closed on February 17, 2025. Starting February 20, 2025, Aspire Biopharma will trade on the Nasdaq Global Market under the ticker symbols 'ASBP' (common stock) and 'ASBPW' (warrants).
The merger is expected to enhance Aspire's access to capital, enabling the company to expand its product development, accelerate strategic partnerships, and advance its fast-absorbing aspirin product for cardiac incidents, which management believes could receive FDA fast-track approval.
Aspire Biopharma e PowerUp Acquisition Corp. (Nasdaq: PWUP) hanno completato la loro fusione commerciale precedentemente annunciata, approvata dagli azionisti di PowerUp il 31 gennaio 2025, e conclusa il 17 febbraio 2025. A partire dal 20 febbraio 2025, Aspire Biopharma sarà quotata sul Nasdaq Global Market con i simboli ticker 'ASBP' (azioni ordinarie) e 'ASBPW' (warrant).
Si prevede che la fusione migliori l'accesso al capitale di Aspire, consentendo all'azienda di espandere lo sviluppo dei suoi prodotti, accelerare le partnership strategiche e promuovere il suo prodotto di aspirina a rapido assorbimento per incidenti cardiaci, che la direzione ritiene possa ricevere l'approvazione accelerata dalla FDA.
Aspire Biopharma y PowerUp Acquisition Corp. (Nasdaq: PWUP) han completado su fusión comercial previamente anunciada, que fue aprobada por los accionistas de PowerUp el 31 de enero de 2025 y cerrada el 17 de febrero de 2025. A partir del 20 de febrero de 2025, Aspire Biopharma cotizará en el Nasdaq Global Market bajo los símbolos de ticker 'ASBP' (acciones ordinarias) y 'ASBPW' (warrants).
Se espera que la fusión mejore el acceso de Aspire al capital, lo que permitirá a la empresa expandir el desarrollo de sus productos, acelerar las asociaciones estratégicas y avanzar en su producto de aspirina de rápida absorción para incidentes cardíacos, que la dirección cree que podría recibir la aprobación acelerada de la FDA.
아스파이어 바이오파마와 파워업 인수 법인 (Nasdaq: PWUP)은 2025년 1월 31일 파워업 주주들의 승인을 받은 이전에 발표된 사업 결합을 완료했으며, 2025년 2월 17일에 마감되었습니다. 2025년 2월 20일부터 아스파이어 바이오파마는 나스닥 글로벌 마켓에서 'ASBP' (보통주) 및 'ASBPW' (워런트)라는 티커 심볼로 거래됩니다.
이번 합병은 아스파이어의 자본 접근성을 향상시켜 회사가 제품 개발을 확장하고, 전략적 파트너십을 가속화하며, 심장 사건을 위한 신속 흡수 아스피린 제품을 발전시킬 수 있도록 할 것으로 예상됩니다. 경영진은 이 제품이 FDA의 신속 승인 절차를 받을 수 있을 것이라고 믿고 있습니다.
Aspire Biopharma et PowerUp Acquisition Corp. (Nasdaq: PWUP) ont complété leur fusion commerciale annoncée précédemment, qui a été approuvée par les actionnaires de PowerUp le 31 janvier 2025 et finalisée le 17 février 2025. À partir du 20 février 2025, Aspire Biopharma sera cotée sur le Nasdaq Global Market sous les symboles boursiers 'ASBP' (actions ordinaires) et 'ASBPW' (warrants).
On s'attend à ce que la fusion améliore l'accès d'Aspire au capital, permettant à l'entreprise d'élargir le développement de ses produits, d'accélérer les partenariats stratégiques et de faire progresser son produit d'aspirine à absorption rapide pour les incidents cardiaques, que la direction estime pouvoir obtenir une approbation accélérée de la FDA.
Aspire Biopharma und PowerUp Acquisition Corp. (Nasdaq: PWUP) haben ihre zuvor angekündigte Unternehmenszusammenlegung abgeschlossen, die von den Aktionären von PowerUp am 31. Januar 2025 genehmigt und am 17. Februar 2025 abgeschlossen wurde. Ab dem 20. Februar 2025 wird Aspire Biopharma an der Nasdaq Global Market unter den Tickersymbolen 'ASBP' (Stammaktien) und 'ASBPW' (Warrants) gehandelt.
Die Fusion wird voraussichtlich den Zugang von Aspire zu Kapital verbessern, was dem Unternehmen ermöglicht, die Produktentwicklung zu erweitern, strategische Partnerschaften zu beschleunigen und sein schnell absorbierendes Aspirin-Produkt für Herzereignisse voranzutreiben, von dem das Management glaubt, dass es eine beschleunigte Genehmigung durch die FDA erhalten könnte.
- Nasdaq listing provides increased market visibility and access to capital
- Development of fast-absorbing aspirin with potential FDA fast-track approval
- Enhanced ability to pursue strategic partnerships
- None.
Insights
The successful completion of the SPAC merger between PowerUp Acquisition Corp. and Aspire Biopharma marks a transformative event in the biotech sector. This transaction fundamentally reshapes Aspire's capital structure and market positioning, providing important access to public markets and enhanced funding capabilities.
The strategic timing of this public listing is particularly noteworthy, as it coincides with increased market interest in innovative drug delivery technologies. The company's focus on fast-absorbing aspirin for cardiac incidents represents a compelling market opportunity, especially considering the potential for FDA fast-track designation. The global market for acute cardiovascular treatments exceeds
Several key aspects warrant investor attention:
- The transition to Nasdaq listing provides enhanced liquidity and visibility, potentially attracting institutional investors and research coverage
- The warrant structure (ASBPW) offers additional complexity to the capital structure and potential future dilution considerations
- The FDA fast-track potential for their cardiac treatment could significantly accelerate the commercialization timeline
- Access to public capital markets enables more aggressive pursuit of strategic partnerships and internal product development
The success of this business combination will largely depend on management's ability to effectively deploy capital and advance their product pipeline, particularly their fast-absorbing aspirin program. The transition from SPAC to operating company typically involves careful navigation of lock-up periods and warrant exercises, which could impact short-term trading dynamics.
NEW YORK CITY, NY / ACCESS Newswire / February 19, 2025 / Aspire Biopharma, Inc. ("Aspire" or the "Company"), a developer of a multi-faceted patent-protected disruptive drug delivery mechanism technology, and PowerUp Acquisition Corp. (Nasdaq:PWUP), a Nasdaq Global Market® listed special purpose acquisition company, ("PowerUp"), today announced the completion of their previously announced business combination (the "Business Combination"). The Business Combination was approved by PowerUp Acquisition Corp. stockholders on January 31, 2025, and it closed on February 17, 2025. Beginning on February 20, 2025, Aspire Biopharma shares of common stock and warrants will begin to trade on the Nasdaq Global Market and Nasdaq Capital Market (collectively, "Nasdaq"), respectively, under the ticker symbols "ASBP" and "ASBPW," respectively.
The Business Combination is expected to provide Aspire Biopharma with improved access to sources of new capital, enable Aspire to further expand the internal development of new product offerings, accelerate strategic partnerships, and fast-absorbing aspirin for use in stopping cardiac incidents which management believes is a candidate for fast-track approval through the FDA.
About this Transaction
On September 23, 2024, Aspire Biopharma, Inc., a developer of a multi-faceted patent protected disruptive drug delivery mechanism technology, entered into a definitive business combination agreement with PowerUp Acquisition Corp. (Nasdaq:PWUP), a Nasdaq Global Market® listed special purpose acquisition company. Under the terms of the business combination agreement, the SPAC Sponsors and certain current equity holders, officers and directors of Aspire Biopharma have agreed to be subject to a (term) lockup in respect of their common stock, in each case subject to certain customary exceptions, which will provide important stability to the leadership and governance of the combined entity.
The description of the business combination contained herein is only a high-level summary and is qualified in its entirety by the more detailed description of the terms of the transaction provided in the definitive proxy statement/prospectus filed with the U.S. Securities and Exchange Commission on January 14, 2025.
Advisors
Dykema Gossett, PLLC served as legal counsel to PowerUp Acquisition Corp.
Sichenzia Ross Ference Carmel LLP served as legal counsel to Aspire BioPharma, Inc.
About Aspire Biopharma, Inc.
Headquartered in Humacao, Puerto Rico, Aspire Biopharma has developed a disruptive technology through a Novel Soluble Formulation which addresses emergencies, drug efficacy, dosage management, and response time. For more information, please visit www.aspirebiolabs.com.
About PowerUp Acquisition Corp.
PowerUp Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The PowerUp management team is led by Mr. Surendra Ajjarapu, Chief Executive Officer.
Safe Harbor Statement
Certain statements made in this communication are "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as "estimate," "projects," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "potential," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of the combined public company, including as they relate to the potential Business Combination and related transactions, pricing and market opportunity, the completion of the potential Business Combination and related transactions, the level of redemptions by PowerUp's public shareholders and the timing of the completion of the proposed Business Combination, including the anticipated closing date of the proposed Business Combination and the use of the cash proceeds therefrom. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of PowerUp's and Aspire's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Information concerning factors that could cause PowerUp's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q and initial public offering prospectus. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Aspire Biopharma, Inc. Contact
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
Powerup Acquisition Corp. Contact:
Suren Ajjarapu
Chairman and Chief Executive Officer
Suren@SRIRAMAAssociatesLLC.onmicrosoft.com
347-313-8109
SOURCE: Aspire Biopharma, Inc.
View the original press release on ACCESS Newswire
FAQ
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