ShoulderUp Technology Acquisition Corp. Announces Proposed $7 Million PIPE and ELOC
ShoulderUp Technology Acquisition Corp (SUAC) has announced plans to pursue financing alternatives in connection with its pending business combination with SEE ID, Inc. The company intends to raise up to $7 million through either a private offering of common stock and/or an equity line of credit (ELOC).
The securities will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons through Regulation S. The proceeds will be used to meet business combination closing conditions and fund the combined company's operations. The securities have not been registered under the Securities Act of 1933 and cannot be sold in the United States without meeting exemption requirements.
ShoulderUp Technology Acquisition Corp (SUAC) ha annunciato l'intenzione di esplorare opzioni di finanziamento in relazione alla sua imminente fusione con SEE ID, Inc. L'azienda prevede di raccogliere fino a 7 milioni di dollari tramite un'offerta privata di azioni ordinarie e/o una linea di credito azionaria (ELOC).
I titoli saranno offerti esclusivamente a investitori istituzionali qualificati secondo la Regola 144A e a soggetti non statunitensi tramite il Regolamento S. I proventi saranno utilizzati per soddisfare le condizioni di chiusura della fusione e finanziare le operazioni della società combinata. I titoli non sono stati registrati ai sensi del Securities Act del 1933 e non possono essere venduti negli Stati Uniti senza rispettare i requisiti di esenzione.
ShoulderUp Technology Acquisition Corp (SUAC) ha anunciado planes para buscar alternativas de financiamiento en relación con su combinación de negocios pendiente con SEE ID, Inc. La compañía tiene la intención de recaudar hasta 7 millones de dólares mediante una oferta privada de acciones ordinarias y/o una línea de crédito de capital (ELOC).
Los valores se ofrecerán exclusivamente a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses a través del Reglamento S. Los fondos se utilizarán para cumplir con las condiciones de cierre de la combinación de negocios y financiar las operaciones de la empresa combinada. Los valores no han sido registrados bajo la Ley de Valores de 1933 y no pueden venderse en los Estados Unidos sin cumplir con los requisitos de exención.
ShoulderUp Technology Acquisition Corp (SUAC)는 SEE ID, Inc와의 예정된 사업 결합과 관련하여 자금 조달 방안을 모색할 계획임을 발표했습니다. 회사는 사모 주식 공모 및/또는 주식 신용 한도(ELOC)를 통해 최대 700만 달러를 조달할 예정입니다.
증권은 Rule 144A에 따른 적격 기관 투자자와 Regulation S를 통한 미국 외 투자자에게만 독점적으로 제공됩니다. 조달 자금은 사업 결합 종료 조건 충족 및 합병 회사 운영 자금으로 사용됩니다. 이 증권은 1933년 증권법에 따라 등록되지 않았으며, 면제 요건을 충족하지 않으면 미국 내에서 판매할 수 없습니다.
ShoulderUp Technology Acquisition Corp (SUAC) a annoncé son intention d'explorer des options de financement dans le cadre de sa fusion en cours avec SEE ID, Inc. La société prévoit de lever jusqu'à 7 millions de dollars via une offre privée d'actions ordinaires et/ou une ligne de crédit en actions (ELOC).
Les titres seront offerts exclusivement à des acheteurs institutionnels qualifiés selon la règle 144A et à des personnes non américaines via le règlement S. Les fonds seront utilisés pour satisfaire aux conditions de clôture de la fusion et financer les opérations de la société combinée. Ces titres n'ont pas été enregistrés en vertu du Securities Act de 1933 et ne peuvent être vendus aux États-Unis sans respecter les exigences d'exemption.
ShoulderUp Technology Acquisition Corp (SUAC) hat Pläne angekündigt, Finanzierungsalternativen im Zusammenhang mit der bevorstehenden Unternehmenszusammenführung mit SEE ID, Inc zu verfolgen. Das Unternehmen beabsichtigt, bis zu 7 Millionen US-Dollar durch ein Privatangebot von Stammaktien und/oder eine Aktienkreditlinie (ELOC) aufzubringen.
Die Wertpapiere werden ausschließlich qualifizierten institutionellen Käufern gemäß Rule 144A und Nicht-US-Personen über Regulation S angeboten. Die Erlöse werden verwendet, um die Abschlussbedingungen der Unternehmenszusammenführung zu erfüllen und den Betrieb des kombinierten Unternehmens zu finanzieren. Die Wertpapiere sind nicht nach dem Securities Act von 1933 registriert und dürfen in den USA nur unter Einhaltung der Ausnahmeregelungen verkauft werden.
- Secured potential financing pathway up to $7 million
- Multiple financing options available through PIPE and ELOC
- Strategic funding to support business combination completion
- Potential dilution for existing shareholders through new share issuance
- Financing subject to market and other conditions
- Business combination completion dependent on financing success
Insights
ShoulderUp announces plans for $7M financing through PIPE and ELOC to fund its merger with SEE ID, representing about 5% of its market cap.
ShoulderUp's announcement outlines plans to pursue up to
The article specifies these financing options will be pursued "subject to market and other conditions," indicating this is a preliminary announcement rather than a completed transaction. The proceeds have two stated purposes: satisfying conditions to close the business combination and funding the combined company's operations post-merger.
The offering will be to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, meaning these shares won't be registered with the SEC and will have resale restrictions. This
ShoulderUp pursuing $7M in private financing to satisfy closing conditions for SEE ID merger through institutional investment and potential credit line.
This announcement indicates ShoulderUp is taking steps to secure necessary funding to complete its business combination with SEE ID. The article specifically states the financing is intended to "satisfy the conditions to the closing of the business combination," suggesting the transaction agreement likely contains minimum cash requirements or other financial conditions that must be met.
The company is pursuing two complementary financing approaches:
- A private placement to institutional investors
- A potential equity line of credit
This dual approach provides flexibility, as the PIPE would deliver immediate capital while an ELOC would enable ongoing access to funding post-combination. The private placement approach allows for faster execution compared to registered offerings but restricts potential investors to qualified institutional buyers and non-U.S. persons as defined by securities regulations.
The press release is careful to note this is not a solicitation or offer, which indicates the company is in the early stages of exploring these financing options rather than announcing finalized agreements.
Kennesaw, GA, April 22, 2025 (GLOBE NEWSWIRE) -- ShoulderUp Technology Acquisition Corp. (“ShoulderUp” or the “Company”) announced that in connection with its pending business combination with SEE ID, Inc. (“SEE ID”), ShoulderUp and SEE ID, subject to market and other conditions, intend to pursue various financing alternatives, which may include offering up to
The net proceeds of the offering and/or the ELOC will be used to satisfy the conditions to the closing of the business combination and to fund ongoing operations of the combined company.
The securities to be offered have not been registered under the Securities Act, or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. SEE ID plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
This press release is being issued pursuant to Rule 135c under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy common stock or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, common stock or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About ShoulderUp
ShoulderUp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase reorganization or similar business combination with one or more businesses or entities.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
ShoulderUp Contact:
ShoulderUp Technology Acquisition Corp, 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, (650) 276-7040.
FAQ
What is the value of ShoulderUp Technology's (SUAC) proposed PIPE financing?
Who can invest in ShoulderUp's (SUAC) private offering?
What is the purpose of SUAC's $7 million financing round?
When will ShoulderUp (SUAC) complete its business combination with SEE ID?
