Title: Aspire Biopharma Holdings, Inc. Publicly Lists on Nasdaq Following Successful Business Combination

In a major development, Aspire Biopharma Holdings, Inc. (“Aspire Biopharma”) and PowerUp Acquisition Corp. (Nasdaq: PWUPU) have announced the successful completion of their business combination. The agreement was approved by PowerUp Acquisition Corp stockholders on January 31, 2025, and the transaction demarcated on February 17. Starting February 20, 2025, Aspire Biopharma shares of common stock and warrants will start trading on the Nasdaq Global Market and Nasdaq Capital Market, under the ticker symbols “ASBP” and “ASBPW,” respectively.

The financials from this transaction are estimated to total around $3.8 million, including both PowerUp’s trust account funds and investments from the recent private placement equity financing (PIPE). This transaction intends to provide Aspire with the potential to expand new product offerings, boost strategic partnerships, and enable the clinical trials and commercialization of its fast-absorbing aspirin for stopping cardiac events.

In a comment, Kraig Higginson, CEO of Aspire, stated, “I am thrilled with the completion of this business combination and excited to lead this talented organization as it prepares to commercialize a technology with the potential to make a meaningful impact on healthcare and patient well-being.”

In addition to this critical development, Aspire Biopharma has entered into a purchase agreement known as an Equity Line of Credit (ELOC) Agreement with Arena Business Solutions Global SPC II, Ltd. Under this agreement, the firm can direct Arena to purchase up to $100,000,000 in shares of the Aspire’s common stock. This term of the ELOC Agreement commenced on the execution date and will end on established conditions.

Aspire has developed an innovative delivery system using its patented and patent-pending technology to facilitate rapid sublingual absorption of drugs and supplements. Their lead product, “instant absorption” aspirin is designed for cardiology emergencies and fast-acting pain management.

Further commenting on this transaction, Suren Ajjarapu, CEO of Powerup, said, “We are excited to see Aspire take this important next step in its evolution as a transformative biopharmaceutical company by becoming a publicly traded company.”

This latest move is expected to significantly contribute to Aspire’s strategic growth plan, enabling the advancement of multiple clinical-stage candidates and the delivery of several essential near-term catalysts for value creation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PowerUp Acquisition’s 8K filing here.

PowerUp Acquisition Company Profile

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses.