Business
Aspire Biopharma Announces $21 Million Private Placement by Select Investors, Strengthening Balance Sheet, Capital Position, and Fortifying Shareholder Equity to Meet Nasdaq Requirements
ESTERO, FLORIDA / ACCESS Newswire / February 11, 2026 / Aspire Biopharma Holdings, Inc. (Nasdaq:ASBP) ("Aspire" or the "Company"), a biopharmaceutical company
About this update from Aspire Biopharma Holdings, Inc.
[{"type":"text","content":"ESTERO, FLORIDA / ACCESS Newswire / February 11, 2026 / Aspire Biopharma Holdings, Inc. (Nasdaq:ASBP) (\"Aspire\" or the \"Company\"), a biopharmaceutical company developing multi-faceted patent-pending drug delivery technology, today announced that it has entered into a securities purchase agreement on February 6, 2026 (the \"Securities Purchase Agreement\") with select institutional and accredited investors (collectively, the \"Investors\") for the purchase and sale of up to 26,250 shares of Series A Convertible Preferred Stock (each, a \"Preferred Share\" and collectively, the \"Preferred Shares\"), at a purchase price of $800 per Preferred Share. The Preferred Shares are convertible into shares of the Company's common stock, par value $0.0001 per share (the \"Common Stock\"), representing aggregate gross proceeds to the Company of up to $21.0 million, before deducting placement agent fees and other offering expenses (the \"Offering\").Concurrently with the execution of the Securities Purchase Agreement, the Company completed the initial closing (the \"Initial Closing\") of the Offering on February 6, 2026, issuing an aggregate of 13,750 Preferred Shares for gross proceeds of $11.0 million, before deducting placement agent fees and other offering expenses and amounts used for the repayment of certain legacy indebtedness. In accordance with the Securities Purchase Agreement, a portion of the proceeds from the initial closing will be used to support the Company's legacy business operations, fund strategic initiatives and pay offering-related expenses. The second closing of the Offering is expected to occur at a later date and remains subject to the satisfaction of customary closing conditions and the other conditions set forth in the Securities Purchase Agreement, which has been filed with the Securities and Exchange Commission (the \"SEC'). Additional information regarding the Offering is available in the Company's Current Report on Form 8-K filed on February 11, 2026 with the SEC.The Offering is expected to enable the Company to regain compliance with Nasdaq's stockholders' equity listing requirements, representing an important milestone in the Company's ongoing balance sheet restructuring and positioning the Company to support the continued development of its patent-pending drug delivery technologies.Following the Initial Cl...