Business
Aspire Biopharma Holdings, Inc., Announces Public Listing on Nasdaq
The closing of the business combination with PowerUp Acquisition Corp. creates Nasdaq-listed biopharmaceutical company dedicated to developing breakthrough
About this update from Aspire Biopharma Holdings, Inc.
[{"type":"text","content":"The closing of the business combination with PowerUp Acquisition Corp. creates Nasdaq-listed biopharmaceutical company dedicated to developing breakthrough innovations in FDA approved drugs, nutraceuticals, and supplementsAspire has multiple product candidates in key areas of medical needs such as a fast-acting aspirin product for cardiology emergencies and pain management, a proprietary Viagra/Cialis combination product, various bi-hormonal drugs such as testosterone, estrogen, weight loss, anti-seizure, and thyroid drugs. Supplements such as pre-workout and melatonin are already being developed using Aspire's proprietary sublingual delivery system.Aspire Biopharma Holdings, Inc. (\"Aspire Biopharma\") is scheduled to begin trading on Nasdaq on February 20, 2025 under the ticker symbol \"ASBP\". HUMACO, PR AND NEW YORK, NY / ACCESS Newswire / February 20, 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\"). Proceeds from the transaction totaled approximately $3.8 million, which included funds held in PowerUp's trust account and a concurrent private placement investment in public equity (PIPE) financing. The Business Combination was approved by PowerUp Acquistion 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 pursue trials and commercialization of its fast-absorbing aspirin for use in stopping cardiac incidents which management believes is a candidate for fast-track approval through the FDA.HighlightsIndustry-Leading Platform: Aspire is focused on developing a pipeline of...