Aspire Biopharma, Inc., a developer of innovative drug delivery mechanisms, has announced a business combination agreement with PowerUp Acquisition Corp., a Nasdaq-listed special purpose acquisition company. The transaction values Aspire at an approximate pre-money equity of $316 million. The combined entity, expected to be named Aspire Biopharma Holdings, Inc., will continue to focus on cutting-edge delivery systems for FDA-approved drugs, nutraceuticals, and supplements, aiming for a Nasdaq listing under ticker symbol ASPH. The merger, subject to regulatory and shareholder approvals, is targeted for completion by early 2025. The leadership team, including CEO Kraig Higginson, is expected to stay on to further innovate and expand the company’s pipeline, which includes products like Instaprin, an instant aspirin formulation for emergency cardiology use. The merger with PowerUp is anticipated to bolster Aspire’s growth and expedite its FDA applications and strategic partnerships.
Biopharmaceuticals, Special Purpose Acquisition Companies (SPACs),United States, Puerto Rico
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