Form 8-K - Current report
July 23 2024 - 7:00AM
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2024-07-19
2024-07-19
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2024-07-19
2024-07-19
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2024-07-19
2024-07-19
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): July 19, 2024
PowerUp
Acquisition Corp.
(Exact
Name of Registrant as Specified in Its Charter)
Cayman
Islands |
|
001-41293 |
|
N/A |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
No.) |
|
(I.R.S.
Employer
Identification
No.) |
188
Grand Street Unit #195
New
York, NY 10013
(Address
of Principal Executive Offices)
(347)
313-8109
(Registrant’s
Telephone Number)
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Units,
each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one Redeemable Warrant |
|
PWUPU |
|
The
Nasdaq Stock Market LLC |
Class
A Ordinary Shares, par value $0.0001 per share, included as part of the Units |
|
PWUP |
|
The
Nasdaq Stock Market LLC |
Redeemable
Warrants each exercisable for one Class A Ordinary Share for $11.50 per share, included as part of the units |
|
PWUPW |
|
The
Nasdaq Stock Market LLC |
Indicate by
check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of
this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.02. Termination of a Material Definitive Agreement.
As
previously disclosed, PowerUp Acquisition Corp. (the “Company”) entered into an Agreement and Plan of Merger by and among
PowerUp, PowerUp Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of PowerUp (“Merger Sub”), SRIRAMA Associates,
LLC, a Delaware limited liability company and PowerUp’s sponsor, Ryan Bleeks, in the capacity as the seller representative, and
Visiox Pharmaceuticals, Inc., a Delaware corporation (“Visiox”) (as subsequently amended, the “Merger Agreement”),
pursuant to which, among other things, Merger Sub would merge with and into Visiox, with Visiox continuing as the surviving entity in
the merger and, after giving effect to such merger, Visiox would be a wholly-owned subsidiary of the Company.
On
July 19, 2024, the Company delivered written notice to Visiox of its election to terminate the Merger Agreement pursuant to Section 7.1(b),
as amended, thereof, and abandoned the transactions contemplated thereby, primarily because the conditions to closing set forth in Article
VI of the Merger Agreement were not satisfied or waived by June 30, 2024. The termination of the Merger Agreement shall have the effects
set forth therein.
The
Company intends to continue evaluating other possible business combination targets, though there can be no assurance these evaluations
or efforts will result in a business combination transaction.
Item
9.01. Financial Statements and Exhibits.
Exhibit
No. |
|
Description |
104 |
|
Cover
Page Interactive Data File (embedded with the Inline XBRL document). |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
POWERUP
ACQUISITION CORP. |
|
|
|
|
By:
|
/s/
Surendra Ajjarapu |
|
|
Surendra
Ajjarapu |
|
|
Chief
Executive Officer |
|
|
|
Date:
July 23, 2024 |
|
|
v3.24.2
Cover
|
Jul. 19, 2024 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jul. 19, 2024
|
Entity File Number |
001-41293
|
Entity Registrant Name |
PowerUp
Acquisition Corp.
|
Entity Central Index Key |
0001847345
|
Entity Incorporation, State or Country Code |
E9
|
Entity Address, Address Line One |
188
Grand Street Unit #195
|
Entity Address, City or Town |
New
York
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
10013
|
City Area Code |
(347)
|
Local Phone Number |
313-8109
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Entity Information, Former Legal or Registered Name |
Not
Applicable
|
Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one Redeemable Warrant |
|
Title of 12(b) Security |
Units,
each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one Redeemable Warrant
|
Trading Symbol |
PWUPU
|
Security Exchange Name |
NASDAQ
|
Class A Ordinary Shares, par value $0.0001 per share, included as part of the Units |
|
Title of 12(b) Security |
Class
A Ordinary Shares, par value $0.0001 per share, included as part of the Units
|
Trading Symbol |
PWUP
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants each exercisable for one Class A Ordinary Share for $11.50 per share, included as part of the units |
|
Title of 12(b) Security |
Redeemable
Warrants each exercisable for one Class A Ordinary Share for $11.50 per share, included as part of the units
|
Trading Symbol |
PWUPW
|
Security Exchange Name |
NASDAQ
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