PowerUp Acquisition Corp

For the period ended Dec 31, 2023. Filed Mar 11, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 11, 2024

ASBP$8.51+5.2%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Changes in Shareholders’ Deficit

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

Class A · Class B · Additional · Total
Ordinary Shares · Ordinary Shares · Paid-in · Accumulated · Shareholders’
	Shares	Amount	Shares	Amount	Capital	Deficit	Deficit
Balance – December 31, 2021	—	$—	7,187,500	$719	$24,281	$(25,475)	$(475)
Proceeds from Initial Public Offering Costs allocated to Public Warrants (net of offering costs)	—	—	—	—	5,286,660	—	5,286,660
Proceeds from issuance of Private Placement Warrants to Sponsor	—	—	—	—	14,645,000	—	14,645,000
Remeasurement for redeemable shares to redemption value	—	—	—	—	(19,955,941)	(13,253,382)	(33,209,323)
Net income	—	—	—	—	—	3,340,238	3,340,238
Balance – December 31, 2022	—	—	7,187,500	719	—	(9,938,620)	(9,937,901)
Conversion of Class B shares to Class A	7,187,500	719	(7,187,500)	(719)	—	—	—
Reduction of U/W Fee Payable	—	—	—	—	10,812,500	—	10,812,500
Contribution - shareholder non-redemption agreements	—	—	—	—	118,298	—	118,298
Shareholder non-redemption agreements	—	—	—	—	(118,298)	—	(118,298)
Face value of convertible note in excess of fair value	—	—	—	—	152,430	—	152,430
Remeasurement for Class A shares to redemption value	—	—	—	—	—	(5,813,213)	(5,813,213)
Net income	—	—	—	—	—	4,464,079	4,464,079
Balance – December 31, 2023	7,187,500	$719	—	$—	$10,964,930	$(11,287,754)	$(322,105)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.