ShoulderUp Technology Acquisition registered to raise up to $250 million through an IPO of 25 million units, each consisting of one share of Class A common stock and one-half of a warrant.
The SPAC expects its initial focus to be on technology, and cybersecurity platforms.
CEO Phyllis Newhouse is an entrepreneur, retired military senior non-commissioned officer, founder and CEO of XtremeSolutions, an Atlanta-based cybersecurity firm. She is also a founder, CEO and director of Athena Technology Acquisition
Citigroup is lone manager of the offering. The underwriters have the option to purchase up to 3.75 million additional units to cover over-allotments, if any.
ShoulderUp said it intends to apply for a listing on the NYSE under SUAC.U. Read more.
