PowerUp Acquisition filed a proxy and called a May 17 meeting for shareholders to voten on extending the SPAC’s completion deadline from May 23 to Feb. 17, 2025.
The SPAC has a merger deal with Visiox Pharmaceuticals.
Redemptions of nearly 94% left PowerUp with about $19 million in trust ahead of an extension vote a year ago. The SPAC had raised $287.5 million in a February 2022 IPO.
PowerUp last July sold its sponsor stake to SRIRAMA Associates.
Visiox’s pipeline of an FDA Approved drug candidate, and other late-stage clinical drug candidates, includes treatments for patients with ocular hypertension, open angle glaucoma, and post-surgical inflammation and pain. Read more.
