PowerUp Acquisition announced that its shareholders meeting originally scheduled for today May 17, 2024, has been postponed to 9 a.m. Eastern on May 21. At the meeting, shareholders will be asked to vote on an extension proposal that would push the SPAC’s deadline from May 23 to Feb. 17, 2025.
As a result of this change, the redemption deadline is now 5 p.m. today.
PowerUp has a merger deal with Visiox Pharmaceuticals.
Redemptions of nearly 94% left the SPAC 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.
