Form 8-K - Current report
2024年5月29日 - 6:00AM
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2024-05-22
2024-05-22
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2024-05-22
2024-05-22
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2024-05-22
2024-05-22
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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): May 22, 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
5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
At
an extraordinary general meeting of shareholders held on May 22, 2024, the shareholders of PowerUp Acquisition Corp. (the “Company”)
approved two amendments to the Amended and Restated Memorandum and Articles of Association of the Company. The amendments serve to (i)
extend the date by which the Company must consummate an initial business combination from May 23, 2024 to February 17, 2025 and (ii)
remove the requirements limiting the Company’s ability to consummate an initial business combination if it would have less than
$5,000,001 in net tangible assets prior to or upon consummation of such initial business combination.
Following
receipt of shareholder approval of the amendments, the Company filed the amendments with the Cayman Islands Registrar. The foregoing
summary is qualified by the full text of the Amendment to the Amended and Restated Memorandum and Articles of Association, which is included
as Exhibit 3.1 hereto and is incorporated herein by reference.
Item
5.07. Submission of Matters to a Vote of Security Holders.
On
May 22, 2024, the Company held an extraordinary general meeting of shareholders (the “Meeting”) to approve, among other things,
the amendments to the Company’s Amended and Restated Memorandum and Articles of Association of the Company described in Item 5.03
above. As of the close of business on April 2, 2024, the record date for the Meeting, there were 8,991,229 Class A ordinary shares of
the Company issued and outstanding. A total of 7,816,061 Class A ordinary shares were present or represented by proxy at the Meeting,
representing approximately 86.93% of the issued and outstanding Class A ordinary shares as of the record date for the Meeting, which
constituted a quorum to conduct business.
Set
forth below are the final voting results on the proposals considered and voted upon at the Meeting, each of which is more fully described
in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on May 1, 2024 (the “Proxy
Statement”). Capitalized terms used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given
to them in the Proxy Statement.
1. The
Extension Amendment Proposal. To consider and vote upon a proposal, by special resolution, to extend the date by which the
Company must consummate an initial business combination from May 23, 2024 to February 17, 2025 by amending the Company’s
Amended and Restated Memorandum and Articles of Association. This proposal was approved and the final voting results were as
follows:
For |
|
Against |
|
Abstain |
7,753,807 |
|
62,254 |
|
0 |
2. The
NTA Proposal. To consider and vote upon a proposal to approve, by special resolution, to remove the requirements limiting
the Company’s ability to consummate an initial business combination if it would have less than $5,000,001 in net tangible
assets prior to or upon consummation of such initial business combination by amending the Company’s Amended and Restated
Memorandum and Articles of Association. This proposal was approved and the final voting results were as follows:
For |
|
Against |
|
Abstain |
7,816,061 |
|
0 |
|
0 |
The
Adjournment Proposal described in the Proxy Statement was not presented at the Meeting because there were sufficient votes at the time
of the Meeting to approve the adoption of the other proposals.
As
described in the Proxy Statement, the Company provided its public shareholders with the opportunity to have all, or a portion, of their
Class A ordinary shares redeemed for cash in connection with the Meeting. Holders of 1,226,085 Class A ordinary shares validly elected
to redeem their shares for a full pro rata portion of the trust account holding the proceeds from the Company’s initial public
offering.
Item
9.01. Financial Statements and Exhibits.
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:
May 28, 2024 |
|
|
Exhibit 3.1
v3.24.1.1.u2
Cover
|
May 22, 2024 |
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
May 22, 2024
|
Current Fiscal Year End Date |
--12-31
|
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
|
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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PowerUp Acquisition (NASDAQ:PWUPW)
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