PowerUp Acquisition Corp. (PWUPU) Prices $250M IPO

PowerUp Acquisition Corp. announced the pricing of its $250 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PWUPU” Friday, February 18.

The new SPAC intends to identify and acquire a business within the interactive media, digital media, sports, entertainment, and/or leisure, with a particular focus on video gaming, gaming adjacent, and new metaverse video gaming businesses. PowerUp is led by Bruce Hack, Jack Tretton, Michael Olson, and Gabriel Schillinger. Mike Vorhaus serves as a senior advisor.

Total SPAC deal count for 2022 year-to-date is now 41. This offering is expected to close on Wednesday, February 23.

Citigroup Global Markets Inc. is acting as sole book-running manager for the offering and Odeon Capital Group, LLC is acting as co-manager of the offering. McDermott Will & Emery LLP is serving as Issuer’s Counsel with Proskauer Rose LLP serving as Underwriter’s Counsel.  Marcum LLP serves as an auditor.  American Stock Transfer & Trust Company, LLC is acting as trustee.