ShoulderUp Technology Acquisition Corp. Announces Letter of Intent for a Business Combination with Airspace Experience Technologies, Inc.
October 16 2023 - 5:30AM
ShoulderUp Technology Acquisition Corp. (“ShoulderUp” or the
“Company”) (NYSE: SUAC.U; SUAC; SUAC.WS) today announced that it
has entered into
a non-binding letter of intent for a
potential business combination with Airspace Experience
Technologies, Inc., a pioneer in the urban mobility market. The
Company anticipates entering into a definitive agreement by the end
of the year. However, no assurances can be made that the Company
will successfully negotiate and enter into a definitive agreement
for a business combination or that the Company will be successful
in completing the business combination.
About ShoulderUp
ShoulderUp is a blank check company, also commonly referred to
as a special purpose acquisition company, or SPAC, formed for the
purpose of entering into a merger, capital stock exchange, asset
acquisition, stock purchase reorganization or similar business
combination with one or more businesses or entities.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements regarding the estimated per share redemption
price and related matters, as well as all other statements other
than statements of historical fact included in this Form 8-K are
forward-looking statements. When used in this Form 8-K, words such
as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the SEC. All subsequent
written or oral forward-looking statements attributable to the
Company or persons acting on its behalf are qualified in their
entirety by this paragraph. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the “Risk Factors” section of
the Company’s Annual Report on Form 10-K, subsequent quarterly
reports on Form 10-Q and initial public offering prospectus. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
No Offer or Solicitation
This press release is for informational purposes only and does
not constitute an offer or a solicitation of an offer to buy or
sell securities, assets or the business described herein or a
commitment to the Company nor is it a solicitation of any vote,
consent or approval in any jurisdiction pursuant to or in
connection with the potential business combination or otherwise,
nor shall there be any offer, sale, issuance or transfer of
securities in any jurisdiction in contravention of applicable
law.
ShoulderUp Contact:
ShoulderUp Technology Acquisition Corp, 125 Townpark Drive,
Suite 300, Kennesaw, GA 30144, (650)
276-7040; info@okapipartners.com
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