ShoulderUp Technology Acquisition Corp. Announces Proposed $7 Million PIPE and ELOC
Deal News | Apr 22, 2025 | EIN
ShoulderUp Technology Acquisition Corp. (ShoulderUp), a special purpose acquisition company (SPAC), announced plans for a proposed $7 million private investment in public equity (PIPE) and a potential equity line of credit (ELOC) to facilitate its impending business combination with SEE ID, Inc. The offering will be exempt from registration under the Securities Act of 1933. The proceeds will be used to meet closing conditions and fund operations of the new combined entity. Eligible institutional buyers and international investors might partake pursuant to applicable U.S. laws. This announcement complies with Rule 135c, and neither offers nor solicits securities sales.
Sectors
- Financial Services
- Technology
Geography
- United States – ShoulderUp Technology Acquisition Corp. and its activities occur within the U.S., complying with the U.S. Securities Act of 1933 and other regulatory frameworks.
Industry
- Financial Services – Involves SPAC and PIPE financing, which are key components of financial services in investment and securities markets.
- Technology – SEE ID, Inc. appears to be a technology company, and this transaction involves a tech-focused acquisition strategy.
Financials
- $7 Million – The proposed amount for the PIPE (Private Investment in Public Equity) and potential ELOC (Equity Line of Credit) to support business combination and subsequent operations.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ShoulderUp Technology Acquisition Corp. | SPAC | Company | A special purpose acquisition company formed to enter into mergers and similar business combinations. |
| SEE ID, Inc. | Target Company | Company | A company set to be combined with ShoulderUp Technology Acquisition Corp. through a business transaction. |