The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The focus of the team is 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. The management team is led by Bruce Hack, Jack Tretton, Michael Olson and Gabriel Schillinger. Mike Vorhaus serves as senior advisor.
Company profile
Ticker
PWUP, PWUPU
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
PWUP stock data
Latest filings (excl ownership)
10-Q
2023 Q3
Quarterly report
7 Nov 23
8-K
Entry into a Material Definitive Agreement
23 Aug 23
8-K
Other Events
14 Aug 23
10-Q
2023 Q2
Quarterly report
8 Aug 23
8-K
Entry into a Material Definitive Agreement
18 Jul 23
8-K/A
Submission of Matters to a Vote of Security Holders
24 May 23
8-K
Amendments to Articles of Incorporation or Bylaws
23 May 23
8-K
Entry into a Material Definitive Agreement
15 May 23
10-Q
2023 Q1
Quarterly report
11 May 23
8-K
Entry into a Material Definitive Agreement
9 May 23
Latest ownership filings
SC 13D
SRIRAMA Associates, LLC
5 Sep 23
3
SURENDRA K AJJARAPU
28 Aug 23
3
Mayur Mansukhlal Doshi
28 Aug 23
3
Avinash R Wadhwani
28 Aug 23
SC 13G/A
PowerUp Sponsor LLC
28 Aug 23
3
MICHAEL L PETERSON
28 Aug 23
3
Donald G. Fell
28 Aug 23
3
Howard A. Doss
25 Aug 23
4
Change in insider ownership
22 Aug 23
SC 13G/A
PowerUp Sponsor LLC
30 May 23
Financial summary
| Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 22 | |
|---|---|---|
| Revenue | ||
| Cost of revenue | ||
| Operating income | ||
| Operating margin | ||
| Net income | ||
| Net profit margin | ||
| Cash on hand | ||
| Change in cash | ||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 280.00 | 280.00 | 280.00 | 280.00 | 280.00 | |
| Cash burn (monthly) | 41.64 k | 44.40 k | 108.25 k | 104.30 k | 15.18 k | |
| Cash used (since last report) | 96.46 k | 102.87 k | 250.76 k | 241.62 k | 35.16 k | |
| Cash remaining | -96.18 k | -102.59 k | -250.48 k | -241.34 k | -34.88 k | |
| Runway (months of cash) | -2.3 | -2.3 | -2.3 | -2.3 | -2.3 | |
Institutional ownership, Q2 2023
| 13F holders | Current |
|---|---|
| Total holders | 50 |
| Opened positions | 19 |
| Closed positions | 28 |
| Increased positions | 8 |
| Reduced positions | 20 |
| 13F shares | Current |
|---|---|
| Total value | 16.08 bn |
| Total shares | 19.24 mm |
| Total puts | 0.00 |
| Total calls | 750.00 k |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| PowerUp Sponsor | 7.19 mm | $74.39 mm |
| Periscope Capital | 1.61 mm | $1.67 bn |
| Adage Capital Partners GP, L.L.C. | 1.05 mm | $52.61 mm |
| Saba Capital Management | 983.60 k | $49.28 mm |
| Linden Advisors | 900.00 k | $49.50 mm |
| CNH Partners | 797.63 k | $1.60 bn |
| Linden Capital | 650.00 k | $0.00 |
| Sculptor Capital | 500.00 k | $27.48 mm |
| Kepos Capital | 500.00 k | $1.60 mm |
| Verition Fund Management | 432.76 k | $21.68 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 18 Aug 23 | PowerUp Sponsor | Class A Ordinary Shares, par value $0.0001 | Sell | Dispose S | No | No | 0 | 4,317,500 | 0.00 | 2,870,000 |