shoulderup technology acquisition corp (suac) is a blank check company led by industry veterans targeting tech and cybersecurity. we have the most diverse group of leaders -50% women, 50% people of color on the board of directors, 100% people of color on the management team. the kennesaw, ga-based company plans to raise $250 million by offering 25 million units at $10. each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. at the proposed deal size, shoulderup technology acquisition would command a market value of $348 million. the company is led by ceo and director phyllis newhouse, the founder of nonprofit shoulderup and founder and ceo of cybersecurity firm xtremesolutions, and chairman vincent stewart, the chief innovation and business intelligence officer of ankura and former lieutenant general in the us marine corps who also served as deputy director at us cyber command. the company plans to leverage management's experience and target
Company profile
Ticker
SUAC, SUAC-UN, SUAC-WT
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
871730135
SUAC stock data
Latest filings (excl ownership)
10-K
2023 FY
Annual report
18 Apr 24
PRE 14A
Preliminary proxy
12 Apr 24
NT 10-K
Notice of late annual filing
27 Mar 24
425
Business combination disclosure
22 Mar 24
8-K
Entry into a Material Definitive Agreement
22 Mar 24
8-K
Amendments to Articles of Incorporation or Bylaws
2 Jan 24
25-NSE
Exchange delisting
19 Dec 23
DEF 14A
Definitive proxy
14 Dec 23
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
4 Dec 23
PRE 14A
Preliminary proxy
4 Dec 23
Latest ownership filings
SC 13G
AQR CAPITAL MANAGEMENT LLC
4 Mar 24
SC 13G/A
Shaolin Capital Management LLC
22 Feb 24
SC 13G
MOORE CAPITAL MANAGEMENT, LP
14 Feb 24
SC 13G
FIR TREE CAPITAL MANAGEMENT LP
14 Feb 24
SC 13G/A
Radcliffe Capital Management, L.P.
14 Feb 24
SC 13G
CALAMOS INVESTMENT TRUST/IL
14 Feb 24
SC 13G/A
Saba Capital Management, L.P.
9 Feb 24
SC 13G/A
HIGHBRIDGE CAPITAL MANAGEMENT LLC
2 Feb 24
3/A
Rashaun Williams
18 Dec 23
3
Rashaun Williams
13 Dec 23
Financial summary
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Annual (USD) | Dec 22 | Dec 21 | |
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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) | 130.30 k | 130.30 k | 130.30 k | 130.30 k | 130.30 k | 130.30 k |
Cash burn (monthly) | 239.45 k | 28.01 k | 98.22 k | (no burn) | 158.68 k | 398.61 k |
Cash used (since last report) | 1.60 mm | 186.95 k | 655.62 k | n/a | 1.06 mm | 2.66 mm |
Cash remaining | -1.47 mm | -56.65 k | -525.32 k | n/a | -928.96 k | -2.53 mm |
Runway (months of cash) | -6.1 | -2.0 | -5.3 | n/a | -5.9 | -6.3 |
Institutional ownership, Q3 2023
13F holders | Current |
---|---|
Total holders | 49 |
Opened positions | 3 |
Closed positions | 1 |
Increased positions | 4 |
Reduced positions | 3 |
13F shares | Current |
---|---|
Total value | 216.25 mm |
Total shares | 22.29 mm |
Total puts | 0.00 |
Total calls | 1.08 mm |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
ShoulderUP Technology Sponsor | 11.80 mm | $0.00 |
Periscope Capital | 1.55 mm | $38.68 mm |
Shaolin Capital Management | 1.10 mm | $28.00 k |
Calamos Advisors | 1.00 mm | $25.00 mm |
Saba Capital Management | 726.05 k | $14.88 mm |
EHP Funds | 638.76 k | $15.97 mm |
Castle Creek Arbitrage | 416.25 k | $8.53 mm |
Sculptor Capital | 325.00 k | $6.66 mm |
Spartan Fund Management | 316.66 k | $7.92 mm |
Polar Asset Management Partners | 312.50 k | $7.81 mm |