ShoulderUp Technology Acquisition Corp. (“ShoulderUp” or the “Company”) (NYSE:SUAC, SUAC, SUAC.WS))))) today announced the estimated redemption price per share at the time of the Special Meeting is expected to be approximately $10.55 based on the aggregate amount in the trust account of $43,839,754 as of November 9, 2023 ((including interest not previously released to the Company but net of expected franchise and income taxes payable), a decrease from the $10.63 originally reported in the Company’s definitive proxy statement (as supplemented, the “Proxy Statement“) in connection with the Special Meeting filed with the U.S. Securities and Exchange Commission (the “SEC“) on October 25, 2023, which was not calculated based on an amount in trust net of expected franchise and income taxes payable. The closing price of ShoulderUp’s common stock on November 9, 2023 was $10.65.
Stockholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not take any action. Stockholders as of the record date can vote, even if they have subsequently sold their shares. Any stockholders who wish to change their vote and need assistance should contact Okapi Partners LLC at (212) 297-0720, or info@okapipartners.com. Stockholders who wish to withdraw their previously submitted redemption requests may do so prior to the rescheduled meeting by requesting that the transfer agent return such Public Shares prior to 2:00 p.m. Eastern Time on November 15, 2023.
