DEFA14A: ShoulderUp Technology Acquisition Corp. Postpones Special Meeting of Stockholders

ShoulderUp Technology Acquisition Corp. has announced the postponement of its special meeting of stockholders from May 15, 2024, to May 17, 2024.

Summary

• ShoulderUp Technology Acquisition Corp. announced the postponement of its special meeting of stockholders.
• The meeting was originally scheduled for May 15, 2024, at 10:00 a.m. Eastern Time but will now be held on May 17, 2024, at 3:00 p.m. Eastern Time.
• The postponement allows stockholders to change their vote or withdraw redemption requests until the new meeting time.
• The record date for the Special Meeting remains April 19, 2024.
• Stockholders can still access the Special Meeting virtually using the 12-digit meeting control number printed on their proxy card.

Sentiment

Score: 5

Explanation: The announcement is neutral, simply stating the postponement of a meeting and providing instructions to shareholders.

Positives

• Stockholders who have already voted do not need to take any action if they do not want to change their vote.
• Stockholders who wish to change their vote or withdraw redemption requests have been given additional time to do so.

Risks

• The announcement contains forward-looking statements that are subject to various risks and uncertainties, which could cause actual results to differ materially.

Future Outlook

The company is focused on holding the Special Meeting to vote upon the Charter Amendment Proposal.

Management Comments

• 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 Phyllis Newhouse at (650) 276-7040 or phyllis@shoulderup.com.

Industry Context

This announcement is typical for SPACs as they navigate the process of securing shareholder approval for proposed business combinations or charter amendments.

Stakeholder Impact

• Shareholders are impacted by the postponement, as it affects the timing of their vote on the Charter Amendment Proposal.
• Shareholders who wish to redeem their shares or change their vote are given additional time to do so.

Next Steps

• The company will hold the Special Meeting of Stockholders on May 17, 2024, at 3:00 p.m. Eastern Time.
• Stockholders will vote on the Charter Amendment Proposal.

Key Dates

Keywords

Special Meeting, Stockholders, Postponement, Redemption, Proxy Statement, Charter Amendment, ShoulderUp, Technology Acquisition Corp, SPAC