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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): December 1, 2023 

 

ShoulderUp Technology Acquisition Corp.

(Exact name of Registrant as Specified in Its Charter)

 

Delaware   001-41076   87-1730135
(State or Other Jurisdiction
of Incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

125 Townpark Drive, Suite 300

Kennesaw, GA

   30144
(Address of Principal Executive Offices)   (Zip Code)

 

(970) 924-0446

(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Units, each consisting of one share of Class A common stock, $0.0001 par value, and one-half of one redeemable warrant   SUAC.U   The New York Stock Exchange
Class A common stock, $0.0001 par value   SUAC   The New York Stock Exchange
Redeemable warrants   SUAC.WS   The New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

 

Resignation of Chief Financial Officer and Director

 

On December 1, 2023, Grace Vandecruze resigned as Chief Financial Officer of ShoulderUp Technology Acquisition Corp., effective immediately.

 

Appointment of Chief Financial Officer 

 

On December 1, 2023, the Company’s board of directors appointed Rashaun Williams to serve as Chief Financial Officer of the Company, effective immediately. In this capacity, Mr. Williams will serve as the Company’s principal financial and accounting officer.

 

Rashaun Williams is a venture capitalist, family office investor and adjunct professor with over 150 investments under his belt and over 40 exits. Mr. Williams is currently a general partner in the MVP All-Star Fund, a late stage tech fund; a private equity investor out of his family office Value Investment Group and adjunct professor at Morehouse College. He co-founded venture capital fund Queensbridge Venture Partners where he was an early investor in companies like Robinhood, Coinbase, Casper, Ring, PillPack, Lyft & Dropbox. Over the last twenty years he has been primarily responsible for bringing capital to emerging, diverse and alternative markets while working at Wall Street firms such as Goldman Sachs, Wachovia Securities & Deutsche Bank. In 2007 he founded Dixsville Partners, a private equity fund investing in infrastructure development and mineral companies in West Africa. Mr. Williams has successfully started, invested in and exited several companies. With a passion for financial literacy and entrepreneurship Mr. Williams founded the Kemet Institute in 2001, a non-profit focused on providing free financial literacy, entrepreneurship and life skills classes to under-served communities and schools. In 2015 he was appointed to the Board of Trustees for Fisk University. He is a member of Kappa Alpha Psi, Inc. and summa cum laude graduate of Morehouse College.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ShoulderUp Technology Acquisition Corp.
     
Dated: December 1, 2023 By: /s/ Phyllis Newhouse
  Name:  Phyllis Newhouse
  Title: Chief Executive Officer

 

 

2

 

 

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Cover
Dec. 01, 2023
Document Type 8-K
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Document Period End Date Dec. 01, 2023
Entity File Number 001-41076
Entity Registrant Name ShoulderUp Technology Acquisition Corp.
Entity Central Index Key 0001885461
Entity Tax Identification Number 87-1730135
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 125 Townpark Drive
Entity Address, Address Line Two Suite 300
Entity Address, City or Town Kennesaw
Entity Address, State or Province GA
Entity Address, Postal Zip Code 30144
City Area Code 970
Local Phone Number 924-0446
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Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Units, each consisting of one share of Class A common stock, $0.0001 par value, and one-half of one redeemable warrant  
Title of 12(b) Security Units, each consisting of one share of Class A common stock, $0.0001 par value, and one-half of one redeemable warrant
Trading Symbol SUAC.U
Security Exchange Name NYSE
Class A common stock, $0.0001 par value  
Title of 12(b) Security Class A common stock, $0.0001 par value
Trading Symbol SUAC
Security Exchange Name NYSE
Redeemable warrants  
Title of 12(b) Security Redeemable warrants
Trading Symbol SUAC.WS
Security Exchange Name NYSE
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