PowerUp Sponsor LLC - 18 May 2023 Form 4 Insider Report for PowerUp Acquisition Corp. (ASBP)

Role: 10%+ Owner
Signature: /s/ Gabriel Schillinger Name: Gabriel Schillinger Title: Managing Member
Issuer symbol: ASBP
Transactions as of: 18 May 2023
Net transactions value: $0
Form type: 4
Filing time: 30 May 2023, 15:08:54 UTC
Previous filing: 17 Feb 2022
Next filing: 22 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PWUP	Class A Ordinary Shares, par value $0.0001	Conversion of derivative security		+7,187,500			7,187,500	18 May 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PWUP	Class B Ordinary Shares	Conversion of derivative security		-7,187,500	-100%		0	18 May 2023	Class A Ordinary Shares	7,187,500		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 18, 2023, the Reporting Person elected to convert the 7,187,500 Class B ordinary shares ("Class B Shares") of PowerUp Acquisition Corp. (the "Issuer") held by the Reporting Person into Class A ordinary shares of the Issuer ("Class A Shares") on a one-for-one basis. As a result, 7,187,500 of the Class B Shares were cancelled, and 7,187,500 Class A Shares were issued to the Reporting Person on May 18, 2023.

Content

On May 18, 2023, the Reporting Person elected to convert the 7,187,500 Class B ordinary shares ("Class B Shares") of PowerUp Acquisition Corp. (the "Issuer") held by the Reporting Person into Class A ordinary shares of the Issuer ("Class A Shares") on a one-for-one basis. As a result, 7,187,500 of the Class B Shares were cancelled, and 7,187,500 Class A Shares were issued to the Reporting Person on May 18, 2023.