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ESTERO, FL - Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP), a micro-cap company currently valued at $20 million, plans to introduce its new sublingual pre-workout supplement, BUZZ BOMB, at two major fitness conventions in early August, according to a company press release. The stock has shown notable momentum, gaining over 28% in the past week according to InvestingPro data.
The product, which contains 50mg of caffeine delivered through sublingual technology, will debut at FitCon in Salt Lake City on August 1-2 and FitExpo in Anaheim on August 2-3. This launch comes at a crucial time for Aspire, with InvestingPro analysis indicating weak financial health scores and the company’s next earnings report scheduled for August 13.
Unlike traditional pre-workout supplements that require mixing with water and consumption well before exercise, BUZZ BOMB is designed to be placed under the tongue for rapid absorption. The company states this allows for nearly immediate energy delivery compared to the typical 20-30 minute activation time of conventional products.
The supplement will be available in four flavors and packaged in single-use packets intended for use immediately before or during workouts.
As a gold sponsor at FitCon, which expects approximately 20,000 attendees, Aspire will provide product samples to all attendees and maintain a booth in the convention’s "Sponsor Alley." At FitExpo, which anticipates over 33,000 attendees, the company will occupy a booth near the entrance and distribute sample packs to all entrants.
Company representatives will conduct "Feel the Buzz" contests at both events, offering 250 branded t-shirts as prizes while also selling the product on-site.
Michael Howe, Chief Executive Officer of Aspire, described the conventions as "ideal venues" for introducing the product, which the company characterizes as offering benefits of speed, convenience, and precise energy management.
Aspire Biopharma develops supplement delivery technology and is headquartered in Estero, Florida. The company faces some financial challenges, with a current ratio of 0.22 indicating potential liquidity concerns. Investors can access 8 additional key insights about ASBP through InvestingPro’s comprehensive analysis platform.
In other recent news, Aspire Biopharma Holdings has relocated its headquarters to Estero, Florida. The company’s Board of Directors approved this move, and the new principal executive office is now situated at 23150 Fashion Drive, Suite 232. Additionally, Aspire Biopharma has appointed Michael C. Howe as the new CEO. Howe brings over four decades of experience in the consumer and healthcare sectors and will lead the company as it prepares for upcoming clinical trials and the launch of a new pre-workout supplement expected in 2025.
Aspire Biopharma has also reached a settlement with Cobra Alternative Capital Strategies LLC and Blackstone Capital Advisors, Inc. This agreement resolves issues related to notices of default and amends terms of existing loan agreements. As part of the settlement, the company has extended the maturity dates of certain promissory notes to August and September 2025. Additionally, Aspire Biopharma will issue 625,000 shares of common stock to Blackstone Capital Advisors, Inc. and file a registration statement for these shares by mid-May 2025. Lock-up restrictions on shares held by the lenders will be lifted, allowing for transfer to the Direct Registration System.
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