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ASBP on Nasdaq

Aspire-Lakewood Holdings, Inc.

Aspire-Lakewood Holdings, Inc. is a pharmaceutical preparations company in the Cayman Islands.1 It is headquartered in Estero, Florida.1 Its shares trade on Nasdaq under the symbol ASBP.1

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Last updated Oct 21, 2026.

Overview

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  • TickerASBP on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersEstero, Florida1
  • Incorporated inCayman Islands2
  • Business address23150 Fashion Drive, Suite 232, Estero, Fl 339282
  • Filer category, Emerging growth company2

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Combination we were a privately held Puerto Rico corporation incorporated in September 2021. Our internet address is www.aspirebiolabs.com.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-1.9%Gross margin4
-312016.9%Operating margin4
-394725.1%Net margin4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 99% of the revenue Aspire-Lakewood Holdings, Inc. broke down this way in fiscal 2025.

  1. United States$6.2K499%
  2. Canada$3040%
  3. United Kingdoms$1940%
Regions by year
Regions2025
United States$6.2K
Canada$30
United Kingdoms$19

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue1¢$6.3K
  • Research and development99¢$923.9K

Out of $6.2K in revenue.4 The company lost money this year.

Financial statements

Operating income4-$19.4M in 2025+1498% since 2024
-$20.0M-$15.0M-$10.0M-$5.0M02024: -$1.2M-$1.2M20242025: -$19.4M-$19.4M2025+1498%
Net income564-$24.5M in 2025
-$30.0M-$20.0M-$10.0M0$10.0M2022: $3.3M$3.3M20222023: $4.5M$4.5M2023+34%2024: -$1.3M-$1.3M20242025: -$24.5M-$24.5M2025+1769%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Net revenue$6.2K
Cost of revenue$6.3K
Gross margin-$116
General and administrative (including stock-based compensation of $14.1 million and $0, respectively)$17.6M$940.4K
Research and development$923.9K$144.4K
Sales and marketing$789.8K$126.1K
Total operating expenses$19.4M$1.2M
Loss from operations-$19.4M-$1.2M
Interest expense-$8.5M-$98.0K
Change in fair value of liabilities$3.9M
Initial recognition of forward purchase liability-$95.1K
Loss on extinguishment of debt-$364.1K
Total other expense, net-$5.1M-$98.0K
Loss before provision for income taxes-$24.5M-$1.3M
Income tax expense-$1.0K
Net loss-$24.5M-$1.3M
Weighted average shares outstanding of Common Stock, basic1.5M shares689.9K shares
Weighted average shares outstanding of Common Stock, diluted1.5M shares689.9K shares
Earnings Per Share, Diluted-$16.38-$1.90
Stock based compensation$14.1M$0

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Corporate structure

Aspire-Lakewood Holdings, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Aspire-Lakewood Holdings, Inc.

  • HIGHBRIDGE CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Aspire-Lakewood Holdings, Inc., latest Aug 14, 2026 (2 filings since May 15, 2026)
  • Gary Shirinyan Filed SCHEDULE 13G on Aspire-Lakewood Holdings, Inc., latest Aug 10, 2026
  • Lance Friedman Filed SCHEDULE 13G/A on Aspire-Lakewood Holdings, Inc., latest Aug 6, 2026 (11 filings since Feb 26, 2025)
  • Alois Ryan Rubenbauer Iii. Filed SCHEDULE 13G on Aspire-Lakewood Holdings, Inc., latest Jul 2, 2026
  • ARDSLEY ADVISORY PARTNERS LP Filed SCHEDULE 13G/A on Aspire-Lakewood Holdings, Inc., latest May 13, 2026 (2 filings since Feb 12, 2026)
  • Harraden Circle Investments, LLC Filed SCHEDULE 13G/A on Aspire-Lakewood Holdings, Inc., latest May 15, 2025 (2 filings since May 28, 2024)
  • BANK OF NOVA SCOTIA Filed SC 13G/A on Aspire-Lakewood Holdings, Inc., latest Jul 30, 2024 (3 filings since Dec 26, 2023)
  • GLAZER CAPITAL, LLC Filed SC 13G/A on Aspire-Lakewood Holdings, Inc., latest Feb 14, 2024 (2 filings since Feb 14, 2023)
  • Saba Capital Management, L.P. Filed SC 13G/A on Aspire-Lakewood Holdings, Inc., latest Feb 8, 2024 (3 filings since Feb 28, 2022)
  • ADAGE CAPITAL PARTNERS GP, L.L.C. Filed SC 13G/A on Aspire-Lakewood Holdings, Inc., latest Feb 7, 2024 (2 filings since Mar 7, 2022)
  • SRIRAMA Associates, LLC Filed SC 13D on Aspire-Lakewood Holdings, Inc., latest Sep 5, 2023
  • PowerUp Sponsor LLC Filed SC 13G/A on Aspire-Lakewood Holdings, Inc., latest Aug 28, 2023 (3 filings since Feb 14, 2023)
  • Aspire-Lakewood Holdings, Inc. Estero, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Aspire-Lakewood Holdings, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Inventory

ItemLatestA year beforeChange
Inventory, total$253.2K4 Dec 31, 2025

Leadership

Who has led Aspire-Lakewood Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jack Tretton2022
  2. Surendra K. Ajjarapu2023

President

  1. Gabriel Schillinger2022

Chief financial officer

  1. Howard A. Doss2023
2025
Board members and other officers (10)

Former names

  • Aspire Biopharma Holdings, Inc.Feb 20, 2025 to Sep 9, 20262
  • PowerUp Acquisition Corp.Mar 16, 2021 to Feb 19, 20252

Timeline

  1. Sep 29, 20268-K Change of auditor22
  2. Sep 9, 20268-K Bylaws or fiscal year changed; Other events23
  3. Sep 8, 20268-K Regulation FD disclosure24
  4. Aug 19, 20268-K Regulation FD disclosure25
  5. Aug 10, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares26
  6. Jul 20, 20268-K Other events27
  7. Jun 22, 20268-K Shareholder vote28
  8. Jun 12, 20268-K Entered a material agreement; Regulation FD disclosure29
  9. Jun 12, 20268-K Other events30
  10. May 14, 20268-K Bylaws or fiscal year changed31
  11. Apr 20, 20268-K Regulation FD disclosure32
  12. Apr 17, 20268-K Entered a material agreement; Bylaws or fiscal year changed33
  13. Aug 28, 2023New chief executive Surendra K. Ajjarapu becomes CEO10
  14. Feb 17, 2022New chief executive Jack Tretton becomes CEO11

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202634

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

220 filings to the SEC since October 2021: 5 annual reports, 18 quarterly reports, 61 major events, 18 insider forms, 36 large holders, 82 other. The latest 20:

  1. Sep 29, 20268-K EDGAR
  2. Sep 9, 20268-K EDGAR
  3. Sep 8, 20268-K EDGAR
  4. Aug 19, 20268-K EDGAR
  5. Aug 14, 2026SCHEDULE 13G/A EDGAR
  6. Aug 13, 202610-Q EDGAR
  7. Aug 10, 20268-K EDGAR
  8. Aug 10, 2026SCHEDULE 13G EDGAR
  9. Aug 6, 2026SCHEDULE 13G/A EDGAR
  10. Jul 20, 20268-K EDGAR
  11. Jul 2, 2026SCHEDULE 13G EDGAR
  12. Jun 22, 20268-K EDGAR
  13. Jun 12, 20268-K EDGAR
  14. Jun 12, 20268-K EDGAR
  15. May 15, 202610-Q EDGAR
  16. May 15, 2026SCHEDULE 13G EDGAR
  17. May 14, 20268-K EDGAR
  18. May 13, 2026SCHEDULE 13G/A EDGAR
  19. May 12, 2026DEFR14A EDGAR
  20. May 8, 2026DEF 14A EDGAR

The 220 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

5 open-market trades by officers, directors and large owners since October 2021: 4 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 5, 2025Fell Donald G.DirectorBuy10,500$0.39$4.1KForm 4
Jun 5, 2025Fell Donald G.DirectorBuy10,500$0.39$4.1KForm 4
Jun 4, 2025Fell Donald G.DirectorBuy9,500$0.39$3.7KForm 4
Jun 4, 2025Fell Donald G.DirectorBuy9,500$0.39$3.7KForm 4
Aug 18, 2023PowerUp Sponsor LLC10% ownerSale4,317,500Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Jane Street Group, LLC14,830$79.2K0.0%New
Geode Capital Management, LLC10,474$55.9K0.0%New
Vanguard Capital Management LLC10,408$55.6K0.0%New
Vanguard Fiduciary Trust Co10,081$53.8K0.0%New
Crewe Advisors LLC677$3.6K0.0%New
Tower Research Capital LLC (TRC)283$1.5K0.0%New
Toronto Dominion Bank166$8860.0%New
Crossingbridge Advisors, LLC20$1070.0%New
SBI Securities Co., Ltd.2$110.0%New
Barclays PLC1$50.0%New
UBS Group AG1$50.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Aspire-Lakewood Holdings, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAspire-Lakewood Holdings, Inc.1
  • CIK0001847345
  • Employer ID (EIN)33-34677443
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address23150 Fashion Drive, Suite 232, Estero, FL 339281
  • Phone561-704-85271
  • Shares outstanding1,402,557 as of Aug 7, 20268
  • Public float$17.4M as of Dec 31, 20253
  • AuditorTurner, Stone & Company L.L.P, Dallas, Texas PCAOB ID 76; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMar 16, 20211
  • Filings226 in all: 8-K (59), CORRESP (16), 10-Q (14), 3 (14), UPLOAD (14), SCHEDULE 13G/A (13), SC 13G/A (9), 425 (8)1
    All 37 form types

    SC 13G (8), EFFECT (7), S-4/A (7), S-1 (6), DEF 14A (5), PRE 14A (5), SCHEDULE 13G (5), 10-K (4), 10-Q/A (4), 4 (3), S-1/A (3), 8-K/A (2), DRS/A (2), NT 10-Q (2), S-4 (2), 10-K/A (1), 25-NSE (1), 4/A (1), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), DEFA14A (1), DEFR14A (1), DRS (1), DRSLTR (1), NT 10-K (1), RW (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) May 8, 2026
    Latest 8-K (8-K) Sep 29, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareASBPNasdaq
Warrants, each exercisable for one share of common stockASBPWNasdaq

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Aspire-Lakewood Holdings, Inc. names in Item 1A of its 10-K filed Mar 30, 2026: 35 risks under these headings, as written.3

  • Risks related to our Business
  • Aspire has a limited operating history upon which investors can evaluate Aspire’s performance, and accordingly, Aspire’s prospects must be considered in light of the risks that any new company encounters.
  • Aspire has incurred net losses in every year since its inception and anticipates that it will continue to incur substantial and increasing net losses in the foreseeable future, especially if Aspire faces difficulties in obtaining capital.
  • Aspire will require substantial additional financing to achieve its goals, and a failure to obtain this necessary capital when needed could force Aspire to delay, limit, reduce or terminate its product development or commercialization efforts.
  • Aspire may implement new lines of business or offer new products and services within existing lines of business.
  • Aspire relies on other companies to provide components and services for its product candidates.
  • Aspire relies on various intellectual property rights, including trademarks, in order to operate its business.
  • Instaprin Pharmaceuticals’ former Chief Executive officer, Donald A. Milne III, was convicted, on a conspiracy to commit securities fraud charge.
  • Aspire’s success depends on the experience and skill of the board of directors, its executive officers and key employees. If it is not successful in attracting and retaining highly qualified personnel, Aspire may not be able to successfully implement its business strategy.
  • Although dependent on certain key personnel, Aspire does not have any key person life insurance policies on any such people.
  • Damage to Aspire’s reputation could negatively impact its business, financial condition and results of operations.
  • Aspire’s business could be negatively impacted by cyber security threats, attacks and other disruptions.
The other 24 risks
  • Security breaches of confidential customer information, in connection with Aspire’s electronic processing of credit and debit card transactions, or confidential employee information may adversely affect Aspire’s business as we gain access to such information.
  • Aspire’s internal computer systems, or those used by third party contractors or consultants, may fail or suffer security breaches.
  • Aspire operates in a highly regulated environment, and if Aspire is found to be in violation of any of the federal, state, or local laws or regulations applicable to it, Aspire’s business could suffer.
  • Our business, operations, financial position and clinical development plans and timelines, could be materially adversely affected by the continuing military action in Ukraine and the war between Israel and Hamas.
  • International trade disputes, including U.S. trade tariffs and retaliatory tariffs, could adversely impact our business.
  • Significant political, trade, regulatory developments, and other circumstances beyond our control, could have a material adverse effect on our financial condition or results of operations.
  • We are dependent on a limited number of suppliers and service providers which subjects our business and results of operations to risks of supplier business interruptions.
  • Risks related to our Products and Their Development
  • Aspire’s technology platforms and product candidates are based on novel technologies, and the development and regulatory approval pathway for such product candidates is unproven (in that all aspirin products previously approved by the FDA were administered orally rather than sublingually) and may never lead to marketable products. Even if Aspire obtains regulatory approval of its product candidates, the products may not gain market acceptance among physicians, patients, hospitals and others in the medical community.
  • Current Development Status of Aspirin Product
  • Our business is highly dependent on the success of our lead product candidate, high-dose sublingual aspirin, which will require significant additional clinical testing before Aspire can seek regulatory approval and potentially launch commercial sales.
  • Clinical development involves a lengthy and expensive process with uncertain outcomes, and results of earlier studies and trials may not be predictive of future clinical trial results. Aspire’s clinical trials may fail to demonstrate adequately the safety and efficacy of one or more of its product candidates, which would prevent or delay regulatory approval and commercialization.
  • Aspire’s product candidates may cause undesirable side effects or have other properties that could halt their clinical development, prevent their regulatory approval, limit their commercial potential, if approved, or result in significant negative consequences.
  • If Aspire encounters difficulties enrolling patients in its clinical trials, Aspire’s clinical development activities could be delayed or otherwise adversely affected.
  • Aspire relies and will rely on third parties to conduct its clinical trials, which are expensive, time consuming, and difficult to design and implement. If these third parties do not successfully carry out their contractual duties or meet expected deadlines, Aspire may not be able to obtain regulatory approval of or commercialize its product candidates.
  • If Aspire fails to develop additional product candidates, its commercial opportunity will be limited.
  • Aspire is subject to a multitude of manufacturing and supply chain risks, any of which could substantially increase its costs and limit the supply of its product candidates.
  • Aspire currently has no marketing and sales organization and has no experience in marketing products. If Aspire is unable to establish marketing and sales capabilities or enter into agreements with third parties to market and sell its product candidates, Aspire may not be able to generate product revenue.
  • A variety of risks associated with marketing Aspire’s product candidates internationally could materially adversely affect Aspire’s business.
  • Aspire faces significant competition from other biotechnology and pharmaceutical companies, and its operating results will suffer if it fails to compete effectively.
  • Aspire’s employees, independent contractors, consultants, commercial partners and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • If product liability lawsuits are brought against Aspire, it may incur substantial liabilities and may be required to limit commercialization of Aspire’s product candidates.
  • Aspire relies and expects to continue to rely on third parties to manufacture its clinical product supplies, and Aspire intends to rely on third parties to produce and process its product candidates, if approved, and commercialization of any of Aspire’s product candidates could be stopped, delayed or made less profitable if those third parties fail to obtain approval of government regulators or fail to provide Aspire with sufficient quantities of drug product at acceptable quality levels or prices.
  • If Aspire’s third-party manufacturers use hazardous and biological materials in a manner that causes injury or violates applicable law, Aspire may be liable for damages.
  • Risks Related to Being a Public Company After a Business Combination
  • The price of our Common Stock and warrants may fluctuate significantly you could lose all or part of your investment as a result.
  • Your percentage ownership in us may be diluted by future issuances of capital stock, which could reduce your influence over matters on which stockholders vote.

Legal proceedings

There is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team in their capacity as such.

The opening of Item 3, Legal Proceedings.3

Sources

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