ShoulderUP Technology Acquisition Corp.
SUAC
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Athena Technology Acquisition Corp. / ShoulderUP Technology Acquisition Corp. (Howroyd Janice Bryant), listed in November 2021.
- What it's doing now
- It agreed in January 2025 to buy SEE ID, Inc., an IoT and AI asset tracking and workflow management company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- SEE ID, Inc.
- Industry
- Information Technology — IoT and AI asset tracking and workflow management
- Deal value
- not stated in the filings we hold
- announced 17 January 2025
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 18 November 2021
- size not on file · 102.0% of each $10 unit into trust
- Headquarters
- 125 TOWNPARK DRIVE, KENNESAW, GA, 30144
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Williams Rashaun (Chief Financial Officer) · Stewart Vincent R. (Director) · Abrams Stacey Y. (Director)
- Listed securities
- SUAC common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 6 February 2025 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
11 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 17 January 2025Deal announcedpassed
Combination with SEE ID, Inc.
redemption rate not stated in the filing
Show the earlier 8 milestones
- 18 November 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
redemption rate not stated in the filing
redemption rate not stated in the filing
redemption rate not stated in the filing
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- SEE ID, Inc.— · announced 17 January 2025closedInformation TechnologySEC primary
- SEE ID, Inc.— · announced 17 January 2025closedInformation TechnologySEC primary
Who has already taken their money back
5 filed eventsEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
27.82M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Feb 6, 2025Deal voteno rate statedredeemed 0.502M sh0001213900-25-053190
Show the other 4 cash-out events
- Dec 30, 2024Extensionno rate stated
- Nov 19, 2024Extensionno rate stated
- May 17, 2024Extensionno rate stated
- Apr 20, 2023Extensionno rate stated
The score
deterministic, from filed fieldsSUAC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 294 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
ShoulderUP Technology Acquisition Corp. (ticker SUAC) was a blank-check company with SEC CIK 0001885461 and SIC industry code 6770. Its initial public offering was priced on November 18, 2021, according to 424B prospectus 0001213900-21-060627. The common ticker SUAC appears on the cover page of 10-Q 0001213900-25-053190, filed on June 11, 2025. The company's lifecycle is closed: on June 26, 2025, successor registrant CID Holdco, Inc. (ticker DAIC, CIK 0002033770) filed 8-K 0001213900-25-057972 carrying item 2.01 (Completion of Acquisition) naming ShoulderUP Technology Acquisition Corp., indicating that the SPAC merged into a new registrant and filed no closing report of its own.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Public stockholders end with about 2% of the combined company in every redemption scenario - the trust has already been so heavily redeemed that the remaining float is 508,829 shares, and the outcome does not change whether others redeem or not. Holdings warrants struck at $11.50 against that structure are unlikely ever to be in the money. The SUAC securities already trade on the pink sheets, so no exchange listing supports them today.
A one-month extension sought on the day the deadline falls, for the second consecutive month, shows a company closing gaps rather than closing a deal. The trust of $5.59 million supports about $10.99 a share for a float that had shrunk to roughly 509,000 shares by the time the merger proxy issued - so the remaining public holders are a tiny residual. Redemption at trust is the reliable exit; the alternative is 2% of the combined company.
The trust floor is $11.11 a share on $5.68 million, and it would fall to $10.99 a month later as the company extended again - so waiting costs holders value rather than earning it. Three separate one-month extensions across December, January and February show a deal that cannot close despite an effective registration statement. Redemption remains available at each vote and captures the full trust claim.
The $11.00 per share floor is intact, but a trust of roughly $9.45 million means only about 860,000 public shares remain — the SPAC has already been redeemed down to a stub, and whatever closes will receive almost no cash. The blocking issue is an SEC registration statement that is not yet effective, which is outside the company's control and rarely resolves in the six weeks this extension buys. Redemption at $11.00 remains the reliable outcome.
The choice put to SUAC holders is stark and stated in the document: approve six more months or the company liquidates. Redemption remains available at the vote, and with a business combination agreement only signed in March 2024 the odds of closing inside the new window are the whole question. The excerpt carries no trust per-share figure, so a holder must take the redemption price from the company's separate disclosure before deciding.
A stated redemption price of about $8.02 per share sits well below the $10.20 per public share that the sponsor indemnity in this same proxy names as the trust floor, so any holder relying on that protection should read the calculation before assuming it applies. The disclosure attributes part of the gap to interest reserved for taxes being excluded from the redemption amount. Either way, the cash claim disclosed here is materially weaker than the $10.20 reference the document itself uses, and a six-month extension does not restore it.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
- What changed vs 2024-11-29deadline 2024-12-31 → 2025-06-15shares 859K → 507K -41%
combination deadline, redeemable shares, trust account +12 moved · 2 with no prior record of ours
- Combination deadline
- 2024-12-312025-06-15
- Redeemable shares
- 859K507K
- Trust account
- $11.2M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 166 days later than the previous record.
The clause …“agreed to extend the termination date of the Non-Redemption Agreement to June 15, 2025. Also on April 17, 2025, in connection with the Non-Redemption Agreement, the Company and Investor entered into a forfeiture agreement (the”…
SpacBrain reads this as 352,825 shares are no longer redeemable.
The clause …“shares authorized; 11,800,000 shares issued and outstanding (excluding 506,589 and 508,829 shares subject to possible redemption) as of March 31, 2025 and December 31, 2024 1,180 1,180 Convertible Class B common stock, $ 0.0001”…
The clause …“The underwriters were entitled to a deferred underwriting commission of $ 11,200,000 , which will be paid from the funds held in the Trust Account upon completion of the Company’s initial Business Combination subject to the terms”…
The clause …“notes which were fully drawn. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2024-04-18trust $309.7M → $11.2M -96%deadline 2024-05-19 → 2025-05-31shares 1.98M → 509K -74%
trust account, combination deadline, redeemable shares +13 moved · 1 with no prior record of ours
- Trust account
- $309.7M$11.2M
- Combination deadline
- 2024-05-192025-05-31
- Redeemable shares
- 1.98M509K
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $298,544,280 left the trust between the two filings.
The clause …“to complete our initial business combination (after taking into account the $11,200,000 of deferred underwriting commissions being held in the trust account, but before taking into account any accrued interest thereon). We may”…
SpacBrain reads this as 377 days later than the previous record.
The clause “We may not be able to find a suitable target business and complete our initial business combination on or before May 31, 2025 or during any extension period. Our ability to complete our initial business combination may be adversely”…
SpacBrain reads this as 1,475,739 shares are no longer redeemable.
The clause …“authorized; 11,800,000 and 1,350,000 shares issued and outstanding (excluding 508,829 and 1,984,568 shares subject to possible redemption) as of December 31, 2024, and 2023, respectively 1,180 135 Convertible Class B common stock, $”…
The clause …“Going Concern Considerations In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Show the other 10 filings
What changed: ShoulderUp Technology Acquisition Corp. filed a definitive merger proxy and prospectus for 5,396,675 shares of common stock, 15,000,000 warrants and 15,000,000 underlying shares of CID HoldCo, Inc., under a business combination agreement dated March 18, 2024. Each SUAC share converts into one Holdings share and each whole warrant into a Holdings warrant exercisable at $11.50. Why it matters: Public stockholders end with about 2% of the combined company in every redemption scenario - the trust has already been so heavily redeemed that the remaining float is 508,829 shares, and the outcome does not change whether others redeem or not. Holdings warrants struck at $11.50 against that structure are unlikely ever to be in the money. The SUAC securities already trade on the pink sheets, so no exchange listing supports them today.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2024-08-31
SpacBrain reads this as the agreement may be terminated from 2024-08-31.
The clause …“or the Company if the Effective Time shall not have occurred prior to August 31, 2024 (the “ Outside Date ”); or (c) by either ShoulderUp or the Company if any Governmental Authority in the United States shall have enacted,”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: ShoulderUp Technology Acquisition Corp. called a special meeting for 10:00 a.m. Eastern time on January 24, 2025 as a virtual meeting, with the proxy dated January 13, 2025, to extend the Termination Date from that same January 24, 2025 date to February 24, 2025. The extension is sought because the Business Combination Registration Statement for the transaction under the March 18, 2024 agreement has been declared effective but there is not enough time to close. As of January 10, 2025 the trust held approximately $5,590,641, giving a redemption price of about $10.99 per public share. Why it matters: A one-month extension sought on the day the deadline falls, for the second consecutive month, shows a company closing gaps rather than closing a deal. The trust of $5.59 million supports about $10.99 a share for a float that had shrunk to roughly 509,000 shares by the time the merger proxy issued - so the remaining public holders are a tiny residual. Redemption at trust is the reliable exit; the alternative is 2% of the combined company.
What changed vs 2024-12-19deadline 2025-01-24 → 2025-02-24combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2025-01-242025-02-24
- Trust account
- $10.4M · unchanged
SpacBrain reads this as 31 days later than the previous record.
The clause “Shares (as defined below) if the Corporation is unable to complete its initial Business Combination by February 24, 2025 (the “Deadline Date”), and (iii) the redemption of shares in connection with a vote seeking to amend any provisions”…
The clause …“Sponsor and the Company’s officers and directors, will not receive any monies held in the Trust Account as a result of their ownership of the 10,450,000 shares of Class A Common Stock (after giving effect to the stock split and”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Deal completion: 3/3 resolved vehicles closed a deal (100%); 0 liquidated, 0 terminated. No measured post-close outcome yet, so completion credit is NOT gated — missing data is never a penalty.
Mixed record · medium confidence
- Athena Technology Acquisition Corp. II · 2021Completed
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W · 102.0% of the $10 unit
from 424B4 0001213900-21-060627
Trading & liquidity
Company profile
Directors & officers
- Williams RashaunChief Financial Officer
- Stewart Vincent R.Director
- Abrams Stacey Y.Director
- Henry ShawnDirector
- Howroyd Janice BryantDirector
- Barrett Danelle MarieDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
11 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- ShoulderUP Technology Sponsor, LLCwith 1 other reporting person on the same schedule28.2% · SC 13DDec 2, 2021 stale
- Exos Asset Management LLCwith 1 other reporting person on the same schedule6.7% · SC 13GMay 18, 2023 stale
- MOORE CAPITAL MANAGEMENT, LPwith 4 other reporting persons on the same schedule6.0% · SC 13GFeb 14, 2024 stale
- Polar Asset Management Partners Inc.3.9% · SC 13G/ADec 6, 2024 stale
- FIR TREE CAPITAL MANAGEMENT LP0.0% · SC 13G/ANov 14, 2024 stale
- AQR CAPITAL MANAGEMENT LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/ANov 13, 2024 stale
- Shaolin Capital Management LLC0.0% · SC 13G/AFeb 22, 2024 stale
- Radcliffe Capital Management, L.P.with 5 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- CALAMOS INVESTMENT TRUST/IL0.0% · SC 13GFeb 14, 2024 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 9, 2024 stale
- HIGHBRIDGE CAPITAL MANAGEMENT LLC0.0% · SC 13G/AFeb 2, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
38 full SEC filing texts archived — searchable, never lost.
- Vault note — SUAC (ShoulderUP Technology Acquisition Corp.)
vault-note · /vault/tickers/SUAC
- Vault deal note — SEE ID, Inc. (SUAC)
vault-note · /vault/deals/see-id-inc
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail12 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-21-060627 priced 2021-11-18; common ticker SUAC off 10-Q 0001213900-25-053190 (2025-06-11); lifecycle EXITED. Ending PROVEN, not inferred: CLOSED per 8-K 0001213900-25-057972 (2025-06-26) — the successor registrant CID Holdco, Inc. (DAIC) (CIK 0002033770) filed an 8-K carrying item 2.01 (Completion of Acquisition) naming "ShoulderUP Technology Acquisition Corp." — the SPAC merged into a new registrant and so filed no closing report of its own. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "ShoulderUP Technology Sponsor, LLC" (SEC CIK 0001884949) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-061708.
AI-extracted target (z-ai/glm-5.2, conf 0.98)
target sector as filed: "IoT and AI technology for digital transformation of enterprise operations, including asset tracking and workflow management" — 123 chars — over the 120-char noun-phrase bound; stored NULL.
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
OTHER -> AI, on DEFM14A 0001213900-25-004491: "SEE ID helps businesses digitally transform their operations using IoT and AI technology."
AI-extracted target (z-ai/glm-5.2, conf 0.98)
target sector as filed: "IoT and AI technology for digital transformation of enterprise operations, including asset tracking and workflow management" — 123 chars — over the 120-char noun-phrase bound; stored NULL.
target recovered for a completed de-SPAC
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
OTHER -> AI, on DEFM14A 0001213900-25-004491: "SEE ID helps businesses digitally transform their operations using IoT and AI technology."