Soulpower Acquisition Secures $2.5M Promissory Note from Sponsor for Working Capital
SOUL is trading near its 52-week low of $9.69 (6.8% above the low).
Summary
Soulpower Acquisition Corp. obtained a $2.5 million unsecured, non-interest bearing promissory note from its sponsor to fund working capital, which will be forgiven upon its business combination.
Key Events · Financing and Capital Events · SOUL
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New Financial Obligation
Soulpower Acquisition Corp. issued an unsecured promissory note for up to $2.5 million to Soulpower Management LLC.
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Critical Liquidity Support
The funds are designated for general working capital, addressing the company's previously disclosed 'going concern' warnings and critically low cash position.
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Forgiveness Clause
The note's principal balance will be automatically forgiven upon the consummation of the company's initial business combination.
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Affiliate Transaction
The lender is controlled by Justin Lafazan, the company's CEO and Chairman, and is the sole managing member of the company's sponsor.
Analysis · SOUL · Real Estate & Construction
Soulpower Acquisition Corp., which has repeatedly disclosed 'going concern' warnings due to critically low cash, has secured a $2.5 million unsecured promissory note from its sponsor. This non-interest bearing loan is crucial for immediate working capital and will be automatically forgiven upon the consummation of the company's initial business combination, providing essential liquidity to continue operations and pursue its merger.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1591 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SOUL was trading at $10.35 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $270.4M. The 52-week trading range was $9.69 to $11.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.