Aspire Biopharma Raises $21M, Secures $22.5M Facility for $30M Dura Control Systems Acquisition
Aspire Biopharma completed its second tranche of a $21M private placement, raising $10M and boosting equity above the $2.5M Nasdaq listing requirement. The company secured a $22.5M senior credit facility commitment to fund its proposed $30M acquisition of Dura Control Systems, which generated $200M revenue in 2025.
1. Funding and Nasdaq Compliance
Aspire Biopharma closed its second and final tranche of a $21 million private placement, issuing 12,500 Series A convertible preferred shares for $10 million and securing total gross proceeds of $21 million. Proceeds will bolster working capital, fund part of the Dura Control Systems acquisition and maintain stockholders’ equity above the $2.5 million Nasdaq threshold.
2. Senior Credit Facility Terms
The company entered into a commitment letter for a senior secured five-year credit facility of up to $22.5 million at an interest rate of 325 basis points above the one-month SOFR. Aspire intends to use the facility proceeds to finance the full cash component of the proposed $30 million DCS acquisition without raising additional equity.
3. Strategic Rationale for DCS Acquisition
Aspire plans to acquire 100% of Dura Control Systems for $30 million in cash. DCS generated over $200 million in revenue and $20 million in adjusted EBITDA in 2025, offering immediate revenue diversification, enhanced cash flow stability and potential synergies with Aspire’s sublingual drug delivery platform.