ShoulderUp Technology Acquisition Corp entered into a definitive agreement to acquire SEE ID, Inc. for enterprise value of approximately $130 million.

ShoulderUp Technology Acquisition Corp entered into a definitive agreement to acquire SEE ID, Inc. for enterprise value of approximately $130 million on March 18, 2024. After closing, a newly formed parent company of SEE ID will become a publicly traded company, and its common stock is expected to be listed on the Nasdaq under the symbol ?DAIC.?. The transaction, which has been unanimously approved by the Board of Directors ShoulderUp, is subject to approval by ShoulderUp?s and SEE ID?s shareholders.

The transaction is expected to be completed in the second quarter of 2024, subject to regulatory approvals and other customary closing conditions. Rice Reuther Sullivan & Carroll LLP and Holland & Hart LLP served as legal counsel to SEE ID. DLA Piper LLP (US) served as legal counsel to ShoulderUp Technology Acquisition Corp.