ShoulderUp Technology Acquisition Corp.

General Information

We intend to focus our efforts on identifying businesses in technology and cybersecurity. We intend to focus on companies that have powerful and differentiated relationships with their customers, and that have market-leading insight into how their consumers live, what they need, and how to communicate with them effectively. These companies may serve both domestic and international customers.

Betsy Z. Cohen is a member of our sponsor, ShoulderUp Technology Sponsor LLC. Stacey Abrams is a member of our board of directors.

Phyllis Newhouse has served as our CEO since inception. Ms. Newhouse is known as a pioneer in cybersecurity. Ms. Newhouse is an entrepreneur, retired military senior non-commissioned officer, mentor, founder and CEO of XtremeSolutions, Inc., an Atlanta-based cybersecurity firm (“XSI”), and a founder, CEO and a director of Athena Technology Acquisition Corp., a blank check company focused on identifying acquisitions of business in technology, direct to consumer and fintech industries. While serving in the United States Army on various assignments, Ms. Newhouse focused on national security and worked on several projects, which outlined the Cyber Espionage Task Force. After her service in the army, Ms. Newhouse founded XSI in 2002, which offers a wide range of IT expertise and provides industry leading, state-ofthe-art information technology and cybersecurity services and solutions. XSI has employees in 42 states, with 40% of its workforce made up of veterans. In 2019, Ms. Newhouse founded ShoulderUp, a nonprofit dedicated to connecting and supporting women in their entrepreneurial journeys. 

Grace Vandecruze has served as our CFO since inception. Ms. Vandecruze is the Founder and managing director at Grace Global Capital LLC, a consulting firm providing M&A financial advisory, restructuring, and valuation to insurance executives, boards and financial regulators since 2006. From August 1999 to December 2006, she served as a managing director at Swiss Re, a Swiss reinsurance company, where Ms. Vandecruze was responsible for the firm’s regulatory advisory practice in the insurance and financial services industries.

(Note: ShoulderUP Technology Acquisition Corp. upsized its SPAC IPO at pricing on Nov. 16, 2021, to 26.5 million units, up from 25 million in the prospectus, at $10 each to raise $265 million.)

Employees: 0
Founded: 2021
Contact Information
Address 125 Townpark Drive, Suite 300 Kennesaw, GA 30144
Phone Number (970) 924-0446
Web Address
View Prospectus: ShoulderUp Technology Acquisition Corp.
Financial Information
Market Cap $348.33mil
Revenues $0 mil (last 12 months)
Net Income $0 mil (last 12 months)
IPO Profile
Symbol SUAC.U
Exchange NYSE
Shares (millions): 26.5
Price range $10.00 - $10.00
Est. $ Volume $265.0 mil
Manager / Joint Managers Citigroup
CO-Managers -
Expected To Trade: 11/17/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change