CID Holdco Stock Price, News & Analysis

ShoulderUp Technology Acquisition Corp. (ticker: SUAC) is a blank check company, also known as a special purpose acquisition company (SPAC). According to company communications, ShoulderUp was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The company has described itself as operating in the financial sector, with a focus on identifying businesses aligned with technology-driven growth and disruptive innovation.

ShoulderUp has stated that it seeks to catalyze growth through transactions such as mergers, capital stock exchanges, asset acquisitions and comprehensive reorganizations. Its public materials emphasize a goal of driving business transformations with companies it views as poised for expansion and aligned with its approach to innovation and leadership in the marketplace.

In multiple press releases, ShoulderUp is described as a SPAC that targets opportunities to combine with operating businesses. On March 18, 2024, SEE ID, Inc., doing business as Dot Ai, and ShoulderUp entered into a business combination agreement. Subsequent announcements noted the filing of a Registration Statement on Form S-4 in connection with this proposed business combination, and the scheduling of a special meeting of ShoulderUp shareholders to vote on the transaction.

On January 21, 2025, Dot Ai announced that the Registration Statement on Form S-4 for CID Holdco, Inc. had been declared effective by the U.S. Securities and Exchange Commission in connection with the proposed business combination among CID Holdco, SEE ID, Inc. and ShoulderUp. ShoulderUp disclosed that it had established a record date and meeting date for a special meeting to vote on proposals relating to this business combination, with the combined company expected, upon closing, to list on Nasdaq under the ticker symbol "DAIC".

On June 20, 2025, SEE ID, Inc., doing business as Dot Ai, and ShoulderUp announced the closing of their previously announced business combination, which had been approved by ShoulderUp shareholders at a special meeting on February 6, 2025. Following the closing of the business combination, Dot Ai became a publicly traded company, with its Class A common stock and warrants to trade on Nasdaq under the ticker symbols "DAIC" and "DAICW". This means that the SUAC symbol represents the SPAC that combined with Dot Ai, and investors researching SUAC are often examining the historical SPAC vehicle that facilitated Dot Ai’s transition to a publicly traded company.

ShoulderUp has also disclosed that it is based in Kennesaw, Georgia. In a June 27, 2024 announcement, the company stated that it had been assigned the trading symbols SUAC, SUACU and SUACW by FINRA for its common stock, units and warrants, respectively, allowing these securities to be quoted and traded in the over-the-counter market for unlisted securities.

Business purpose and structure

As a SPAC, ShoulderUp’s stated purpose has been to identify and complete a business combination rather than to operate a traditional ongoing business with its own products or services. Company disclosures describe ShoulderUp as a vehicle designed to identify and amalgamate with companies that management believes are positioned for growth and aligned with an ethos of disruptive innovation and leadership. The company has emphasized its role as a catalyst for transformative change through combinations with operating businesses.

Public descriptions of ShoulderUp highlight that it seeks to enter into transactions with one or more businesses or entities, using tools such as mergers, capital stock exchanges, asset acquisitions, stock purchases and reorganizations. The business combination with Dot Ai is presented in company communications as an example of this purpose in action.

Relationship with Dot Ai

Dot Ai is described in multiple joint press releases as a pioneering startup at the forefront of asset intelligence technology. Dot Ai characterizes itself as a SaaS service focused on asset intelligence, assurance and safety, harnessing IoT tracking technology, AI engines, 5G RF and BLE technology, and cloud integrations to provide real-time asset visibility and predictive analytics. While these descriptions relate to Dot Ai rather than ShoulderUp itself, they are central to understanding the operating business that combined with ShoulderUp through the SPAC structure.

According to these announcements, Dot Ai and ShoulderUp entered into a business combination agreement on March 18, 2024. Later communications describe the filing and effectiveness of a Registration Statement on Form S-4 for CID Holdco, Inc. in connection with the proposed business combination among CID Holdco, SEE ID, Inc. and ShoulderUp, and the expectation that upon closing the combined company would list on Nasdaq under the ticker "DAIC". The June 20, 2025 announcement confirms that this business combination closed and that Dot Ai became a publicly traded company with securities trading under "DAIC" and "DAICW".

Trading history and status

ShoulderUp has communicated that it is a blank check company whose securities have traded under the symbols SUAC, SUACU and SUACW. In a June 27, 2024 release, the company stated that FINRA had assigned these trading symbols, enabling quotation and trading in the over-the-counter market for unlisted securities. Earlier, ShoulderUp had been referenced with a listing on the New York Stock Exchange (NYSE: SUAC) in connection with the business combination agreement with Dot Ai. The later communication about FINRA-assigned symbols for OTC trading indicates a change in how the securities were quoted and traded, though the provided materials do not include a specific delisting filing or date.

After the closing of the business combination with Dot Ai, the operating business is described as trading on Nasdaq under "DAIC" and "DAICW". The SUAC symbol therefore primarily reflects the historical SPAC entity that entered into and completed this transaction.

Use of capital and financing activities

In connection with the proposed and completed business combination with Dot Ai, ShoulderUp and its transaction partners have discussed several financing arrangements. For example, an April 22, 2025 announcement noted that ShoulderUp and SEE ID intended to pursue various financing alternatives, which could include offering up to $7 million in aggregate principal amount of shares of common stock of ShoulderUp and/or SEE ID in a private offering exempt from registration, and/or a potential equity line of credit. The stated purpose of these financings was to satisfy conditions to the closing of the business combination and to fund ongoing operations of the combined company.

In the June 20, 2025 announcement of the closing of the business combination, Dot Ai and ShoulderUp stated that Dot Ai had raised $12 million in PIPE investment in connection with the transaction, with the proceeds intended to support strategic growth plans such as expansion of research and development, go-to-market efforts and Puerto Rico-based manufacturing operations. These financing details relate to the combined company and illustrate how the SPAC structure was used to bring additional capital to the operating business.

Company communications and disclosures

ShoulderUp has used press releases and SEC-related communications to inform shareholders about key corporate events such as special meetings, charter amendment proposals and the business combination process. For example, on May 14, 2024, the company announced the postponement of a special meeting of stockholders and provided information about proxy voting, redemption deadlines for public shares and procedures for withdrawing redemption requests. The company has also referenced filing proxy statements and other materials with the U.S. Securities and Exchange Commission and has directed investors to the SEC’s website for access to these documents.

In its joint announcements with Dot Ai, ShoulderUp has consistently described itself as a SPAC formed for the purpose of entering into a business combination and has highlighted the role of the business combination in enabling Dot Ai to become a public company. These communications also include standard securities law disclaimers stating that the press releases do not constitute offers to sell or solicitations of offers to buy securities, and that any offering would be made only by means of a prospectus meeting applicable legal requirements.

FAQs about ShoulderUp Technology Acquisition Corp. (SUAC)

• What is ShoulderUp Technology Acquisition Corp. (SUAC)?
  ShoulderUp Technology Acquisition Corp. is described in company communications as a blank check company, or special purpose acquisition company (SPAC), formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities.
• What was the purpose of SUAC as a SPAC?
  According to its public descriptions, ShoulderUp’s purpose was to identify and combine with businesses that management viewed as poised for growth and aligned with an ethos of disruptive innovation and leadership. It aimed to catalyze growth through transactions such as mergers, stock exchanges and asset acquisitions rather than operating as a traditional stand-alone business.
• How is SUAC connected to Dot Ai (DAIC)?
  On March 18, 2024, Dot Ai (SEE ID, Inc.) and ShoulderUp entered into a business combination agreement. Subsequent announcements describe the filing and effectiveness of a Registration Statement on Form S-4 for CID Holdco, Inc. in connection with this proposed business combination. On June 20, 2025, Dot Ai and ShoulderUp announced the closing of the business combination, after which Dot Ai became a publicly traded company with its Class A common stock and warrants to trade on Nasdaq under the symbols "DAIC" and "DAICW".
• Does SUAC still trade as an active operating company?
  The provided materials indicate that ShoulderUp functioned as a SPAC that completed a business combination with Dot Ai, and that the resulting operating company’s securities trade on Nasdaq under "DAIC" and "DAICW". The information given does not include a specific SEC delisting filing for SUAC, but it shows that the primary operating business associated with the SPAC is now represented by the DAIC ticker.
• Where is ShoulderUp based?
  Company announcements identify ShoulderUp Technology Acquisition Corp. as being located in Kennesaw, Georgia.
• What types of transactions did SUAC pursue?
  ShoulderUp’s public descriptions state that it was formed to pursue a business combination through structures such as mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations or similar transactions with one or more businesses or entities. The business combination with Dot Ai is the primary example described in the available materials.
• What financing activities were associated with SUAC’s business combination?
  In connection with the business combination with Dot Ai, ShoulderUp and SEE ID announced their intention to pursue financing alternatives such as a private offering of common stock and a potential equity line of credit. A later announcement stated that Dot Ai raised $12 million in PIPE investment tied to the closing of the business combination, with proceeds intended to support strategic growth plans of the combined company.
• How can investors learn more about SUAC’s regulatory filings?
  Company communications direct investors to the U.S. Securities and Exchange Commission’s website for access to registration statements, proxy statements and other filings related to ShoulderUp and the business combination with Dot Ai. These documents provide additional detail on the SPAC structure, transaction terms and related matters.