Soulpower Acquisition Corp. Announces Court Approval of Asset Sale

What Happened
Soulpower Acquisition Corporation (SOUL) and SWB Holdings issued a press release (filed on July 30, 2026) announcing that the Commercial Division of the High Court of Justice of the Virgin Islands granted, on July 23, 2026, the joint liquidators of Bank of Asia (BVI) Limited permission to sell certain of the Bank’s property, rights and assets to SWB LLC (or its affiliate, successor or designee). That approval fulfills one of the conditions of the Asset Sale Agreement dated November 6, 2025 between the joint liquidators and SWB LLC, which is connected to the previously announced proposed business combination among Soulpower, SWB Holdings and SWB LLC. The press release is furnished as Exhibit 99.1 to the 8-K.

Key Details

• Court approval granted by the Commercial Division of the High Court of Justice of the Virgin Islands on July 23, 2026.
• Asset Sale Agreement between the joint liquidators of Bank of Asia (BVI) Limited and SWB LLC was originally executed on November 6, 2025.
• Sale is to SWB LLC (or its affiliate, successor or designee) and is described as satisfying a condition to the proposed business combination involving Soulpower Acquisition Corp., SWB Holdings and SWB LLC.
• Press release announcing the court order was issued July 30, 2026 and is included as Exhibit 99.1 in the 8-K.

Why It Matters
This court approval removes a legal condition tied to the Asset Sale Agreement, advancing a key step in the transaction process tied to Soulpower’s proposed business combination with SWB entities. For investors, the development signals progress toward satisfying deal conditions; it does not, by itself, announce closing of the business combination or changes to financial results. The 8-K is a Regulation FD disclosure and provides the official press release for reference.