Athena Consumer Acquisition Corp. Announces Confirmation of the Sponsor’s Contribution to the Trust Account in Connection with First Deadline Extension

Rhea-AI Summary

Athena Consumer Acquisition Corp. (NYSE: ACAQ.U, ACAQ, ACAQ WS) announced the deposit of $112,691.48 into its trust account to extend its initial business combination deadline to February 22, 2023. This extension, approved by the board on January 17, allows for one of six potential one-month extensions. Athena, a special purpose acquisition company, aims to merge with or acquire other businesses. Founded by women executives, Athena is the second SPAC established by Isabelle Freidheim, with Jane Park as CEO.

Positive

• Extension of business combination deadline increases chances for successful acquisition.
• Demonstrates sponsor's commitment with a significant trust account deposit.

Negative

• The need for an extension may indicate challenges in identifying a suitable acquisition target.
• Continued reliance on extensions could signal a lack of urgency or potential issues in the acquisition process.

New York, NY, Jan. 24, 2023 (GLOBE NEWSWIRE) --  Athena Consumer Acquisition Corp. (NYSE: ACAQ.U, ACAQ, ACAQ WS) (“Athena”), announced today that on January 23, 2023 its sponsor, Athena Consumer Acquisition Sponsor LLC (the “Sponsor”), deposited $112,691.48 into Athena’s trust account to extend the date by which Athena must consummate an initial business combination (the “Deadline Date”) to February 22, 2023.

As previously announced, on January 17, 2023, pursuant to Athena’s Second Amended and Restated Certificate of Incorporation, Athena’s board of directors decided to extend the Deadline Date from January 22, 2023 for an additional month to February 22, 2023, the first of six potential one-month extensions of the Deadline Date available to Athena.

About Athena Consumer Acquisition Corp.

Athena Consumer Acquisition Corp. (NYSE: ACAQ.U, ACAQ, ACAQ WS), incorporated in Delaware, is a special purpose acquisition company (“SPAC”) incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Athena is the second SPAC founded by Isabelle Freidheim, with Jane Park serving as Chief Executive Officer, Jennifer Carr-Smith as President and Angy Smith as Chief Financial Officer. All three Athena SPACs have been comprised entirely of women founders, CEOs, board members and other executives.

Contact
Claire Kerr
Bevel PR
Athena@bevelpr.com

FAQ

What is the new deadline for Athena Consumer Acquisition Corp. to complete its business combination?

The new deadline is February 22, 2023.

How much money was deposited into Athena's trust account?

$112,691.48 was deposited to extend the deadline.

Why did Athena Consumer Acquisition Corp. extend its business combination deadline?

The extension allows additional time to identify and finalize an acquisition target.

What does the extension of the deadline indicate for Athena's future?

It reflects the company's ongoing efforts to secure a suitable acquisition but may also suggest challenges.

Who are the key executives at Athena Consumer Acquisition Corp.?

Isabelle Freidheim is the founder, with Jane Park as CEO, Jennifer Carr-Smith as President, and Angy Smith as CFO.