Athena Technology Acquisition Corp. II Receives Commencement of Delisting Notice from NYSE American
Athena Technology Acquisition Corp. II has received a delisting notice from NYSE American due to failing to complete a business combination within the required 36-month timeframe following its IPO. Trading of the company's securities has been suspended, including class A common stock, units, and redeemable warrants. The company has until December 17, 2024, to request a review of the delisting determination. While working to complete its announced business combination with Ace Green Recycling, the company plans to seek listing on The Nasdaq Stock Market if delisted from NYSE American.
Athena Technology Acquisition Corp. II ha ricevuto una comunicazione di de-listaggio dalla NYSE American a causa del mancato completamento di una combinazione aziendale entro il termine richiesto di 36 mesi dalla sua IPO. La negoziazione dei titoli della società è stata sospesa, inclusi le azioni ordinarie di classe A, le unità e i warrant rimborsabili. L'azienda ha tempo fino al 17 dicembre 2024 per richiedere una revisione della determinazione di de-listaggio. Mentre lavora per completare la combinazione aziendale annunciata con Ace Green Recycling, la società prevede di richiedere la quotazione sul mercato azionario Nasdaq se verrà de-listata dalla NYSE American.
Athena Technology Acquisition Corp. II ha recibido un aviso de deslistado de NYSE American debido a que no ha completado una combinación de negocios dentro del plazo requerido de 36 meses después de su OPI. La negociación de los valores de la compañía ha sido suspendida, incluidos las acciones ordinarias de clase A, las unidades y los warrants redimibles. La compañía tiene hasta el 17 de diciembre de 2024 para solicitar una revisión de la determinación de deslistado. Mientras trabaja para completar la combinación de negocios anunciada con Ace Green Recycling, la compañía planea buscar una cotización en el Nasdaq si es deslistada de NYSE American.
Athena Technology Acquisition Corp. II는 IPO 이후 36개월 이내에 사업 결합을 완료하지 못해 NYSE American으로부터 상장 폐지 통지를 받았습니다. 회사의 증권 거래가 중단되었으며, 여기에는 클래스 A 보통주, 유닛 및 상환 가능한 워런트가 포함됩니다. 회사는 2024년 12월 17일까지 상장 폐지 결정에 대한 검토를 요청할 수 있습니다. Ace Green Recycling과의 사업 결합을 완료하기 위해 노력하면서, 회사는 NYSE American에서 상장 폐지될 경우 나스닥 증권 시장에 상장을 요청할 계획입니다.
Athena Technology Acquisition Corp. II a reçu un avis de radiation de la NYSE American en raison de son échec à finaliser une combinaison commerciale dans le délai requis de 36 mois suivant son introduction en bourse. Le trading des titres de la société a été suspendu, y compris les actions ordinaires de classe A, les unités et les bons de souscription remboursables. La société a jusqu'au 17 décembre 2024 pour demander un examen de la décision de radiation. Tout en travaillant à finaliser la combinaison d'affaires annoncée avec Ace Green Recycling, la société prévoit de demander à être cotée sur le marché boursier Nasdaq si elle est radiée de la NYSE American.
Athena Technology Acquisition Corp. II hat eine Abmeldung von der NYSE American erhalten, da es versäumt hat, innerhalb des erforderlichen Zeitrahmens von 36 Monaten nach seinem IPO eine Unternehmenszusammenschluss abzuschließen. Der Handel mit den Wertpapieren der Gesellschaft wurde ausgesetzt, einschließlich der Stammaktien der Klasse A, Einheiten und rückkaufbaren Optionen. Das Unternehmen hat bis zum 17. Dezember 2024 Zeit, um eine Überprüfung des Abmeldungsbeschlusses zu beantragen. Während es daran arbeitet, die angekündigte Unternehmenszusammenschluss mit Ace Green Recycling abzuschließen, plant das Unternehmen, eine Listung an der Nasdaq-Börse zu beantragen, falls es von der NYSE American abgemeldet wird.
- Potential alternative listing on Nasdaq planned
- Business combination with Ace Green Recycling in progress
- Trading suspension on NYSE American
- Facing delisting from NYSE American
- Failed to meet business combination deadline requirement
- Risk of losing major exchange listing if Nasdaq listing not secured
Insights
The delisting notice from NYSE American marks a critical setback for Athena Technology Acquisition Corp. II. The SPAC's failure to complete a business combination within the required 36-month timeframe has triggered regulatory consequences, leading to an immediate trading suspension. While the company is pursuing its announced merger with Ace Green Recycling, the delisting threat adds significant pressure and uncertainty. The potential transition to Nasdaq offers a alternative pathway, but this hinges entirely on successfully closing the Ace Green deal. With a relatively small market cap of
This delisting action follows standard NYSE American procedures under Sections 119(b) and 119(f) of the Company Guide for SPACs failing to meet business combination deadlines. The company's appeal window is notably short, with just one week to request a review from the Listings Qualifications Panel. The concurrent pursuit of a Nasdaq listing represents a strategic legal maneuver to maintain market access, though this would require meeting Nasdaq's distinct listing requirements. The immediate trading suspension, while not uncommon in these scenarios, creates significant compliance challenges and increases pressure to expedite the Ace Green Recycling merger to maintain public market access.
The Company is working towards consummating its previously announced business combination with Ace Green Recycling, Inc. If the Company Securities are delisted from NYSE American, the Company intends to seek a listing of the Company Securities on The Nasdaq Stock Market LLC in connection with the consummation of the Company’s proposed initial business combination.
About Athena Technology Acquisition Corp. II
Athena Technology Acquisition Corp. II (NYSE American: ATEK.U, ATEK, ATEK WS), incorporated in
Forward-Looking Statements
Certain statements made in this press release are not historical facts but may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “intend,” or continue or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters.
These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. Such statements may include, but are not limited to, statements regarding the Company’s ability to consummate its previously announced business combination and to list the Company Securities on Nasdaq in connection with the consummation of the proposed business combination. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These statements are subject to a number of risks and uncertainties, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions; the number of redemption requests made by the Company’s stockholders in connection with a potential business combination; the outcome of any legal proceedings that may be instituted against the Company; the risk that the approval of the Company’s stockholders for a potential transaction is not obtained; expectations related to the timing of a potential business combination; failure to realize the anticipated benefits of a business combination; the risk that a business combination may not be completed by the Company’s business combination deadline; costs related to a business combination; and other risks that will be detailed from time to time in filings with the Securities and Exchange Commission, including those risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on September 27, 2024 and in subsequently filed Quarterly Reports on Form 10-Q. The foregoing list of risk factors is not exhaustive. There may be additional risks that could also cause actual results to differ from those contained in these forward-looking statements. In addition, forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. And while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that the results of such forward-looking statements will be achieved.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241213050198/en/
Bevel PR
Athena@bevelpr.com
Source: Athena Technology Acquisition Corp. II
FAQ
Why is Athena Technology Acquisition Corp. II being delisted from NYSE American?
What happens to ATEK stock trading after the NYSE American delisting notice?
What options does ATEK have to appeal the NYSE American delisting?
What is ATEK's plan if delisted from NYSE American?
