Athena Technology Acquisition Corp. Announces Closing of $250 Million Initial Public Offering
Athena Technology Acquisition Corp. has successfully closed its initial public offering (IPO), raising $250 million through the sale of 25,000,000 units at $10.00 each. The units are listed on the NYSE under the symbol ATHN.U. Each unit comprises one share of Class A common stock and one-third of a warrant, exercisable at $11.50 per share. The Company aims to pursue mergers or acquisitions primarily in the technology, direct-to-consumer, and fintech sectors. Citigroup acted as the sole bookrunner for the offering, which includes a 45-day option for underwriters to purchase additional units.
- Successfully closed IPO raising $250 million.
- Focus on technology, direct-to-consumer, and fintech sectors for potential acquisitions.
- None.
Athena Technology Acquisition Corp. (the "Company") announced the closing of its initial public offering of 25,000,000 units at
The Company is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. While the Company may pursue an initial business combination target in any industry, it currently intends to focus its efforts identifying businesses in technology, direct to consumer and fintech industries. The Company is led by Isabelle Freidheim, Chairman of the Board of Directors, and Phyllis Newhouse, Chief Executive Officer.
Citigroup Global Markets Inc. ("Citigroup") acted as sole bookrunner and representative of the underwriters and CastleOak Securities, L.P. and Siebert Williams Shank & Co., LLC acted as co-managers of the offering. The Company has granted the underwriters a 45 day option to purchase up to 3,750,000 additional units at the initial public offering price to cover over-allotments, if any.
This offering was made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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