Athena Technology Acquisition Corp. Announces Pricing of $250 Million Initial Public Offering
Athena Technology Acquisition Corp. has priced its initial public offering of 25,000,000 units at $10.00 per unit, set to list on the NYSE under the symbol ATHN.U from March 17, 2021. Each unit includes one share of Class A common stock and one-third of a warrant, with a full warrant allowing purchase of one share at an exercise price of $11.50. The Company, a blank check firm, aims to engage in business combinations within the technology, direct-to-consumer, and fintech sectors. Citigroup leads the underwriting, with the option for over-allotments.
- Pricing of 25,000,000 units at $10.00 indicates strong investor interest.
- Focus on technology, direct-to-consumer, and fintech sectors aligns with growth trends.
- Forward-looking statements indicate uncertainty regarding the offering's completion.
- Listing as a blank check company poses risks due to the lack of a defined target.
Athena Technology Acquisition Corp. (the "Company") announced the pricing 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.
Citigroup Global Markets Inc. ("Citigroup") is acting as sole bookrunner and representative of the underwriters and CastleOak Securities, L.P. and Siebert Williams Shank & Co., LLC are acting 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 will only be 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 proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or 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 preliminary 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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