Tech SPAC Athena Technology Acquisition II Looks To Raise US$250 Million In IPO

Blank check company Athena Technology Acquisition Corp. II (NYSE: ATEK.U) went public today on the New York Stock Exchange. The company is seeking to raise US$250.0 million through its initial public offering.

The offering consists of 25.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable to purchase one common share at US11.50 per share.

The units will be trading under the symbol “ATEK.U” but once the securities are separated, the common shares and the purchase warrants will be trading on the big board under the symbols “ATEK” and “ATEK.WS”, respectively.

Citigroup Global Markets serves as the sole bookrunner for the offering. The company has granted the underwriters a 45-day over-allotment option to purchase additional 3.75 million company units at the same IPO price.

The blank check firm is the third all-women SPAC founded by fintech firm Magnifi’s co-founder Isabelle Freidheim. On the first two: Athena Technology Acquisition is currently having its proposed business combination with solar power firm Heliogen approved by its shareholders while Athena Consumer Acquisition closed its US$230 million IPO in October 2021.

The company plans to target businesses that are operating in the technology sector.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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