Athena Consumer Acquisition in an 8-K said merger partner Next.e.Go, as part of the parties’ agreement, secured $15 million in bridge financing from Brucke Funding to cover ongoing operations. The loan would be distributed in three tranches.
The merger transaction is expected to provide gross proceeds of up to approximately $285 million to the German EV maker, including up to $235 million from Athena’s trust account, assuming no redemptions and up to $50 million in intended debt financing.
Up to $150 million is expected to be available under a standby equity purchase agreement. The SPAC has a letter of intent with Yorkville Advisors Global for this standby equity. Read more.
