Athena Consumer Acquisition announced today that its board has decided to push the date for a merger from Feb. 22 to March 22. The SPAC’s sponsor deposited $112,691.48 into Athena’s trust for this second of six potential one-month extensions.
Athena has a pending deal with German EV maker e.Go.
At deal announcement in July, the transaction was expected to provide gross proceeds of up to approximately $285 million to e.Go, 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.
