Athena Technology Acquisition II in a regulatory filing said it has postponed the June 12 shareholder meeting on an extension vote until June 13. The deadline for share redemptions wass also moved back by one day, to June 9.
If approved, the SPAC’s new deadline would be March 14, 2024.
The SPAC has a $300 million deal pending with Air Water Ventures. Headquartered in Abu Dhabi, the target is a “first mover in direct air-to-water technology, producing quality drinking water at a lower cost and environmental impact than bottled water.” The company said it has developed proprietary technology that it believes delivers consistent high-quality drinking water within an internal or external environment. Its airflow system is designed to extract the maximum amount of water while using minimum electricity, and its plug-and-play technology can be sited almost anywhere there is power without pipework or traditional water infrastructure.
Terms include Athena’s $261 million in trust plus $60 million in additional intended financing. Athena’s IPO was in December 2021. Read more.
