Athena Technology Acquisition II caused to be deposited $25,755.62 into the company’s trust account to extend its completion deadline to June 14. The extension is the third of up to nine potential monthly extensions available.
The SPAC in April 2023 announced a merger agreement with Air Water Ventures at a pre-money equity value of $300 million.
If approved, upon closing The Air Water Company, as it would be renamed, is expected to list on the NYSE. The deal was initially expected to close in the first quarter of 2024.
Headquartered in Abu Dhabi, the target said it 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. Read more.
