German EV makr e.Go’s registration statement is now effective and shareholders in Athen Consumer Acquisition are scheduled to meet Thursday to vote on the merger.
At deal announcement a year ago, the transaction was expected to provide gross proceeds of up to approximately $285 million to e.GO. That was before redemptions ahead of six deadline extensions began to erode the cash in trust.
Athena lost 91% of its shares to redemptions ahead of an extension vote in January. The e.Go deal was announced in July 2022.
The SPAC has since secured $15 million in bridge financing and holds about $10.4 million in trust.
The deal has a $50 million minimum cash condition to close. Read more.
