Technology SPAC Athena Technology Acquisition files for a $250 million IPO
CONTRIBUTOR Renaissance Capital Renaissance Capital
Athena Technology Acquisition, a blank check company targeting technology, direct to consumer, and fintech, filed on Friday with the SEC to raise up to $250 million in an initial public offering.
The Kennesaw, GA-based company plans to raise $250 million by offering 25 million units at $10. Each unit will consist of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Athena Technology Acquisition will command a market value of $343 million.
The company is led by Chairman Isabelle Freidheim, who has served as Co-Founder and Managing Partner of Starwood VC since 2018; CEO and Director Phyllis Newhouse, who founded XtremeSolutions in 2002 and currently serves as CEO; and CFO Grace Vandecruze, who has served as Founder and Managing Director of Grace Global Capital since 2006. Athena Technology Acquisition intends to focus on identifying businesses in the technology, direct to consumer, and fintech industries.