IPOs

Technology SPAC Athena Technology Acquisition files for a $250 million IPO

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.

Athena Technology Acquisition was founded in 2020 and plans to list on the NYSE under the symbol ATHN.U. It filed confidentially on January 19, 2021. Citi is the sole bookrunner on the deal.

The article Technology SPAC Athena Technology Acquisition files for a $250 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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