Athena Consumer Acquisition Corp. (ACAQ) Stockholders Approve e.GO Deal
by Kristi Marvin on 2023-09-29 at 5:48pm

Athena Consumer Acquisition Corp. (NYSE:ACAQ) announced this afternoon that its stockholders approved its combination with German EV-maker e.GO at a special meeting held earlier today.

Additionally, Athena Consumer’s warrant proposal to convert all outstanding warrants to 0.175 shares in the combined company was also approved.

A total of 884,880 shares of Athena Class A Common Stock were presented for redemption in relation to today’s meeting, but a total of 22,033,660 shares had been redeemed at two prior extension meetings.  After all votes, just 81,460 public SPAC share remain for a total redemption of 99.6% of the trust.

The Business Combination is expected to be consummated as soon as practicable following the satisfaction or waiver of the remaining closing conditions. Following the closing of the Business Combination, the TopCo Shares are expected to begin trading on Nasdaq under the symbol “EGOX”.

Athena announced its $913 million merger with e.GO in July 2022. Aachen, Germany-based e.GO designs and manufactures compact EVs designed for urban markets at microfactories, which it believes will provide a more capital efficient entry to the market.

 

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