Athena Technology Acquisition Corp. II (NYSE:ATEK) announced this afternoon that it is postponing its extension vote scheduled for June 12 until June 13.
Shareholders at the special meeting are to vote on a proposal to allow Athena Technology II to extend its transaction deadline on a monthly basis up to nine times from June 14, 2023, to March 14, 2024. The SPAC’s sponsor, Athena Technology Sponsor II, has offered to contribute the lesser of $60,000 or $0.03 for each share that has not been redeemed for each one-month extension.
As a result of the rescheduled meeting date, the SPAC is also pushing back the redemption deadline from June 8 to June 9.
Athena Technology II initially raised $256.3 million in total proceeds from its December 2021 IPO with a focus on fintech, enterprise, deep tech, and health-tech targets. It recently announced a $300 million business combination with sustainability company Air Water in April. Abu Dhabi-based Air Water has developed technology to harvest sustainable water from the air and dispense it through both consumer and industrial-scale machines.
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