Athena Technology Acquisition II(ATEK) - 2021 Q3 - Quarterly Report

Financial Performance - As of September 30, 2021, the company had a net loss of $1,160, primarily due to general and administrative expenses[81]. - The company had no cash used in operating activities from inception through September 30, 2021[85]. - There were no outstanding Working Capital Loans as of September 30, 2021, and the company does not anticipate needing additional funds for operating expenditures[86]. - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2021[89]. IPO and Fundraising - The company completed its IPO on December 14, 2021, raising gross proceeds of $250 million from the sale of 25,000,000 units at $10.00 per unit[82]. - An additional $3.75 million was raised from the sale of 375,000 over-allotment units, bringing total gross proceeds to $253.75 million[83]. - The net proceeds of $256,287,500 from the IPO and private placements were placed in a trust account, to be invested in U.S. government securities[84]. - The underwriters are entitled to a deferred underwriting commission of $8,956,250, payable only if a Business Combination is completed[90]. Regulatory and Risk Factors - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[91]. - As of September 30, 2021, the company was not subject to any market or interest rate risk, with investments held in short-term U.S. government securities[99].