Athena Technology Acquisition II(ATEK) - 2022 Q1 - Quarterly Report

Financial Performance - As of March 31, 2022, the company reported a net loss of $341,459, which consisted of operating expenses and interest income from investments held in the Trust Account[111]. - For the three months ended March 31, 2022, the company used $713,340 in cash for operating activities[116]. - As of March 31, 2022, the company had $813,124 in cash available for working capital purposes[116]. - The company has no long-term debt or off-balance sheet arrangements as of March 31, 2022[120]. 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[112]. - An additional $9.5 million was raised from the sale of 950,000 private placement units at the same price during the IPO[114]. - Following the IPO and the partial exercise of the over-allotment option, the company placed $256,287,500 in a Trust Account, invested in U.S. government securities[115]. - The underwriters are entitled to deferred underwriting commissions of $8,956,250, payable only if a Business Combination is completed[121]. Warrants and Growth Status - The company has issued 13,164,375 warrants to purchase Class A common stock at $11.50 per share, which are contingently exercisable[127]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[122].