Athena Technology Acquisition II(ATEK) - 2022 Q2 - Quarterly Report

Financial Performance - As of June 30, 2022, the company reported a net loss of $19,795 for the three months and a net loss of $361,254 for the six months, primarily due to operating expenses and interest income [102]. - As of June 30, 2022, the company had $722,297 in cash available for working capital purposes [107]. - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2022 [112][113]. IPO and Fundraising - The company completed its IPO on December 14, 2021, raising gross proceeds of $250 million from the sale of 25 million units at $10.00 per unit [104]. - An additional $3.75 million was generated from the partial exercise of the underwriter's over-allotment option, bringing total gross proceeds to $253.75 million [105]. - The company placed $256,287,500 of net proceeds from the IPO into a trust account, invested in U.S. government securities [106]. - The company may need to raise additional funds to complete a Business Combination or to cover redemptions of Public Shares [110]. Going Concern - Management has expressed substantial doubt about the company's ability to continue as a going concern if a Business Combination is not completed by June 14, 2023 [111]. Warrants and Growth Status - The company has issued 13,164,375 warrants to purchase Class A common stock at $11.50 per share, which have not yet been exercised [119]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards [114].