Athena Consumer Acquisition Corp. (NYSE:ACAQ, ACAQ, ACAQ WS))))) (“Athena”), announced today that its board of directors (the “Board”) has decided to extend the date by which Athena must consummate an initial business combination (the “Deadline Date”) from August 22, 2023 for an additional month to September 22, 2023, and that its sponsor, Athena Consumer Acquisition Sponsor LLC (the “Sponsor”), deposited $60,000.00 into Athena’s trust account in connection with this extension, the second of three potential one-month extensions of the Deadline Date available to Athena.
Athena’s Amended and Restated Certificate of Incorporation (as amended on December 21, 2022 and July 19, 2023, the “Charter”) provides Athena the right to extend the Deadline Date up to three times for an additional one month each time (each, an “Extension”), from July 22, 2023 to up to October 22, 2023. As previously disclosed, in July 2023, the Board had implemented a first Extension and had extended the initial Deadline Date to August 22, 2023. On August 18, 2023, pursuant to the Charter, the Board determined to implement a second Extension to allow additional time for Athena to complete its initial business combination. On the same day, in connection with the second Extension and pursuant to an unsecured promissory note Athena and the Sponsor entered into on July 20, 2023, the Board delivered to the Sponsor a written request to draw down $60,000.00 for the second month of the Extension. On August 21, 2023, the Sponsor deposited such contribution into Athena’s trust account.
