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- German electric carmaker Next.e.GO Mobile SE agreed to go public through a deal with SPAC Athena Consumer Acquisition Corp. (NYSE:ACAQ).
- The deal is expected to generate gross proceeds of up to $285 million of cash which will be used to fund operations and growth, according to a statement. The pro forma implied enterprise value of the combined company is $913 million.
- e.GO is headquartered in Aachen, Germany and began electric vehicle production in the second half of last year. To date, e.GO has put over 1,000 of its vehicles on the road. The Company’s brand ambassador is the Brazilian soccer superstar Neymar Jr.
- Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, served as financial and capital markets advisors to Athena.
- News of the deal was earlier reported by Bloomberg.
- Recall in October SPAC Athena Consumer Acquisition (ACAQ) priced $200M IPO.