InvestmentApr 23, 2026, 04:36 PM
Athena II & Ace Green Secure $32M PIPE Investment
AI Summary
Athena Technology Acquisition Corp. II and Ace Green Recycling, Inc. entered into a Second Amendment to their Business Combination Agreement (BCA) on April 18, 2026. This amendment increases the authorized preferred stock of New Ace Green from 1,000,000 to 5,000,000 shares to facilitate a PIPE Investment and potential future fundings. On April 21, 2026, the companies secured a $32,000,000 PIPE Investment from third-party investors, involving the purchase of 3,333,333 shares of 12.0% Series A Cumulative Convertible Preferred Stock and warrants to purchase 5,000,000 common shares, both at an initial price of $12.00 per share, along with an additional 1,000,000 common shares.
Key Highlights
- BCA amended to increase authorized preferred stock from 1M to 5M shares.
- Secured $32,000,000 in PIPE Investment from third-party investors.
- PIPE includes 3,333,333 Series A Preferred Stock convertible at $12.00/share.
- PIPE also includes warrants to purchase 5,000,000 common shares at $12.00/share.
- PIPE Investors to receive 1,000,000 additional common shares.