- CEO
- Amanda J. Abrams
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 2929 Arch Street Philadelphia PA United States of America 19104-2870
- IPO Date
- Feb 23, 2021
- Business
- FTAC Athena Acquisition Corp. (FTAAU) operates as a blank check company, or special purpose acquisition company (SPAC), whose primary business is to pursue a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets, targeting companies in technology-enabled finance, financial services technology, and related sectors; it currently conducts no significant operations. Incorporated in 2020 and headquartered in Philadelphia, Pennsylvania, the company focuses on opportunities in the financial technology space without ongoing revenue-generating products or services beyond its SPAC structure of redeemable units comprising Class A ordinary shares and warrants. In early 2021, FTAC Athena completed a $250 million initial public offering of 25 million units at $10 each on Nasdaq, fully exercising the over-allotment option, with units separating into shares (FTAA) and warrants (FTAAW) for trading in April 2021; it announced a definitive merger agreement in August 2021 with Pico, a financial technology services provider, valuing the combined entity at $1.75 billion in equity, but terminated the deal in February 2022 due to Pico's failure to deliver required financial documents. Unable to complete an initial business combination within its mandated timeframe, the company announced its dissolution and liquidation in February 2023, redeeming all outstanding Class A ordinary shares at approximately $10.17 per share from its trust account, delisting from Nasdaq, and filing Form 15 to terminate registration under the Securities Exchange Act of 1934, with its Exchange Act registration subsequently revoked by the SEC.