SPAC Athena Consumer Acquisition files for a $200 million IPO, targeting technology-enabled consumer services

Athena Consumer Acquisition, a blank check company targeting technology-enabled consumer products and services, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10 per unit. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, the company would command a market value of $258 million. 

Athena Consumer Acquisition is led by Chairman Isabelle Freidheim, co-founder and Managing Partner of Starwood VC, CEO Jane Park, founder and CEO of Tokki and founder and former CEO of Julep Beauty, and CFO, COO, and President Jennifer Carr-Smith, founder and President of JCS Advisory and former CEO of Peapod. The company aims to leverage management's experience to target technology-enabled goods and services companies, particularly those with differentiated relationships with their customers. 

Chairman Isabelle Freidheim and two other directors of the company also serve on the board of Athena Technology Acquisition (NYSE: ATHN), which raised $250 million in its March 2021 offering and announced a business combination with solar power company Heliogen in July 2021. 

The company was founded in 2021 and plans to list on the NYSE under the symbol ACAQ.U. Citi is the sole bookrunner on the deal.