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FTAC Athena (FTAA) Cancels Extension Meeting

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FTAC Athena (FTAA) Cancels Extension Meeting

FTAC Athena (NASDAQ:FTAA) has announced that it will cancel its special meeting scheduled for Wednesday, February 15 to extend its transaction deadline.

The SPAC currently faces a completion deadline of February 25, but was hoping to gain shareholder approval at the meeting to extend its timeline up to six times for an additional one month each time, to August 25.

As of now, it remains unclear whether FTAC Athena try to reschedule its meeting for a later date. It raised $220 million at its IPO in February 2021 and intended to focus on technology and financial services technology, or fintech, companies that power transformation and innovation.

FTAC Athena originally announced a $1.4 billion combination with fintech firm Pico in August 2021, but the parties mutually terminated the deal one year ago in February 2022.

The SPAC is led by Chairman of the Board Betsy Z. Cohen and President and Chief Executive Officer Amanda J. Abrams.