Deals
Air Water Ventures Valued at $386 Million After SPAC Merger
- Abu Dhabi-based firm produces water from humidity in the air
- Air Water is combining with Athena Technology II SPAC
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Air Water Ventures Ltd., an Abu Dhabi-based company whose technology condenses airborne moisture to produce drinking water, is going public through a merger with a US blank-check company.
Combined with Athena Technology Acquisition Corp. II, Air Water will have an enterprise value of about $386 million, according to a statement reviewed by Bloomberg News. Athena currently holds about $261 million in cash in a trust and is expecting up to $60 million in financing through a private investment in public equity, or PIPE.