Athena Technology Acquisition Corp. II Reports Decreased Net Loss and Ongoing Merger Plans

Athena Technology Acquisition Corp. II reported a net loss of $409,427 for the three months ended June 30, 2026, a decrease from a net loss of $699,206 during the same period in 2025. For the six months ended June 30, 2026, the company recorded a net loss of $875,023, compared to a loss of $1,467,864 in the prior year. The reduction in losses is attributed to a decrease in general and administrative expenses, which fell to $413,470 in Q2 2026 from $634,894 in Q2 2025. Interest income from investments held in the Trust Account also declined, totaling $2,423 in Q2 2026 compared to $38,380 in Q2 2025.

The company’s total assets decreased to $863,872 as of June 30, 2026, down from $1,354,237 at the end of 2025. This decline was primarily due to a significant reduction in cash and cash equivalents, which dropped to $23,999 from $348,472. Investments held in the Trust Account also decreased to $166,857 from $297,614. Current liabilities increased to $9,611,343, up from $9,061,518, driven by higher accounts payable and accrued expenses.

Athena has not yet completed any business combinations since its inception and continues to seek potential targets. The company is currently in the process of finalizing a merger with Ace Green Recycling, which is expected to be completed by March 14, 2027. The company has extended its deadline for completing a business combination multiple times, with the latest extension approved on June 11, 2026. As part of its ongoing operations, Athena has also engaged in various financing activities, including issuing promissory notes to its sponsor and entering into subscription agreements to secure additional funding.

As of June 30, 2026, the company had a working capital deficit of $8,914,328 and cash available for operations of only $23,999. The company’s management has expressed concerns regarding its ability to continue as a going concern, given its liquidity position and the need for additional funding to meet operational costs and tax obligations. The company plans to utilize funds from its Trust Account for a business combination and may need to raise additional capital to cover operational expenses if a merger is not completed in the near term.