Filed by Athena Consumer Acquisition Corp.
Pursuant to Rule 425 under the Securities Act of
1933
And deemed filed pursuant to Rule 14a-12
Under the Securities Exchange Act of 1934
Subject Company: Next.e.GO B.V.
Commission File No. 333-270504
Date: September 25, 2023
E.GO’S
REGISTRATION STATEMENT ON FORM F-4 IN CONNECTION WITH ITS PROPOSED BUSINESS COMBINATION WITH ATHENA DECLARED EFFECTIVE BY THE U.S. SECURITIES
AND EXCHANGE COMMISSION
AACHEN,
Germany & NEW YORK (SEPTEMBER 25, 2023) – Next.e.GO Mobile SE (“e.GO”), an innovative producer of urban electric
vehicles and Athena Consumer Acquisition Corp. (NYSE American: ACAQ) (“Athena”), a publicly-traded special purpose acquisition
company, announced today that the U.S. Securities and Exchange Commission (“the SEC”) has declared effective the registration
statement on Form F-4 of e.GO (the “Registration Statement”) in connection with its proposed business combination (the “Business
Combination”) among e.GO, Athena, Next.e.GO B.V., a wholly-owned subsidiary of e.GO (“TopCo”), and Time is Now Merger
Sub, Inc., a wholly-owned subsidiary of TopCo (“Merger Sub”).
Athena
has scheduled the special meeting of its stockholders (the “Special Meeting”) and the special meeting of its warrant holders
(the “Warrant Holders Meeting” and together with the Special Meeting, the “Special Meetings”) for September 28,
2023 to, among other things, approve the proposed Business Combination and the proposed warrant exchange which will become effective
immediately prior to the closing of the Business Combination.
Ali
Vezvaei, Chairman of e.GO, said: “Today represents a remarkable milestone as we move towards our proposed U.S. listing, providing
us with the opportunity to advance our growth strategy and expand our global footprint. We are focused on bringing convenience, practicality,
and affordability to everyday urban e-mobility, leveraging innovation across the entire product and production value chain, in particular
our unique and disruptive production facilities that are, in our view, the future of flexible and capital efficient production. To-date,
we have put over 1,200 vehicles on the road, and we are truly excited to further advance with our plans through our proposed U.S. listing.”
Isabelle
Freidheim, Chairman of Athena, said: “The declaration of the SEC effectiveness is a significant step towards the successful
completion of the business combination between Athena and e.GO. We have diligently sought out a partner that aligns with our vision,
and we are confident that this transaction will position us for long-term success. We at Athena are incredibly excited to be partnering
with e.GO on this transaction because we believe e.GO is a truly disruptive company, one that can contribute meaningfully to solving
the challenges of electric mobility in the urban environment.”
About
e.GO
Headquartered
in Aachen, Germany, e.GO designs and manufactures battery electric vehicles for the urban environment, with a focus on convenience, reliability
and affordability. e.GO has developed a disruptive solution for producing its electric vehicles using proprietary technologies and low
cost MicroFactories, and has vehicles already on the road today. e.GO is helping cities and their inhabitants improve the way they get
around and is making clean and convenient urban mobility a reality. Visit https://www.e-go-mobile.com/ to learn more.
About
Athena Consumer Acquisition Corp.
Athena
is a special purpose acquisition company (“SPAC”). Athena is the second SPAC founded by Isabelle Freidheim, with Jane Park
serving as Chief Executive Officer, Jennifer Carr-Smith as President and Angy Smith as Chief Financial Officer. All three Athena SPACs
have been comprised entirely of women founders, CEOs, board members and other executives.
Important
Information about the Business Combination and Where to Find It
This
communication is not a substitute for the Registration Statement, the definitive proxy statement/prospectus or any other document that
Athena has sent or will send to its stockholders in connection with the Business Combination. Investors and security holders of Athena
are advised to read the proxy statement/prospectus in connection with Athena’s solicitation of proxies for the Special Meetings
because the proxy statement/prospectus contains important information about the Business Combination and the parties to the Business
Combination. Athena has mailed the definitive proxy statement/final prospectus and other relevant documents to its stockholders as of
the close of business on August 28, 2023 (the “Record Date”). Stockholders are also able to obtain copies of the proxy statement/prospectus,
without charge at the SEC’s website at www.sec.gov or by directing a request to: 442 5th Avenue, New York, NY, 10018.
Participants
in the Solicitation
Athena,
e.GO, TopCo and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed
to be participants in the solicitation of proxies of Athena’s stockholders in connection with the Business Combination. Investors
and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Athena’s
directors and officers in Athena’s filings with the SEC, and such information and names of e.GO’s directors and executive
officers are also in the Registration Statement.
Forward
Looking Statements
This
communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the
United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such
as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”,
“predict”, “should”, “would”, “potential”, “seem”, “future”,
“outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future
events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to,
statements regarding Athena, e.GO, and TopCo’s expectations with respect to future performance and anticipated financial impacts
of the Business Combination, the satisfaction of the closing conditions to the Business Combination, the level of redemptions by Athena’s
public stockholders, the timing of the completion of the Business Combination and the use of the cash proceeds therefrom. These statements
are based on various assumptions, whether or not identified herein, and on the current expectations of Athena, e.GO, and TopCo’s
management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only
and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive
statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions,
and such differences may be material. Many actual events and circumstances are beyond the control of Athena, e.GO, and TopCo.
These
forward-looking statements are subject to a number of risks and uncertainties, including: (i) changes in domestic and foreign business,
market, financial, political and legal conditions; (ii) the inability of the parties to successfully or timely consummate the proposed
Business Combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated
conditions that could adversely affect the combined company or the expected benefits of the proposed Business Combination or that the
approval of the stockholders of Athena or e.GO is not obtained; (iii) failure to realize the anticipated benefits of the proposed Business
Combination; (iv) risks relating to the uncertainty of the projected financial information with respect to e.GO; (v) the outcome of any
legal proceedings that may be instituted against Athena and/or e.GO following the announcement of the Business Combination; (vi) future
global, regional or local economic and market conditions; (vii) the development, effects and enforcement of laws and regulations; (viii)
e.GO’s ability to grow and achieve its business objectives; (ix) the effects of competition on e.GO’s future business; (x)
the amount of redemption requests made by Athena’s public stockholders; (xi) the ability of Athena or the combined company to issue
equity or equity-linked securities in the future; (xii) the ability of e.GO and Athena to raise interim financing in connection with
the Business Combination; (xiii) the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries;
(xiv) the risk that the proposed Business Combination disrupts current plans and operations as a result of the announcement and consummation,
(xv) costs related to the Business Combination, (xvi) the impact of the global COVID-19 pandemic and (xvi) those factors discussed below
under the heading “Risk Factors” and in the documents filed, or to be filed, by Athena and TopCo with the SEC. Additional
risks related to e.GO’s business include, but are not limited to: the market’s willingness to adopt electric vehicles; volatility
in demand for vehicles; e.GO’s dependence on the proceeds from the contemplated Business Combination and other external financing
to continue its operations; significant challenges as a relatively new entrant in the automotive industry; e.GO’s ability to control
capital expenditures and costs; cost increases or disruptions in supply of raw materials, semiconductor chips or other components; breaches
in data security; e.GO’s ability to establish, maintain and strengthen its brand; e.GO’s minimal experience in servicing
and repairing vehicles; product recalls; failure of joint-venture partners to meet their contractual commitments; unfavorable changes
to the regulatory environment; risks and uncertainties arising from the acquisition of e.GO’s predecessor business and assets following
the opening of insolvency proceedings over the predecessor’s assets in July 2020; and e.GO’s ability to protect its intellectual
property. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results
implied by these forward-looking statements.
There
may be additional risks that neither e.GO nor Athena presently know or that e.GO and Athena currently believe are immaterial that could
also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect
e.GO’s and Athena’s expectations, plans or forecasts of future events and views as of the date of this communication. e.GO
and Athena anticipate that subsequent events and developments will cause e.GO’s and Athena’s assessments to change. However,
while e.GO and Athena may elect to update these forward-looking statements at some point in the future, e.GO and Athena specifically
disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing e.GO’s and Athena’s
assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking
statements.
No
Offer or Solicitation
This
communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any
securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No
offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or
an applicable exemption from the registration requirements thereof.
Contacts
e.GO
For Investors:
Timo
Wamig
ir@e-go-mobile.com
For
Media:
Dan
Brennan
ICR, Inc.
eGOPR@icrinc.com
Athena
Consumer Acquisition Corp.
For
Media & Investors:
Libbie Wilcox
Bevel PR
athena@bevelpr.com
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