White & Case Advises Athena Consumer Acquisition Corp. on its US$913 Million Business Combination with Next.e.GO Mobile SE

Press Release
2 min read

Global law firm White & Case LLP has advised Athena Consumer Acquisition Corp., a technology-enabled consumer focused special purpose acquisition company led entirely by women founders, CEOs, board members and other executives (NYSE: ACAQ), on its entry into a definitive business combination agreement with Next.e.GO Mobile SE, an innovative producer of urban electric vehicles based on disruptive production systems headquartered in Germany. 

The transaction values the combined company at approximately US$913 million. Upon the closing of the transaction, the combined company will be named "Next.e.GO N.V." and is expected to be listed on The New York Stock Exchange under the ticker symbol "EGOX."

e.GO is a developer, designer, manufacturer and marketer of electric vehicles for the urban environment, focusing on convenience, practicality, sustainability and affordability. e.GO currently has over 1,000 vehicles in operation and utilizes a "MicroFactory" production process which is designed to simplify the car production process and require less capital expenditure compared to traditional methods. e.GO's first MicroFactory was constructed in Aachen, Germany in 2018. e.GO began vehicle production in 2021 and plans to start construction on its second MicroFactory in Southeast Europe this year. 

The business combination is expected to expand e.GO's global reach and accelerate its growth, while providing funding for the continuation of its disruptive innovation efforts and battery electric vehicle platform. 

The White & Case team was led by M&A partners Morgan Hollins (Houston) and Tobias Heinrich (Frankfurt), Capital Markets partners Joel Rubinstein (New York) and Daniel Nussen (Los Angeles) and Tax partner Scott Fryman (New York). The team also included partners Yannick Adler, Thilo Diehl, Alexander Kiefner and Bodo Bender, local partners Johannes Goossens, Sebastian Stuetze, David Smith and Anna Dold, associates Jan Lampert, Benedikt Happ, Justus Redeker, Mathias Bogusch and Alisa Preissler, and international M&A attorney Volodymyr Yakubovskyy (all in Frankfurt); partner Matthias Kiesewetter (Hamburg); partner Tilman Kuhn and local partner Thilo Wienke (both in Dusseldorf); associates Sarah Ross, Guiying Ji, Evdoxia Madonis, William Quish and Adriana Zhan (all in New York); associate Rebeca Garcia-Lopez (Mexico City); and associates Nate Bascom, Yves Bramwell and Nick Geohegan (all in Houston). Law clerk Adyasha Das also assisted on the matter.

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