Next.e.GO Mobile, a German maker of compact electric vehicles, is going public through a merger with a blank-check firm to create a company valued at $913 million, including debt.
The deal will provide e.GO with about $285 million of proceeds, assuming investors do not redeem their shares, according to a statement Thursday, confirming a Bloomberg News report.
That includes $235 million from Athena Consumer Acquisition and $50 million in debt.
Proceeds from the deal with the special purpose acquisition company, or SPAC, will be used to fund operations and growth.