Item 8.01. Other Events.
On January 14, 2021, Athlon Acquisition Corp.. (the "Company") consummated its
initial public offering (the "IPO") of 27,600,000 units (the "Units"), including
the issuance of 3,600,000 Units as a result of the underwriter's exercise in
full of its over-allotment option. Each Unit consists of one share of Class A
common stock of the Company, par value $0.0001 per share ("Class A Common
Stock"), and one-half of one redeemable warrant of the Company (each, a
"Warrant"), with each whole Warrant entitling the holder thereof to purchase one
share of Class A Common Stock for $11.50 per share, subject to adjustment. The
Units were sold at a price of $10.00 per Unit, generating gross proceeds to the
Company of $276,000,000.
Simultaneously with the closing of the IPO, the Company completed the private
sale (the "Private Placement") of an aggregate of 7,520,000 warrants (the
"Private Placement Warrants") to AAC Holdco, LLC (the "Sponsor") at a purchase
price of $1.00 per Private Placement Warrant, generating gross proceeds to the
Company of $7,520,000.
A total of $276,000,000, comprised of $270,480,000 of the proceeds from the IPO
(which amount includes $9,660,000 of the underwriter's deferred discount) and
$5,520,000 of the proceeds of the sale of the Private Placement Warrants, was
placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained
by Continental Stock Transfer & Trust Company, acting as trustee.
An audited balance sheet as of January 14, 2021 reflecting receipt of the
proceeds upon consummation of the IPO and the Private Placement has been issued
by the Company and is included as Exhibit 99.1 to this Current Report on
Form 8-K.
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