AltEnergy Acquisition Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>AltEnergy Acquisition Corp has filed its 2023 10-K report, outlining its financial status and business activities.</b>

AI Summary

AltEnergy Acquisition Corp (AEAEW) filed a Annual Report (10-K) with the SEC on April 16, 2024. AltEnergy Acquisition Corp filed its annual report for the fiscal year ending December 31, 2023. The report details financial data and business operations for the period. Key financial instruments discussed include common stock (Class A and B), public warrants, and private placement warrants. The company's address is 137 Rowayton Avenue, Suite 400, Rowayton, CT 06853. The filing was made on April 16, 2024.

Why It Matters

For investors and stakeholders tracking AltEnergy Acquisition Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of AltEnergy Acquisition Corp's financial performance and operational status for the fiscal year 2023, crucial for investors to assess the company's health and future prospects. The detailed financial information, including data on warrants and loans, is essential for understanding the company's capital structure and potential liabilities or equity dilution.

Risk Assessment

Risk Level: low — AltEnergy Acquisition Corp shows low risk based on this filing. The filing is a standard 10-K for a SPAC, indicating a lack of significant new operational or financial developments beyond routine reporting requirements.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand AltEnergy Acquisition Corp's current financial position and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 10-K report)
• 2024-04-16 — Filing Date (Date the 10-K was filed with the SEC)
• 10-K — Form Type (Type of filing submitted)

Key Players & Entities

• AltEnergy Acquisition Corp (company) — Filer of the 10-K report
• 2023-12-31 (date) — Fiscal year end
• 2024-04-16 (date) — Filing date
• 137 Rowayton Avenue, Suite 400, Rowayton, CT 06853 (address) — Company business and mailing address
• 0001193125-24-097784 (filing_id) — Accession number for the filing
• 001-40984 (filing_id) — SEC file number

FAQ

Risk Factors

• Working Capital Loan [medium — financial]: The company has a working capital loan, which is a financial obligation that needs to be managed.
• Warrants [medium — financial]: The company has issued public and private placement warrants, which represent potential future equity dilution.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-16: 10-K Filing Date — Official date the annual report was submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (Provides a detailed overview of the company's financial health and operations for the fiscal year.)

SPAC

Special Purpose Acquisition Company: a shell company that is set up to acquire or merge with an existing company. (Understanding the company's structure as a SPAC is key to interpreting its financial reporting and strategic goals.)

Warrants

A security that gives the holder the right, but not the obligation, to purchase shares of a company's stock at a specific price before a certain expiration date. (Warrants represent potential future dilution of existing shares and impact the company's capital structure.)

Key Financial Figures

• $0.0001 — arket Class A common stock, par value $0.0001 per share AEAE The Nasdaq Global Ma
• $11.50 — mon stock, each at an exercise price of $11.50 per share AEAEW The Nasdaq Global M
• $0 — ares of Class A common stock, par value $0.0001, and 250,000 shares of Class B com
• $10.00 — Units were sold at an offering price of $10.00 per Unit, generating gross proceeds to
• $230,000,000 — rating gross proceeds to the Company of $230,000,000. The Company granted the underwriters a
• $1.00 — vate placement warrants") at a price of $1.00 per private placement warrant, to the S
• $12,000,000 — ing, generating total gross proceeds of $12,000,000. Such securities were issued pursuant t
• $25,000 — tock for an aggregate purchase price of $25,000. The founder shares included an aggrega
• $4,600,000 — es were forfeited. We paid a total of $4,600,000 in underwriting discounts and commissio
• $635,000 — erwriting discounts and commissions and $635,000 for other costs and expenses related to
• $236,765,000 — e placement warrants were approximately $236,765,000, of which $234,600,000 (or $10.20 per u
• $234,600,000 — re approximately $236,765,000, of which $234,600,000 (or $10.20 per unit sold in the initial
• $10.20 — $236,765,000, of which $234,600,000 (or $10.20 per unit sold in the initial public off
• $250,000 — pany, acting as trustee. We also repaid $250,000 in noninterest bearing loans made to us
• $222,484,624 — ection with the Extension. As a result, $222,484,624 (approximately $10.38 per share) was re

Filing Documents

• d813121d10k.htm (10-K) — 1238KB
• d813121dex311.htm (EX-31.1) — 11KB
• d813121dex312.htm (EX-31.2) — 11KB
• d813121dex321.htm (EX-32.1) — 4KB
• d813121dex322.htm (EX-32.2) — 4KB
• 0001193125-24-097784.txt (&nbsp;) — 5738KB
• aeae-20231231.xsd (EX-101.SCH) — 47KB
• aeae-20231231_cal.xml (EX-101.CAL) — 31KB
• aeae-20231231_def.xml (EX-101.DEF) — 265KB
• aeae-20231231_lab.xml (EX-101.LAB) — 348KB
• aeae-20231231_pre.xml (EX-101.PRE) — 334KB
• d813121d10k_htm.xml (XML) — 687KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 28 Item 1C. Cybersecurity 28 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 29 PART II 29 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6.

Selected Financial Data

Selected Financial Data 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure F-24 Item 9A.

Controls and Procedures

Controls and Procedures F-24 Item 9B. Other Information F-25 PART III II-1 Item 10. Directors, Executive Officers and Corporate Governance II-1 Item 11.

Executive Compensation

Executive Compensation II-7 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters II-8 Item 13. Certain Relationships and Related Transactions, and Director Independence II-9 Item 14. Principal Accounting Fees and Services II-10 PART IV II-11 Item 15. Exhibits, Financial Statement Schedules II-11 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISK FACTOR SUMMARY Certain statements in this annual report on Form 10-K (this "Form 10-K") may constitute "forward-looking statements" for purposes of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this Form 10-K may include, for example, statements about: our ability to select an appropriate target business or businesses; our ability to complete our initial business combination; our expectations around the performance of the prospective target business or businesses; our success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination; our officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business or in approving our initial business combination, as a result of which they would then receiv

View Full Filing

View this 10-K filing on SEC EDGAR