# EDGAR Filing Document

**Accession Number:** 0001866547
**File Stem:** 0001493152-23-005509
**Filing Date:** 2023-2
**Character Count:** 176563
**Document Hash:** a352e8ec64484a2dd0035505ea5652ed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-005509.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001493152-23-005509

**CONFORMED SUBMISSION TYPE**: PRER14A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aetherium Acquisition Corp
- **CENTRAL INDEX KEY:** 0001866547
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** PRER14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41189
- **FILM NUMBER:** 23644609

**BUSINESS ADDRESS:**
- **STREET 1:** 79B PEMBERWICK RD.
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831
- **BUSINESS PHONE:** (650) 450-6836

**MAIL ADDRESS:**
- **STREET 1:** 79B PEMBERWICK RD.
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 14A**

**Proxy Statement Pursuant to Section 14(a)**

**of the Securities Exchange Act of 1934**

**(Amendment No. 1)**

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

**Check the appropriate box:**

☒ Preliminary Proxy Statement

☐ Confidential, for the use of the Commission only (as permitted by Rule 14a-6(e)(2))

☐ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material Pursuant to §210.14a-12

**AETHERIUM ACQUISITION CORP.**

(Name of Registrant as Specified in its Charter)

(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)

**Payment of Filing Fee (Check the appropriate box):**

☒ No fee required.

☐ Fee paid previously with preliminary materials.

☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

**Aetherium Acquisition Corp.**

**79B Pemberwick Rd.**

**Greenwich, CT 06831**

TO THE STOCKHOLDERS OF

AETHERIUM ACQUISITION CORP.

On behalf of the Board of Directors of Aetherium Acquisition Corp. (the "**<u>Company</u>**," "**<u>Aetherium</u>**" or "**<u>we</u>**"), I invite you to attend our Special Meeting of Stockholders (the "**<u>Special Meeting</u>**"). We hope you can join us. The Special Meeting will be held at 10:30 a.m. Eastern Time on [ ], 2023. Due to the COVID-19 pandemic, we will be holding the Special Meeting via teleconference using the following dial-in information:

US Toll Free [ ] <br> International Toll [ ] <br> Conference ID [ ] #

The Notice of Special Meeting of Stockholders, the Proxy Statement and the proxy card accompany this letter are also available at <u>https://www.cstproxy.com</u>/[ ]. We are first mailing these materials to our stockholders on or about [ ], 2023.

As discussed in the enclosed Proxy Statement, the purpose of the Special Meeting is to consider and vote upon the following proposals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Proposal 1 - A proposal to amend Aetherium's amended and restated certificate of incorporation (the "**<u>Charter</u>**"), to extend the date by which Aetherium must consummate a business combination up to twelve (12) times (the "**<u>Charter Amendment</u>**"), each such extension for an additional one (1) month period (each an "**<u>Extension</u>**"), from April 3, 2023 to April 3, 2024 (the latest such date actually extended being referred to as the "**<u>Extended Termination Date</u>**") (we refer to this proposal as the "**<u>Charter Amendment Proposal</u>**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Proposal 2 — A proposal to amend Aetherium's investment management trust agreement, dated as of December 29, 2021 (the "**<u>Trust Agreement</u>**"), by and between the Company and Continental Stock Transfer & Trust Company (the "**<u>Trustee</u>**"), allowing the Company to extend the date by which Aetherium must consummate a business combination up to twelve (12) times, each such Extension for an additional one (1) month period, until April 3, 2024, by depositing into the Trust Account $0.0575 per non-redeeming unit (the "**<u>Extension Payment</u>**") for each one-month Extension (the "**<u>Trust Amendment</u>**") (we refer to this proposal as the "**<u>Trust Amendment Proposal</u>**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Proposal 3 - A proposal to direct the chairman of the Special Meeting to adjourn the Special Meeting to a later date or dates (the "**<u>Adjournment</u>**"), if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Special Meeting, there are not sufficient votes to approve the foregoing proposal (we refer to this proposal as the **"<u>Adjournment Proposal</u>**").

The Company is still in the process of identifying a potential business combination target company for its initial business combination (the "**<u>Initial Business Combination</u>**").

The purpose of the Charter Amendment Proposal and the Trust Amendment Proposal is to allow the Company additional time to complete an Initial Business Combination. The Company's prospectus for its initial public offering ("**<u>IPO</u>**") and its Charter provide that the Company has until April 3, 2023 (the "**<u>Original Termination Date</u>**") to complete an Initial Business Combination. There is not sufficient time before April 3, 2023 for the Company to identify a target and complete the Initial Business Combination given the projected timetable for filing with the Securities and Exchange Commission ("**<u>SEC</u>**") either a registration statement under the Securities Act of 1933 on Form S-4 (the "**<u>Initial Business Combination Registration Statement</u>**"), and having it declared effective prior to holding a Special Meeting of the Company to consider any Initial Business Combination or a proxy statement, and having it cleared by the SEC prior to holding a Special Meeting of the Company to consider any Initial Business Combination (the "**<u>Initial Business Combination Proxy Statement</u>**"). Accordingly, the Board has determined that it is in the best interests of our stockholders to extend the date that the Company has to consummate an Initial Business Combination.

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Company would have up to an additional twelve months after the Original Termination Date to consummate an Initial Business Combination until April 3, 2024, which is a total of up to 27 months to complete an Initial Business Combination after the Company's IPO.

Upon the closing of the Company's IPO, approximately $116.7 million was placed in a trust account ("**<u>Trust Account</u>**") located in the United States with Continental Stock Transfer & Trust Company acting as trustee, and held as cash or invested only in U.S. government securities.

As of the date hereof, substantially all of the assets held in the Trust Account are held in money market funds, which primarily invest in U.S. Treasury Bills. There is uncertainty under the Investment Company Act of 1940 (the "**<u>Investment Company Act</u>**") whether certain special purpose acquisition companies, or "SPACs," with trust account assets held in securities, that do not consummate an Initial Business Combination within 24 months after the effective date of the SPAC's IPO registration statement, would fall under the definition of "investment company" under Section 3(a)(1)(A) of the Investment Company Act. The Company's IPO registration statement became effective on December 22, 2020. Due to this uncertainty, the Company expects that it will instruct Continental Stock Transfer & Trust Company, the trustee with respect to the trust account, to liquidate the U.S. government treasury obligations or money market funds held in the trust account on or prior to December 22, 2022, and thereafter to hold all funds in the trust account in cash until the earlier of consummation of our Initial Business Combination or liquidation of the Company.

The Board has fixed the close of business on [ ], 2023 as the record date for determining the Company's stockholders entitled to receive notice of and to vote at the Special Meeting and any adjournment thereof (the "**<u>Record Date</u>**"). On the Record Date, there were 12,028,500 shares of Class A common stock, $0.0001 par value, (the "**<u>Class A common stock</u>**"), and 2,875,000 shares of Class B common stock, par value $0.0001 per share (the "**<u>Class B common stock</u>**"), issued and outstanding. The shares of Class B common stock are convertible into shares of Class A common stock on a one-for-one basis, subject to adjustment. The Class A common stock and the Class B common stock are collectively referred to as the Company's "**Common Stock.**" The public shares of Class A common stock are referred to as the "**Public Shares**." Only holders of record of the Company's Common Stock on the Record Date are entitled to have their votes counted at the Special Meeting or any adjournment thereof.

Each of the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal are more fully described in the accompanying Proxy Statement.

The purpose of the Charter Amendment Proposal and the Trust Amendment Proposal is to allow Aetherium more time to complete its Initial Business Combination.

The Company's current Charter and Trust Agreement provide that Aetherium has only until April 3, 2023 to complete a business combination (i.e., 15 months from the consummation of the IPO). If both the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Company will instead have the right to extend the time to consummate a business combination from April 3, 2023 on a month-to-month and as needed basis, until April 3, 2024 (27 months from the consummation of the IPO).

The Company's Sponsor or any of its affiliates (the "**<u>Contributors</u>**") have agreed that if the Charter Amendment Proposal and the Trust Amendment Proposal are approved, then, upon five days' advance notice prior to the applicable deadline, they will contribute to the Trust Account, within two business days prior to the applicable deadline, $0.0575 per non-redeeming unit for each one-month Extension, paid on a month-to-month and as-needed basis (each being referred to herein as a "**<u>Contribution</u>**"), to extend the Combination Period for an additional one (1) month period each time, for up to twelve (12) times, until April 3, 2024.

The Contributors will not make any Contribution unless the Charter Amendment Proposal and the Trust Amendment Proposal are both approved and the Extension Termination Date is extended. The Contribution(s) will not bear any interest. The Contributions will be lost by the Contributors if the Company is unable to consummate an Initial Business Combination except to the extent of any funds held outside of the Trust Account. The Company will have the sole discretion whether to continue extending the time to complete an Initial Business Combination until the Extended Termination Date, and if the Company determines not to continue extending for an additional period, any obligation to make additional Contributions will terminate. If this occurs, or if the Company's board of directors otherwise determines that the Company will not be able to consummate an Initial Business Combination by the Extended Termination Date and does not wish to seek an additional Extension, the Company would wind up the Company's affairs and redeem 100% of the outstanding Public Shares in accordance with the same procedures set forth below that would be applicable if the Charter Amendment Proposal and the Trust Amendment Proposal are not approved.

**Background**

Aetherium was incorporated on April 15, 2021 and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our "**Initial Business Combination**". As disclosed in the Company's prospectus dated December 29, 2021 in connection with its initial public offering (the "**<u>IPO</u>**"), pursuant to the Trust Agreement and the Company's Charter, Aetherium has until April 3, 2023 to complete the Initial Business Combination. If the Initial Business Combination is not completed prior to April 3, 2023, Aetherium can extend the time to complete the Initial Business Combination only by the amendment of its Charter which requires the approval of at least 65% of the holders of the Company's outstanding Common Stock, which include the holders of both the Class A common stock and the Class B common stock.

Under our current Charter, if we are unable to complete our Initial Business Combination by April 3, 2023, we would: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our Initial Business Combination within the initial 15-month time period.

Aetherium and its board of directors have determined that there will not be sufficient time before April 3, 2023 to hold a Special Meeting to obtain stockholder approval of, and to consummate, an Initial Business Combination. Accordingly, Aetherium's board has determined that, given Aetherium's expenditure of time, effort and money on identifying a suitable company as a target business and completing its Initial Business Combination, it is in the best interests of its stockholders to approve the Charter Amendment Proposal and the Trust Amendment Proposal in order to amend the Charter and to amend the Trust Agreement. Assuming that the Charter Amendment Proposal and the Trust Amendment Proposal are so approved, and both the Charter and the Trust Agreement are amended, Aetherium will have to consummate an Initial Business Combination before the Extended Termination Date.

**You are not being asked to vote on any business combination at this time. If the Charter Amendment Proposal and the Trust Amendment Proposal are implemented and you do not elect to redeem your shares of Class A common stock now, you will retain the right to vote on an Initial Business combination when it is submitted to stockholders and the right to redeem your shares of Class A common stock into a pro rata portion of the Trust Account in the event a business combination is approved and completed or the Company has not consummated a business combination by the Extended Termination Date.**

If Aetherium's board of directors determines that Aetherium will not be able to consummate an Initial Business Combination by the Extended Termination Date, and does not wish to seek an additional Extension, Aetherium would then look to wind up the Company's affairs and redeem 100% of the outstanding Public Shares.

In connection with the Charter Amendment Proposal, public stockholders may elect (the "**<u>Election</u>**") to redeem their shares for a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest not previously released to Aetherium to pay franchise and income taxes, divided by the number of then outstanding Public Shares, regardless of whether such public stockholders vote "FOR" or "AGAINST" the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal, and an Election can also be made by public stockholders who do not vote, or do not instruct their broker or bank how to vote, at the Special Meeting. Public stockholders may make an Election regardless of whether such public stockholders were holders as of the record date. If the Charter Amendment Proposal and the Trust Amendment Proposal are approved by the requisite vote of stockholders, the remaining holders of Public Shares will retain their right to redeem their Public Shares when the Initial Business combination is submitted to the stockholders, subject to any limitations set forth in our Charter, as amended by the Charter Amendment Proposal and the Trust Amendment Proposal. However, Aetherium will not proceed with the Charter Amendment Proposal and the Trust Amendment Proposal if the redemption of Public Shares in connection therewith would cause Aetherium to have net tangible assets of less than $5,000,001. Each redemption of shares of Class A common stock by our public stockholders will decrease the amount in our Trust Account, which held approximately $[117.4] million of marketable securities as of [ ], 2023. In addition, public stockholders who do not make the Election would be entitled to have their shares redeemed for cash if Aetherium has not completed an Initial Business Combination by the Extended Termination Date. Our sponsor, our officers and directors and our other initial stockholders, own an aggregate of 3,403,500 shares of our common stock, which include 2,875,000 shares Class B shares of common stock which we refer to as the "**<u>Founder Shares</u>**", that were issued prior to our IPO and 528,500 shares of Class A common stock that were part of the private units purchased by our sponsor in a private placement which occurred simultaneously with the completion of the IPO (the "**<u>Private Placement Shares</u>**").

**To exercise your redemption rights, you must tender your shares to the Company's transfer agent at least two business days prior to the Special Meeting (or [ ], 2023). You may tender your shares by either delivering your share certificate to the transfer agent or by delivering your shares electronically using the Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) system. If you hold your shares in street name, you will need to instruct your bank, broker or other nominee to withdraw the shares from your account in order to exercise your redemption rights.**

As of [ ], 2023, there was approximately $[117.4] million in the Trust Account. If the Charter Amendment Proposal and the Trust Amendment Proposal are approved and the Extension Termination Date is extended to April 3, 2024, the redemption price per share at the meeting for the Initial Business Combination or the Company's subsequent liquidation will be approximately $10.95 per share (assuming no redemptions and without taking into account any interest), in comparison to the current redemption price of approximately $10.21 per share. The closing price of the Company's common stock on [ ], 2023 was $[ ]. The Company cannot assure stockholders that they will be able to sell their shares of the Company's common stock in the open market, even if the market price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in its securities when such stockholders wish to sell their shares.

If the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal are not approved, and we do not consummate our Initial Business Combination by April 3, 2023, as contemplated by our IPO prospectus and in accordance with our Charter and the Trust Agreement, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our Initial Business Combination within the 15-month time period. In the event of a liquidation, our sponsor, officers and directors and our other initial stockholders will not receive any monies held in the Trust Account as a result of their ownership of the Founder Shares or the Private Placement Shares.

The withdrawal of funds from the Trust Account in connection with the Election will reduce the amount held in the Trust Account following the Election. In such event, the Company may need to obtain additional funds to complete the Initial Business Combination, and there can be no assurance that such funds will be available on terms acceptable to the parties or at all.

Subject to the foregoing, the affirmative vote of at least 65% of the Company's outstanding Common Stock, including the Founder Shares and the Private Placement Shares, will be required to approve the Charter Amendment Proposal and the Trust Amendment Proposal. The approval of the Charter Amendment Proposal and the Trust Amendment Proposal are essential to the implementation of our board's plan to extend the date by which we must consummate our Initial Business Combination. Therefore, our board will abandon and not implement the Charter Amendment Proposal unless our stockholders approve both the Charter Amendment Proposal and the Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect. Notwithstanding stockholder approval of the Charter Amendment Proposal and the Trust Amendment Proposal, our board will retain the right to abandon and not implement the Charter Amendment Proposal and the Trust Amendment Proposal at any time without any further action by our stockholders.

**Our board has fixed the close of business on [ ], 2023 as the date for determining the Company stockholders entitled to receive notice of and vote at the Special Meeting and any adjournment thereof. Only holders of record of the Company's common stock on that date are entitled to have their votes counted at the Special Meeting or any adjournment thereof.**

**After careful consideration of all relevant factors, the board of directors has determined that each of the proposals are advisable and recommends that you vote or give instruction to vote "FOR" such proposals.**

Enclosed is the Proxy Statement containing detailed information concerning the Charter Amendment Proposal, the Trust Amendment Proposal and the Special Meeting. Whether or not you plan to attend the Special Meeting, we urge you to read this material carefully and vote your shares.

Sincerely,

---

| |
|:---|
| */s/ Jonathan Chan* |
| Jonathan Chan |
| Chief Executive Officer |
| [ ], 2023 |

---

**Aetherium Acquisition Corp.**

**79B Pemberwick Rd.**

**Greenwich, CT 06831**

**NOTICE OF SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON [ ], 2023**

[ ], 2023

To the Stockholders of Aetherium Acquisition Corp.:

NOTICE IS HEREBY GIVEN that a Special Meeting of Stockholders (the "**<u>Special Meeting</u>**") of Aetherium Acquisition Corp. ("**<u>Aetherium</u>**" or the "**<u>Company</u>**"), a Delaware corporation, will be held on [ ], 2023, at 10:30 a.m. Eastern Time. Due to the COVID-19 pandemic, the Company will be holding the Special Meeting via teleconference using the following dial-in information:

US Toll Free [ ] <br> International Toll [ ] <br> Conference ID [ ] #

The purpose of the Special Meeting will be to consider and vote upon the following proposals:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Proposal 1 - A proposal to amend Aetherium's amended and restated certificate of incorporation (the "**<u>Charter</u>**"), to extend the date by which Aetherium must consummate a business combination on a month to month basis up to twelve (12) times (the "**<u>Charter Amendment</u>**"), each such extension for an additional one (1) month period (each an "**<u>Extension</u>**"), from April 3, 2023 to April 3, 2024 (the latest such date actually extended being referred to as the "**<u>Extended Termination Date</u>**") (we refer to this proposal as the "**<u>Charter Amendment Proposal</u>**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Proposal 2 — A proposal to amend Aetherium's investment management trust agreement, dated as of December 1029, 2021 (the "**<u>Trust Agreement</u>**"), by and between the Company and Continental Stock Transfer & Trust Company (the "**<u>Trustee</u>**"), allowing the Company to extend the Extended Termination Date another twelve (12) times, each such Extension for an additional one (1) month period, until April 3, 2024, by depositing into the Trust Account $0.0575 per non-redeeming unit (the "**<u>Extension Payment</u>**") for each one-month Extension (the "**<u>Trust Amendment</u>**") (we refer to this proposal as the "**<u>Trust Amendment Proposal</u>**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Proposal 3 - A proposal to direct the chairman of the Special Meeting to adjourn the Special Meeting to a later date or dates (the "**<u>Adjournment</u>**"), if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Special Meeting, there are not sufficient votes to approve the foregoing proposal (we refer to this proposal as the **"<u>Adjournment Proposal</u>**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) To act on such other matters as may properly come before the Special Meeting or any adjournment or adjournments thereof.

As of the date hereof, substantially all of the assets held in the Trust Account are held in money market funds, which primarily invest in U.S. Treasury Bills. There is uncertainty under the Investment Company Act of 1940 (the "**<u>Investment Company Act</u>**") whether certain special purpose acquisition companies, or "SPACs," with trust account assets held in securities, that do not consummate an initial business combination within 24 months after the effective date of the SPAC's IPO registration statement, would fall under the definition of "investment company" under Section 3(a)(1)(A) of the Investment Company Act. The Company's IPO registration statement became effective on December 22, 2020. Due to this uncertainty, the Company expects that it will instruct Continental Stock Transfer & Trust Company, the trustee with respect to the trust account, to liquidate the U.S. government treasury obligations or money market funds held in the trust account on or prior to December 22, 2022, and thereafter to hold all funds in the trust account in cash until the earlier of consummation of our initial business combination or liquidation of the Company.

The Board of Directors has fixed the close of business on [ ], 2023 as the record date for the Special Meeting and only holders of shares of record at that time will be entitled to notice of and to vote at the Special Meeting or any adjournment or adjournments thereof.

---

| | |
|:---|:---|
|  | By Order of the Board of Directors |
|  | */s/ Jonathan Chan* |
|  | Chief Executive Officer |
| Greenwich, Connecticut |  |
| [ ], 2023 |  |

---

**<u>IMPORTANT</u>**

**IF YOU CANNOT PERSONALLY ATTEND THE SPECIAL MEETING, IT IS REQUESTED THAT YOU INDICATE YOUR VOTE ON THE ISSUES INCLUDED ON THE ENCLOSED PROXY AND DATE, SIGN AND MAIL IT IN THE ENCLOSED SELF-ADDRESSED ENVELOPE WHICH REQUIRES NO POSTAGE IF MAILED IN THE UNITED STATES OF AMERICA.**

**IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON [ ], 2023. THIS PROXY STATEMENT TO THE STOCKHOLDERS WILL BE AVAILABLE AT: <u>https://www.cstproxy.com</u>/[ ]** 

**Aetherium Acquisition Corp.**

**79B Pemberwick Rd.**

**Greenwich, CT 06831** 

**PRELIMINARY PROXY STATEMENT**

**FOR**

**SPECIAL MEETING OF STOCKHOLDERS**

**TO BE HELD DECEMBER 21, 2022**

**FIRST MAILED ON OR ABOUT [ ], 2023**

**Date, Time and Place of the Special Meeting**

The enclosed proxy is solicited by the Board of Directors (the "**<u>Board</u>**") of Aetherium Acquisition Corp. ("**<u>the Company</u>**," "**<u>Aetherium</u>**" or "**<u>we</u>**"), a Delaware corporation, in connection with the Special Meeting of Stockholders to be held on [ ], 2023 at 10:30 a.m. Eastern time for the purposes set forth in the accompanying Notice of Meeting. Due to the COVID-19 pandemic, Aetherium will be holding the Special Meeting, and any adjournments thereof, via teleconference using the following dial-in information:

US Toll Free [ ] <br> International Toll [ ] <br> Conference ID [ ] #

The principal executive office of the Company is 79B Pemberwick Rd., Greenwich, CT 06831, and its telephone number, including area code, is (650) 450-6836.

**Purpose of the Special Meeting**

At the Special Meeting, you will be asked to consider and vote upon the following matters:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Proposal 1 - A proposal to amend Aetherium's amended and restated certificate of incorporation (the "**<u>Charter</u>**"), to extend the date by which Aetherium must consummate a business combination on a month to month basis up to twelve (12) times (the "**<u>Charter Amendment</u>**"), each such extension for an additional one (1) month period (each an "**<u>Extension</u>**"), from April 3, 2023 to April 3 2024 (the latest such date actually extended being referred to as the "**<u>Extended Termination Date</u>**") (we refer to this proposal as the "**<u>Charter Amendment Proposal</u>**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Proposal 2 — A proposal to amend Aetherium's investment management trust agreement, dated as of December 1029, 2021 (the "**<u>Trust Agreement</u>**"), by and between the Company and Continental Stock Transfer & Trust Company (the "**<u>Trustee</u>**"), allowing the Company to extend the Extended Termination Date another twelve (12) times, each such Extension for an additional one (1) month period, until April 3, 2024, by depositing into the Trust Account $0.0575 per non-redeeming unit (the "**<u>Extension Payment</u>**") for each one-month Extension (the "**<u>Trust Amendment</u>**") (we refer to this proposal as the "**<u>Trust Amendment Proposal</u>**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Proposal 3 - A proposal to direct the chairman of the Special Meeting to adjourn the Special Meeting to a later date or dates (the "**<u>Adjournment</u>**"), if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Special Meeting, there are not sufficient votes to approve the foregoing proposal (we refer to this proposal as the **"<u>Adjournment Proposal</u>**"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) To act on such other matters as may properly come before the Special Meeting or any adjournment or adjournments thereof.

**Background**

Aetherium was incorporated on April 15, 2021 and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our "**Initial Business Combination**". As disclosed in the Company's prospectus dated December 29, 2021 in connection with its initial public offering (the "**<u>IPO</u>**"), pursuant to the Trust Agreement and the Company's Charter, Aetherium has until April 3, 2023 to complete the Initial Business Combination. If the Initial Business Combination is not completed prior to April 3, 2023, Aetherium can extend the time to complete the Initial Business Combination only by the amendment of its Charter which requires the approval of at least 65% of the holders of the Company's outstanding Common Stock, which include the holders of both the Class A common stock and the Class B common stock.

The Company is still in the process of identifying a potential business combination target company for an Initial Business Combination.

The purpose of the Charter Amendment Proposal and the Trust Amendment Proposal is to allow the Company additional time to find an appropriate company as a target in order to complete an Initial Business Combination. The Company's prospectus for its IPO and its Charter provide that the Company has until April 3, 2023 (the "**<u>Original Termination Date</u>**") to complete an Initial Business Combination. There is not sufficient time before April 3, 2023 for the Company to complete an Initial Business Combination given the projected timetable, to file either a registration statement on Form S-4 under the Securities Act of 1933 (the "**<u>Initial Business Combination Registration Statement</u>**") with the Securities and Exchange Commission (the "**<u>SEC</u>**") and having it declared effective prior to holding a Special Meeting of the Company to consider an Initial Business Combination or a proxy statement, and having it cleared by the SEC prior to holding a Special Meeting of the Company to consider any Initial Business Combination (the "**<u>Initial Business Combination Proxy Statement</u>**"). Accordingly, the Board has determined that it is in the best interests of our stockholders to extend the date that the Company has to consummate an Initial Business Combination.

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Company would have up to an additional twelve months after the Original Termination Date to consummate the Initial Business Combination until April 3, 2024, which is a total of up to 27 months to complete an Initial Business Combination after the Company's IPO.

Upon the closing of the Company's IPO, approximately $116.7 million was placed in a trust account ("**<u>Trust Account</u>**") located in the United States with Continental Stock Transfer & Trust Company acting as trustee, and held as cash or invested only in U.S. government securities.

The Board has fixed the close of business on [ ], 2023 as the record date for determining the Company's stockholders entitled to receive notice of and to vote at the Special Meeting and any adjournment thereof (the "**<u>Record Date</u>**"). On the Record Date, there were 12,028,500 shares of Class A common stock, $0.0001 par value, issued and outstanding (the "**<u>Class A common stock</u>**" or "**<u>Public Shares</u>**") and 2,875,000 shares of Class B common stock, par value $0.0001 per share, issued and outstanding. Only holders of record of the Company's Common Stock on the Record Date are entitled to have their votes counted at the Special Meeting or any adjournment thereof.

The Company's Sponsor, or any of its affiliates (the "**<u>Contributors</u>**") have agreed that if the Charter Amendment Proposal and the Trust Amendment Proposal are approved, then, upon five days' advance notice prior to the applicable deadline, they will contribute to the Trust Account, within two business days prior to the applicable deadline, $0.0575 per non-redeeming unit for each one-month Extension, paid on a month-to-month and as-needed basis (each being referred to herein as a "**Contribution**"), to extend the Combination Period for an additional one (1) month period each time, for up to twelve (12) times, until April 3, 2024.

The Contributors will not make any Contribution unless the Charter Amendment Proposal and the Trust Amendment Proposal are both approved and the Extension Termination Date is extended. The Contribution(s) will not bear any interest. The Contributions will be lost by the Contributors if the Company is unable to consummate an Initial Business Combination except to the extent of any funds held outside of the Trust Account. The Company will have the sole discretion whether to continue extending the time to complete the Initial Business Combination until the Extended Termination Date, and if the Company determines not to continue extending for an additional period, any obligation to make additional Contributions will terminate. If this occurs, or if the Company's board of directors otherwise determines that the Company will not be able to consummate an Initial Business Combination by the Extended Termination Date and does not wish to seek an additional Extension, the Company would wind up the Company's affairs and redeem 100% of the outstanding Public Shares in accordance with the same procedures set forth below that would be applicable if the Charter Amendment Proposal and the Trust Amendment Proposal are not approved.

The purpose of the Charter Amendment Proposal and the Trust Amendment Proposal is to allow Aetherium more time to complete its Initial Business Combination. Aetherium's Charter provides that Aetherium has only until April 3, 2023 to complete the Initial Business Combination.

**QUESTIONS AND ANSWERS ABOUT THE SPECIAL MEETING**

These Questions and Answers are only summaries of the matters they discuss. They do not contain all of the information that may be important to you. You should carefully read the entire document, including the annexes to this proxy statement.

**Q.** **What is being voted on?** 

A. You
 are being asked to consider and vote upon (x) a proposal to amend the Company's Charter (such amendment, the "  **<u>Charter Amendment Proposal</u>**") and to amend the Investment Management Trust Agreement (the "  **<u>Trust Amendment Proposal</u>** ")
 to allow the Board to extend the date to consummate its Initial Business Combination on an as-needed, month-to-month basis,
 from April 3, 2023 to April 3, 2024 (the latest such date actually extended being referred to as the "  **<u>Extended Termination Date</u>** "), without another stockholder vote, the date by which, if the Company has not consummated a merger, capital stock
 exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, the Company
 must: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten
 business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on
 deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to
 pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares,
 which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further
 liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption,
 subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of
 clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other
 applicable law; and (y) a proposal to adjourn the Special Meeting if necessary.

**Q.** **Why is the Company proposing the Charter Amendment Proposal and the Trust Amendment Proposal?** 

A. Aetherium
 was incorporated in Delaware on April 15, 2021 and was formed for the purpose of entering into a merger, capital stock exchange,
 asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On January 3, 2022,
 the Company consummated its initial public offering ("  **<u>IPO</u>**") and the underwriters' full exercise of
 over-allotment option on January 3, 2022. Simultaneously with the closing of the IPO and the exercise by the underwriter of its over-allotment
 option, the Company consummated the private placement for the sale of private units ("  **<u>Private Placement</u>** ")
 with Aetherium Capital Holdings LLC (the "  **<u>Sponsor</u>**") containing an aggregate of 528,500 shares of Class
 A common stock (the "  **<u>Private Placement Shares</u>** "). $116,725,000 from the net proceeds of the units sold in
 the IPO and the Private Placement was placed in the Trust Account for the benefit of the persons holding Public Shares ("  **<u>Public Stockholders</u>** ").

Our Charter provides for the return of the IPO proceeds held in the Trust Account to the holders of Public Shares if there is no qualifying business combination(s) consummated on or before April 3, 2023. The Company has not yet identified a potential business combination target company for an Initial Business Combination.

The Company believes that given its expenditure of time, effort, and money searching for potential business combination opportunities, the Public Stockholders of the Company should be given an opportunity to consider and vote on an Initial Business Combination. We do not believe that we will have sufficient time to consummate the Initial Business Combination prior to April 3, 2023. Therefore, we are seeking approval of the Charter Amendment Proposal and the Trust Amendment Proposal.

The Board believes that it is in the best interests of the stockholders to continue the Company's existence in order to allow the Company more time to complete the Initial Business Combination. Accordingly, the Board is proposing the Charter Amendment Proposal and the Trust Amendment Proposal to extend the Company's corporate existence and time to complete an Initial Business Combination.

**YOU ARE NOT BEING ASKED TO VOTE ON A BUSINESS COMBINATION AT THIS TIME. IF THE CHARTER AMENDMENT PROPOSAL IS APPROVED AND THE CHARTER AMENDMENT IS FILED AND YOU DO NOT ELECT TO REDEEM YOUR PUBLIC SHARES NOW, YOU WILL RETAIN THE RIGHT TO VOTE ON AN INITIAL BUSINESS COMBINATION IF AND WHEN IT IS SUBMITTED TO STOCKHOLDERS AND THE RIGHT TO REDEEM YOUR PUBLIC SHARES FOR A PRO RATA PORTION OF THE TRUST ACCOUNT IN THE EVENT AN INITIAL BUSINESS COMBINATION IS APPROVED AND COMPLETED OR THE COMPANY HAS NOT CONSUMMATED A BUSINESS COMBINATION BY THE EXTENDED TERMINATION DATE.**

**Q.** **Why should I vote for the Charter Amendment Proposal and the Trust Amendment Proposal?** 

A. The
 Board believes stockholders will benefit from the Company's consummating the Initial Business Combination and is proposing
 the Charter Amendment Proposal and the Trust Amendment Proposal to extend the date by which the Company must complete the Initial
 Business Combination. Approval of the Charter Amendment Proposal and the Trust Amendment Proposal would give the Company additional
 time to identify a target and complete an Initial Business Combination and would allow you as a stockholder the benefit of voting
 for the Initial Business Combination and remaining a stockholder in the post-business combination company, if you desire.

Accordingly, we believe that the Charter Amendment Proposal and the Trust Amendment Proposal is consistent with the spirit in which the Company offered its securities to the public in the IPO.

You will have redemption rights in connection with the Charter Amendment Proposal and the Trust Amendment Proposal.

**Q.** **May I redeem my Public Shares in connection with the vote on the Charter Amendment Proposal and the Trust Amendment Proposal?** 

A. Yes.
 Under our Charter, the submission of a matter to amend our Charter entitles holders of Public Shares to redeem their shares for their
 pro rata portion of the funds held in the Trust Account established at the time of the IPO. Holders of Public Shares do not need
 to vote against the Charter Amendment Proposal and the Trust Amendment Proposal or be a holder of record on the Record Date to exercise
 their redemption rights.

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, with respect to holders' right to redeem, the Company will (i) remove from the Trust Account an amount (the "**<u>Withdrawal Amount</u>**") equal to the pro rata portion of funds available in the Trust Account relating to any Public Shares redeemed by holders in connection with the Charter Amendment Proposal and the Trust Amendment Proposal, if any, and (ii) deliver to the holders of such redeemed Public Shares their pro rata portion of the Withdrawal Amount. The remainder of such funds shall remain in the Trust Account and be available for use by the Company to complete an Initial Business Combination on or before each Extension date, if applicable. Holders of Public Shares who do not redeem their Public Shares now will retain their redemption rights and their ability to vote on the Initial Business Combination.

**Q.** **Will the Company be affected by the Excise Tax included in the Inflation Reduction Act of 2022** 

A. On
 August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the
 "  **<u>IR Act</u>** "), which, among other things, imposes a 1% excise tax on
 any publicly traded domestic corporation that repurchases its stock after December 31, 2022
 (the "  **<u>Excise Tax</u>** "). The Excise Tax is imposed on the fair market
 value of the repurchased stock, with certain exceptions. Because we are a Delaware corporation
 and our securities are trading on Nasdaq, we will be a "covered corporation"
 within the meaning of the IR Act. While not free from doubt, absent any further guidance
 from the U.S. Department of the Treasury (the "  **<u>Treasury</u>** "), who
 has been given authority to provide regulations and other guidance to carry out and prevent
 the abuse or avoidance of the Excise Tax, the Excise Tax may apply to any redemptions
 of our common stock after December 31, 2022, including redemptions in connection with an
 Initial Business Combination, extension vote or otherwise, unless an exemption is
 available. Issuances of securities in connection with our Initial Business Combination
 transaction (including any PIPE transaction at the time of our Initial Business Combination,
 as well as any other issuances of securities not in connection with our Initial Business
 Combination) are expected to reduce the amount of the Excise Tax in connection with redemptions
 occurring in the same calendar year, but the number of securities redeemed may exceed the
 number of securities issued. Whether
 and to what extent the Company would be subject to the Excise Tax in connection with a business combination, extension
 vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions and repurchases in
 connection with the business combination, extension or otherwise, (ii) the structure of a business combination, (iii)
 the nature and amount of any "PIPE" or other equity issuances in connection with a business combination (or otherwise
 issued not in connection with a business combination but issued within the same taxable year of a Business Combination) and
 (iv) the content of regulations and other guidance from the Treasury. In addition, because the Excise Tax would be payable
 by the Company and not by the redeeming holder, the mechanics of any required payment of the Excise Tax have not been determined.
 Consequently, the Excise Tax may make a transaction with us less appealing to potential business combination targets. Finally,
 based on recently issued interim guidance from the Internal Revenue Service and Treasury in Notice 2023-2, subject to certain exceptions,
 the Excise Tax should not apply in the event of our liquidation.

**Q.** **Why is the Company proposing the Adjournment Proposal?** 

A. The
 Company is proposing the Adjournment Proposal in order to allow the Company more time to solicit additional proxies in favor of the
 Charter Amendment Proposal and the Trust Amendment Proposal, in the event the Company does not receive the requisite stockholder
 vote to approve the Charter Amendment Proposal and the Trust Amendment Proposal.

**Q.** **How do the Company's executive officers, directors and affiliates intend to vote their shares?** 

A. All
 of the Company's directors, executive officers and their respective affiliates, as well as the Sponsor, are expected to vote
 any shares of Common Stock over which they have voting control (including any Public Shares owned by them) in favor of the Charter
 Amendment Proposal and the Trust Amendment Proposal and the Adjournment Proposal.

Our executive officers and directors are not entitled to redeem such shares in connection with the Charter Amendment Proposal and the Trust Amendment Proposal. On the Record Date, they held 2,875,000 shares of Class B common stock and 528,500 shares of Class A common stock representing approximately 22.8% of the Company's issued and outstanding shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;**Q.** **What vote is required to adopt the proposals?** 

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| A. | **Charter Amendment Proposal**. The Charter Amendment Proposal must be approved by the affirmative vote of sixty-five percent (65%) or more all then outstanding shares of the Common Stock. |
|  | **Trust Amendment Proposal**. The Trust Amendment Proposal must be approved by the affirmative vote of sixty-five percent (65%) or more of all then outstanding shares of the Class A Common Stock and Class B common stock voting together as a single class . |
|  | **Adjournment Proposal**. The Adjournment Proposal must be approved by the affirmative vote of the holders of a majority of the shares of Common Stock present or represented at the Special Meeting, by ballot, proxy or electronic ballot, and entitled to vote at the Meeting.. |
| **Q.** | **What if I do not want to approve the Charter Amendment Proposal, the Trust Amendment Proposal or the Adjournment Proposal?** |
| A. | If you do not want to approve the Charter Amendment Proposal, the Trust Amendment Proposal or the Adjournment Proposal, you must vote against each proposal. The approval of the Charter Amendment Proposal and the Trust Amendment Proposal are essential to the implementation of our board's plan to extend the date by which we must consummate our Initial Business Combination. Therefore, our board will abandon and not implement the Charter Amendment Proposal unless our stockholders approve both the Charter Amendment Proposal and the Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect. |
| **Q.** | **Will you seek any further extensions to liquidate the Trust Account?** |
| A. | Other than the twelve (12) month-to-month Extensions from April 3, 2023 until April 3, 2024, the Extended Termination Date, as applicable, as of the date of this proxy statement, we do not anticipate seeking any further extension to consummate an Initial Business Combination, although we may determine to do so in the future, if necessary. |
| **Q.** | **What happens if the Charter Amendment Proposal and the Trust Amendment Proposal are not approved?** |
| A. | If the Charter Amendment Proposal and the Trust Amendment Proposal are not approved at the Special Meeting, and we have not consummated an Initial Business Combination by April 3, 2023, it will trigger our automatic winding up, liquidation and dissolution of the Company pursuant to the terms of our Charter. No vote would be required from our stockholders to commence such a voluntary winding up, liquidation and dissolution under the terms of our Charter. |

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If we are forced to liquidate the Trust Account, we anticipate that we would distribute to our Public Stockholders the amount in the Trust Account calculated as of the date that is two days prior to the distribution date (including any accrued interest). Prior to such distribution, we would be required to assess all claims that may be potentially brought against us by our creditors for amounts they are actually owed and make provision for such amounts, as creditors take priority over our Public Stockholders with respect to amounts that are owed to them. We cannot assure you that we will properly assess all claims that may be potentially brought against us. As such, our stockholders could potentially be liable for any claims of creditors to the extent of distributions received by them as an unlawful payment in the event we enter an insolvent liquidation. Furthermore, while we will seek to have all vendors and service providers (which would include any third parties we engaged to assist us in any way in connection with our search for a target business) and prospective target businesses execute agreements with us waiving any right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account, there is no guarantee that they will execute such agreements. Nor is there any guarantee that, even if such entities execute such agreements with us, they will not seek recourse against the Trust Account or that a court would conclude that such agreements are legally enforceable.

Our stockholders as of immediately prior to our IPO, including our Sponsor (our "**<u>Initial Stockholders</u>**") have agreed to waive their rights to participate in any liquidation of our Trust Account or other assets with respect to the shares of Class B common stock held or controlled by our Initial Stockholders prior to the IPO ("**<u>Founder Shares</u>**") and the Private Placement Shares purchased simultaneously with the consummation of the IPO, and to vote their Founder Shares and Private Placement Shares in favor of any dissolution and plan of distribution which we submit to a vote of stockholders. There will be no distribution from the Trust Account with respect to our warrants, which will expire worthless in the event of our winding up.

**Q.** **What happens to the Company's warrants if the Charter Amendment Proposal is approved?** 

A. If
 the Charter Amendment Proposal and the Trust Amendment Proposal are approved, we will retain the blank check company restrictions
 previously applicable to us and continue to attempt to consummate an Initial Business Combination until the Extended Termination
 Date. The public warrants will remain outstanding and only become exercisable 30 days after the completion of an Initial Business
 Combination, provided that we have an effective registration statement under the Securities Act covering the shares of Class A common
 stock issuable upon exercise of the warrants and a current prospectus relating to them is available (or we permit holders to exercise
 warrants on a cashless basis).

**Q.** **If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, what happens next?** 

A. If
 the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Company will continue to attempt to consummate
 the Initial Business Combination until the Extended Termination Date on April 3, 2024, or an earlier date on which the Board otherwise
 determines in its sole discretion that it will not be able to consummate an Initial Business Combination by the Extended Termination
 Date, and does not wish to seek an additional extension. We will remain a reporting company under the Exchange Act and our units,
 Class A common stock and public warrants will remain publicly traded.

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the removal of the Withdrawal Amount from the Trust Account, if any, will reduce the amount remaining in the Trust Account and increase the percentage interest of Company shares of Common Stock held by the Company's officers, directors and their affiliates.

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|:---|:---|
| **Q.** | **Would I still be able to exercise my redemption rights in the future if I vote against any subsequent Initial Business Combination?** |
| A. | Unless you elect to redeem your shares in connection with this stockholder vote to approve the Charter Amendment Proposal and the Trust Amendment Proposal, you will be able to vote on any subsequent Initial Business combination when it is submitted to Stockholders. If you disagree with the Initial Business Combination, you will retain your right to vote against it and/or redeem your Public Shares upon consummation of the Initial Business Combination in connection with the stockholder vote to approve such business combination, subject to any limitations set forth in the Charter. |
| **Q.** | **How do I change my vote?** |
| A. | If you have submitted a proxy to vote your shares and wish to change your vote, or revoke your proxy, you may do so by delivering a later-dated, signed proxy card to Advantage Proxy, Inc. ("**<u>Advantage</u>**"), the Company's proxy solicitation agent at: Toll Free: 877-870-8565; Collect: 206-870-8565, Email: ksmith@advantageproxy.com, prior to the commencement of the Special Meeting. |
| **Q.** | **How are votes counted?** |
| A. | The Company's proxy agent, Advantage will be appointed as inspector of election for the meeting. Votes will be counted by the inspector of election, who will separately count "FOR" and "AGAINST" votes, abstentions, and broker non-votes. |
|  | **Charter Amendment Proposal**. The Charter Amendment Proposal must be approved by the affirmative vote of sixty-five percent (65%) or more all then outstanding shares of the Common Stock.. |
|  | **Trust Amendment Proposal**. The Trust Amendment Proposal must be approved by the affirmative vote of sixty-five percent (65%) or more of all then outstanding shares of the Class A Common Stock and Class B common stock voting together as a single class. |
|  | **Adjournment Proposal**. The Adjournment Proposal must be approved by the affirmative vote of the holders of a majority of the shares of Common Stock present or represented at the Special Meeting, by ballot, proxy or electronic ballot, and entitled to vote at the Meeting. |

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Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, are not treated as votes cast and will have no effect on the proposals. As a result, if you abstain from voting on any of the proposals, your shares will be counted as present for purposes of establishing a quorum (if so present in accordance with the terms of our Charter), but the abstention will have no effect on the outcome of such proposal.

If you do not want to approve the Charter Amendment Proposal, the Trust Amendment Proposal or the Adjournment Proposal, you must vote against each proposal. The approval of the Charter Amendment Proposal and the Trust Amendment Proposal are essential to the implementation of our board's plan to extend the date by which we must consummate our Initial Business Combination. Therefore, our board will abandon and not implement the Charter Amendment Proposal unless our stockholders approve both the Charter Amendment Proposal and the Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect.

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|:---|:---|
| **Q:** | **If my shares are held in "street name" by my bank, brokerage firm or nominee, will they automatically vote my shares for me?** |
| A: | No. If you are a beneficial owner and you do not provide voting instructions to your broker, bank or other holder of record holding shares for you, your shares will not be voted with respect to any proposal for which your broker does not have discretionary authority to vote. If a proposal is determined to be discretionary, your broker, bank or other holder of record is permitted to vote on the proposal without receiving voting instructions from you. If a proposal is determined to be non-discretionary, your broker, bank or other holder of record is not permitted to vote on the proposal without receiving voting instructions from you. The Company believes that the Charter Amendment Proposal and the Trust Amendment Proposal will be considered non-discretionary and therefore your broker, bank or other holder of record holding your shares for you cannot vote your shares without your instruction on any of the proposals presented. A "broker non-vote" occurs when a bank, broker or other holder of record holding shares for a beneficial owner does not vote on a non-discretionary Proposal because the holder of record has not received voting instructions from the beneficial owner. |

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Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, are not treated as votes cast and will have no effect on the Proposals. As a result, if you abstain from voting on any of the Proposals, your shares will be counted as present for purposes of establishing a quorum (if so present in accordance with the terms of the Charter), but the abstention will have no effect on the outcome of such proposal.

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|:---|:---|
| **Q:** | **What will happen if I abstain from voting or fail to vote at the Special Meeting?** |
| A: | At the Special Meeting, Aetherium will count a properly executed proxy marked "ABSTAIN" with respect to a particular proposal as present for purposes of determining whether a quorum is present. Abstentions will have no effect on the outcome of the vote on any of the proposals. |

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If a stockholder who holds share in "street name" does not give the broker voting instructions, the broker is not permitted under applicable self-regulatory organization rules to vote the shares on "non-routine" proposals, such as the Charter Amendment Proposal and the Trust Amendment Proposal. These "broker non-votes" will also count as present for purposes of determining whether a quorum is present and will have no effect on the outcome of the vote on any of the Proposals.

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|:---|:---|
| **Q:** | **What will happen if I sign and return my proxy card without indicating how I wish to vote?** |
| A: | Signed and dated proxies received by Aetherium without an indication of how the stockholder intends to vote on a proposal will be voted as recommended by the Board. |

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|:---|:---|
| **Q:** | **If I am not going to attend the Special Meeting, should I return my proxy card instead?** |
| A: | Yes. Whether you plan to attend the Special Meeting virtually or not, please read the proxy statement carefully, and vote your shares by completing, signing, dating and returning the enclosed proxy card in the postage-paid envelope provided. |
| **Q:** | **May I change my vote after I have mailed my signed proxy card?** |
| A: | Yes. You may change your vote at any time before your proxy is voted at the Special Meeting. You may revoke your proxy by executing and returning a proxy card dated later than the previous one, or by voting again via the Internet, or by submitting a written revocation stating that you would like to revoke your proxy that our proxy solicitor receives prior to the Special Meeting. If you hold your Public Shares through a bank, brokerage firm or nominee, you should follow the instructions of your bank, brokerage firm or nominee regarding the revocation of proxies. If you are a record holder, you should send any notice of revocation or your completed new proxy card, as the case may be, to: |

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Advantage Proxy, Inc.

P.O. Box 13581

Des Moines, WA 98198

Toll Free: 877-870-8565

Collect: 206-870-8565

Email: ksmith@advantageproxy.com

Unless revoked, a proxy will be voted at the Special Meeting in accordance with the stockholder's indicated instructions. In the absence of instructions, proxies which have been signed and returned will be voted FOR each of the Proposals.

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|:---|:---|
| **Q:** | **What should I do if I receive more than one set of voting materials?** |
| A: | You may receive more than one set of voting materials, including multiple copies of this proxy statement/prospectus and multiple proxy cards or voting instruction cards. For example, if you hold your shares in more than one brokerage account, you will receive a separate voting instruction card for each brokerage account in which you hold shares. If you are a holder of record and your shares are registered in more than one name, you will receive more than one proxy card. Please complete, sign, date and return each proxy card and voting instruction card that you receive in order to cast your vote with respect to all of your shares. |
| **Q.** | **What is a quorum requirement?** |
| A. | A quorum of Stockholders is necessary to hold a valid meeting. Holders of a majority of the issued shares entitled to vote at the Special Meeting, present in person (including virtually) or represented by proxy, constitute a quorum. In the absence of a quorum, the Special Meeting will either stand adjourned to the same day/time/place in the following week or will be adjourned to such other day/time/place as the board of directors decides. As of the Record Date for the Special Meeting, 7,451,751 shares of Common Stock, would be required to achieve a quorum. |
| **Q.** | **Who can vote at the Special Meeting?** |
| A. | Only holders of record of the Company's Public Shares at the close of business on [ ]2023 are entitled to have their vote counted at the Special Meeting and any adjournments or postponements thereof. For the purposes of this Proxy Statement "holders of record" means the persons entered in the register of members of the Company as the holders of the relevant shares of Common Stock. On the Record Date, there were 14,903,500 shares of Common Stock outstanding of the Company, including 11,500,000 outstanding Public Shares. |

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**Stockholder of Record: Shares Registered in Your Name**. If on the Record Date your shares were registered directly in your name with the Company's transfer agent, Continental Stock Transfer & Trust Company, then you are a stockholder of record. As a stockholder of record, you may vote in person (including virtually) at the Special Meeting or vote by proxy. Whether or not you plan to attend the Special Meeting virtually, we urge you to fill out and return the enclosed proxy card to ensure your vote is counted.

**Beneficial Owner: Shares Registered in the Name of a Broker or Bank.** If on the Record Date your shares were held, not in your name, but rather in an account at a brokerage firm, bank, dealer, or other similar organization, then you are the beneficial owner of shares held in "street name" and these proxy materials are being forwarded to you by that organization. As a beneficial owner, you have the right to direct your broker or other agent on how to vote the shares in your account. You are also invited to attend the Special Meeting. However, since you are not the stockholder of record, you may not vote your shares in person at the Special Meeting unless you request and obtain a valid proxy from your broker or other agent.

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|:---|:---|
| **Q.** | **Does the Board recommend voting for the Charter Amendment Proposal, the Trust Amendment Proposal. and the Adjournment Proposal?** |
| A. | Yes. The Board recommends that the Company's Stockholders vote "FOR" the Charter Amendment Proposal, "FOR" the Trust Amendment Proposal and "FOR" the Adjournment Proposal. |
| **Q.** | **What interests do the Company's directors and officers have in the approval of the Charter Amendment Proposal and the Trust Amendment Proposal?** |
| A. | The Company's directors, officers and their affiliates have interests in the Charter Amendment Proposal and the Trust Amendment Proposal that may be different from, or in addition to, your interests as a stockholder. These interests include, but are not limited to, beneficial ownership of insider shares and warrants that will become worthless if the Charter Amendment Proposal and the Trust Amendment Proposal are not approved. See the section titled "*Interests of the Company's Directors and Officers*." |
| **Q.** | **What if I object to the Charter Amendment Proposal or the Trust Amendment Proposal? Do I have appraisal rights?** |
| A. | Company Stockholders do not have appraisal rights in connection with the Charter Amendment Proposal or the Trust Amendment Proposal. |
| **Q.** | **On December 29, 2023, it will be two years since the IPO registration statement became effective. Will the Company be deemed an "investment company" under Section 3(a)(1)(A) of the Investment Company Act.?** |
| A. | As of the date hereof, substantially all of the assets held in the trust account are held in money market funds, which primarily invest in U.S. Treasury Bills. There is uncertainty under the Investment Company Act whether certain special purpose acquisition companies, or "SPACs," with trust account assets held in securities, that do not consummate an initial business combination within 24 months after the effective date of the SPAC's IPO registration statement, would fall under the definition of "investment company" under Section 3(a)(1)(A) of the Investment Company Act. The Company's IPO registration statement became effective on December 29, 2021, 2020. Due to this uncertainty, the Company expects that it will instruct Continental Stock Transfer & Trust Company, the trustee with respect to the trust account, to liquidate the U.S. government treasury obligations or money market funds held in the trust account on or prior to December 29, 2023, and thereafter to hold all funds in the trust account in cash until the earlier of consummation of our Initial Business Combination or liquidation of the Company. See "*Risks Related to Being Deemed an Investment Company*". |
| **Q:** | **What do I need to do now?** |
| A: | You are urged to read carefully and consider the information contained in this proxy statement and to consider how the proposals will affect you as a stockholder. You should then vote as soon as possible in accordance with the instructions provided in this proxy statement and on the enclosed proxy card or, if you hold your shares through a brokerage firm, bank or other nominee, on the voting instruction form provided by the broker, bank or nominee. |
| **Q.** | **How do I redeem my Public Shares of the Company?** |
| A. | In connection with the Special Meeting and the vote on the Charter Amendment Proposal, each Public Stockholder may seek to redeem its Public Shares for a pro rata portion of the funds available in the Trust Account, less any taxes we anticipate will be owed on such funds but have not yet been paid. Holders of Public Shares do not need to vote on the Charter Amendment Proposal or be a holder of record on the Record Date to exercise redemption rights. |

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To demand redemption, if you hold physical certificates for Public Shares, you must physically tender your share certificates to Continental Stock Transfer & Trust Company, the Company's transfer agent, at Continental Stock Transfer & Trust Company, One State Street Plaza, 30th Floor, New York, NY 10004, Attn: Mark Zimkind; E-mail: mzimkind@continentalstock.com, no later than two business days prior to the Special Meeting. If you hold your Public Shares in "street name" through a bank, broker or other nominee, you must deliver your shares to Continental Stock Transfer & Trust Company electronically using The Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) System two business days prior to the Special Meeting to demand redemption. You will only be entitled to receive cash in connection with a redemption of these shares if you continue to hold them until the effective date of the Extension Amendment.

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| | |
|:---|:---|
| **Q:** | **Who will solicit and pay the cost of soliciting proxies?** |
| A: | Aetherium will pay the cost of soliciting proxies for the Special Meeting. Aetherium has engaged Advantage Proxy, Inc. ("**<u>Advantage</u>**") to assist in the solicitation of proxies for the Special Meeting. Aetherium has agreed to pay Advantage a fee of up to $[ ], plus disbursements. Aetherium will reimburse Advantage for reasonable out-of-pocket expenses and will indemnify Advantage and its affiliates against certain claims, liabilities, losses, damages and expenses. Aetherium will also reimburse banks, brokers and other custodians, nominees and fiduciaries representing beneficial owners of Public Shares for their expenses in forwarding soliciting materials to beneficial owners of Public Shares and in obtaining voting instructions from those owners. Aetherium's directors, officers and employees may also solicit proxies by telephone, by facsimile, by mail, on the Internet or in person. They will not be paid any additional amounts for soliciting proxies. |

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| | |
|:---|:---|
| **Q:** | **Who can help answer my questions?** |
| A: | If you have questions about the Proposals or if you need additional copies of this proxy statement or the enclosed proxy card, you should contact our proxy solicitor at: |

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Advantage Proxy, Inc.

P.O. Box 13581

Des Moines, WA 98198

Toll Free: 877-870-8565

Collect: 206-870-8565

Email: ksmith@advantageproxy.com

You may also obtain additional information about Aetherium from documents filed with the SEC by following the instructions in the section titled "*Where You Can Find More Information*."

**FORWARD-LOOKING STATEMENTS**

We believe it is important to communicate our expectations to our stockholders. However, there may be events in the future that we are not able to predict accurately or over which we have no control. The cautionary language discussed in this proxy statement provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described by us in such forward-looking statements, including, among other things, claims by third parties against the Trust Account, unanticipated delays in the distribution of the funds from the Trust Account and the Company's ability to finance and consummate a business combination following the distribution of funds from the Trust Account. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this proxy statement and to consider the risks, uncertainties and events discussed in this proxy statement, in addition to the risk factors set forth in our other filings with the SEC, including the final prospectus related to the IPO dated December 29, 2021 and filed with the SEC on January 3, 2022 pursuant to Rule 421(b)(4) (File No. 333-258072), and the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on February 28,, 2022, and any that may be set forth in the Initial Business Combination Registration Statement on Form S-4 or Initial Business Combination Proxy Statement, as applicable. The documents we file with the SEC, including those referred to above, also discuss some of the risks that could cause actual results to differ from those contained or implied in the forward-looking statements. See "*Where You Can Find More Information*" for additional information about our filings.

All forward-looking statements included herein attributable to the Company or any person acting on the Company's behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Except to the extent required by applicable laws and regulations, the Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this proxy statement or to reflect the occurrence of unanticipated events.

**BACKGROUND**

**The Company**

Aetherium was incorporated on April 15, 2021 and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our "**Initial Business Combination**". As disclosed in the Company's prospectus dated December 29, 2021 in connection with its initial public offering (the "**<u>IPO</u>**"), pursuant to the Trust Agreement and the Company's Charter, Aetherium has until April 3, 2023 to complete the Initial Business Combination. If the Initial Business Combination is not completed prior to April 3, 2023, Aetherium can extend the time to complete the Initial Business Combination only by the amendment of its Charter which requires the approval of at least 65% of the holders of the Company's outstanding Common Stock, which include the holders of both the Class A common stock and the Class B common stock.

If Aetherium is unable to complete its Initial Business Combination within such period Aetherium must: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

Following the closing of the IPO on April 3, 2022 and the underwriters' full exercise of over-allotment option on the same date, approximately $116.7 million from the net proceeds of the sale of the Public Units in the IPO (each Unit consists of one share of Class A common stock and one redeemable warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share) and the sale of the Private Units was placed in a trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee (the "**<u>Trust Account</u>**"). The Private Units are the same as the Public Units. The funds held in the Trust Account are and will be invested only in United States "government securities" within the meaning of Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government treasury obligations, so that Aetherium is not deemed to be an investment company under the Investment Company Act. Except with respect to interest earned on the funds held in the Trust Account that may be released to Aetherium to pay its income or other tax obligations, the proceeds will not be released from the Trust Account until the earlier of the completion of an Initial Business Combination or the redemption of 100% of the outstanding shares of common stock if Aetherium has not completed an Initial Business Combination in the required time period. The proceeds held in the Trust Account may be used as consideration to pay the sellers of a target business with which Aetherium completes an Initial Business Combination. Any amounts not paid as consideration to the sellers of the target business may be used to finance operations of the target business.

The Company is still in the process of identifying a potential business combination target company for an Initial Business Combination.

Our Charter provides for the return of the IPO proceeds held in the Trust Account to the holders of Public Shares if it has not consummated a business combination(s) on or before April 3, 2023.

The mailing address of our principal executive office is: 79B Pemberwick Rd., Greenwich, CT 06831.

**Failure to Timely Complete an Initial Business Combination**

As disclosed in the Company's prospectus dated December 29, 2021 in connection with its IPO, pursuant to the Trust Agreement, and the Company's Charter, if Aetherium does not complete the Initial Business Combination within 15 months from the closing of the IPO, or April 3, 2023, it would cease all operations except for the purpose of winding up the Company.

Aetherium and its board of directors have determined that there will not be sufficient time before April 3, 2023 to identify a target, file an Initial Business Combination Registration Statement or Initial Business Combination Proxy Statement related to the transaction, or to hold a Special Meeting to obtain stockholder approval of, and to consummate, the Initial Business Combination. Accordingly, Aetherium's board has determined that, given Aetherium's expenditure of time, effort and money on identifying a suitable company as a target business and completing its Initial Business Combination, it is in the best interests of its stockholders to approve the Charter Amendment Proposal and the Trust Amendment Proposal in order to amend the Charter and to amend the Trust Agreement. Assuming that the Charter Amendment Proposal and the Trust Amendment Proposal are so approved, and both the Charter and the Trust Agreement are amended, Aetherium will have to consummate an Initial Business Combination before the Extended Termination Date.

**You are not being asked to vote on any business combination at this time. If the Charter Amendment Proposal and the Trust Amendment Proposal are implemented and you do not elect to redeem your Public Shares now, you will retain the right to vote on an Initial Business combination when it is submitted to stockholders and the right to redeem your Public Shares into a pro rata portion of the Trust Account in the event a business combination is approved and completed or the Company has not consummated a business combination by the Extended Termination Date.**

If Aetherium's board of directors determines that Aetherium will not be able to consummate an Initial Business Combination by the Extended Termination Date, and does not wish to seek an additional Extension, Aetherium would then look to wind up the Company's affairs and redeem 100% of the outstanding Public Shares.

In connection with the Charter Amendment Proposal and the Trust Amendment Proposal, public stockholders may elect (the "**<u>Election</u>**") to redeem their shares for a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest not previously released to Aetherium to pay franchise and income taxes, divided by the number of then outstanding Public Shares, regardless of whether such public stockholders vote "FOR" or "AGAINST" the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal, and an Election can also be made by public stockholders who do not vote, or do not instruct their broker or bank how to vote, at the Special Meeting. Public stockholders may make an Election regardless of whether such public stockholders were holders as of the record date. If the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal are approved by the requisite vote of stockholders, the remaining holders of Public Shares will retain their right to redeem their Public Shares when an Initial Business combination is submitted to the stockholders, subject to any limitations set forth in our Charter, as amended by the Charter Amendment Proposal. However, Aetherium will not proceed with the Charter Amendment Proposal or the Trust Amendment Proposal if the redemption of Public Shares in connection therewith would cause Aetherium to have net tangible assets of less than $5,000,001. Each redemption of shares by our public stockholders will decrease the amount in our Trust Account, which held approximately $[117.4] million of marketable securities as of [ ], 2023. In addition, public stockholders who do not make the Election would be entitled to have their shares redeemed for cash if Aetherium has not completed an Initial Business Combination by the Extended Termination Date. Our sponsor, our officers and directors and our other initial stockholders, own an aggregate of 3,403,500 shares of our common stock, which includes 2,875,000 shares of Class B common stock that we refer to as the "**<u>Founder Shares</u>**", issued prior to our initial public offering ("**<u>IPO</u>**") and 528,500 shares of our Class A common stock, which we refer to as the "**<u>Private Placement Shares</u>**", that were included in the units purchased in a private placement which occurred simultaneously with the completion of the IPO.

**To exercise your redemption rights, you must tender your shares to the Company's transfer agent at least two business days prior to the Special Meeting (or [ ], 2023). You may tender your shares by either delivering your share certificate to the transfer agent or by delivering your shares electronically using the Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) system. If you hold your shares in street name, you will need to instruct your bank, broker or other nominee to withdraw the shares from your account in order to exercise your redemption rights.**

As of [ ], 2023, there was approximately $[117.4] million in the Trust Account. If the Charter Amendment Proposal and the Trust Amendment Proposal are approved and the Extension Termination Date is extended to April 3, 2024, the redemption price per share at the meeting for the Initial Business Combination or the Company's subsequent liquidation will be approximately $10.95 per share (assuming no redemptions and without taking into account any interest), in comparison to the current redemption price of approximately $10.21 per share. The closing price of the Company's common stock on [ ], 2023 was $[ ]. The Company cannot assure stockholders that they will be able to sell their shares of the Company's common stock in the open market, even if the market price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in its securities when such stockholders wish to sell their shares.

If the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal are not approved and we do not consummate an Initial Business Combination by April 3, 2023, as contemplated by our IPO prospectus and in accordance with our Charter, we (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. In the event of a liquidation, our sponsor, our officers and directors and our other initial stockholders, will not receive any monies held in the Trust Account as a result of their ownership of the Founder Shares or the Private Placement Shares.

Subject to the foregoing, the affirmative vote of at least 65% of the Company's outstanding common stock, including the Founder Shares and the Private Placement Shares, will be required to approve the Charter Amendment Proposal and the Trust Amendment Proposal. The approval of the Charter Amendment Proposal and the Trust Amendment Proposal are essential to the implementation of our board's plan to extend the date by which we must consummate our Initial Business Combination. Therefore, our board will abandon and not implement the Charter Amendment Proposal and the Trust Amendment Proposal unless our stockholders approve both the Charter Amendment Proposal and the Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect. Notwithstanding stockholder approval of the Charter Amendment Proposal and the Trust Amendment Proposal, our board will retain the right to abandon and not implement the Charter Amendment Proposal and the Trust Amendment Proposal at any time without any further action by our stockholders.

Our board has fixed the close of business on [ ], 2023 as the date for determining the Company stockholders entitled to receive notice of and vote at the Special Meeting and any adjournment thereof. Only holders of record of the Company's common stock on that date are entitled to have their votes counted at the Special Meeting or any adjournment thereof.

**After careful consideration of all relevant factors, the board of directors has determined that each of the proposals are advisable and recommends that you vote or give instruction to vote "FOR" such proposals.**

**Voting Rights and Revocation of Proxies**

The record date with respect to this solicitation is the close of business on [ ], 2023 (the "**<u>Record Date</u>**") and only stockholders of record at that time will be entitled to vote at the Special Meeting and any adjournment or adjournments thereof.

The shares of the Company's common stock ("**<u>Common Stock</u>**") represented by all validly executed proxies received in time to be taken to the Special Meeting and not previously revoked will be voted at the meeting. This proxy may be revoked by the stockholder at any time prior to its being voted by filing with the Secretary of the Company either a notice of revocation or a duly executed proxy bearing a later date. We intend to release this Proxy Statement and the enclosed proxy card to our stockholders on or about [ ]2023.

**Dissenters' Right of Appraisal**

Holders of shares of our Common Stock do not have appraisal rights under Delaware law or under the governing documents of the Company in connection with this solicitation.

**Outstanding Shares and Quorum**

The number of outstanding shares of Common Stock (which includes the Company's Class A common stock and Class B common stock) entitled to vote at the Special Meeting is 14,903,500. Each share of Common Stock is entitled to one vote. The presence in person or by proxy at the Special Meeting of the holders of 7,451,751 shares, or a majority of the number of outstanding shares of Common Stock, will constitute a quorum. There is no cumulative voting. Shares that abstain or for which the authority to vote is withheld on certain matters (so-called "broker non-votes") will be treated as present for quorum purposes on all matters. The Company's warrants do not carry voting rights.

**Broker Non-Votes**

Holders of shares of our Class A common stock that are held in street name must instruct their bank or brokerage firm that holds their shares how to vote their shares. If a stockholder does not give instructions to his or her bank or brokerage firm, it will nevertheless be entitled to vote the shares with respect to "routine" items, but it will not be permitted to vote the shares with respect to "non-routine" items. In the case of a non-routine item, such shares will be considered "broker non-votes" on that proposal.

Proposal 1 (Charter Amendment Proposal) is a matter that we believe will be considered "non-routine."

Proposal 2 (Trust Amendment Proposal) is a matter that we believe will be considered "non-routine."

Proposal 3 (Adjournment Proposal) is a matter that we believe will be considered "routine."

Banks or brokerages cannot use discretionary authority to vote shares on Proposals 1 or 2 if they have not received instructions from their clients. Please submit your vote instruction form so your vote is counted.

**Required Votes for Each Proposal to Pass**

Assuming the presence of a quorum at the Special Meeting:

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|:---|:---|:---|
| **Proposal** | **Vote Required** | **Broker**<br> **Discretionary**<br> **Vote Allowed** |
| Charter Amendment Proposal | At least 65% of outstanding shares | No |
| Trust Amendment Proposal | At least 65% of outstanding shares | No |
| Adjournment Proposal | Majority of the outstanding shares represented by virtual attendance or by proxy and entitled to vote thereon at the Special Meeting | Yes |

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Abstentions will count as a vote against each of the proposals.

**Interests of the Company's Directors and Officers**

When you consider the recommendation of our board, you should keep in mind that the Company's initial stockholders, sponsor, officers, directors and advisors have interests that may be different from, or in addition to, your interests as a stockholder. These interests include, among other things:

● the fact that the Sponsor paid an aggregate of $25,000 for its Founder Shares and such securities will have a significantly higher value at the time of the Initial Business Combination;

● the fact that if the Initial Business Combination is not approved, in accordance with our Charter, the 2,875,000 Founder Shares held by our sponsor, our officers and directors, which were acquired prior to the IPO for an aggregate purchase price of $25,000, will be worthless (as the holders have waived liquidation rights with respect to such shares), as will the 528,500 Private Placement Shares included in the private units that were acquired simultaneously with the IPO in the private placement for an aggregate purchase price of $5,285,000. Irrespective of existing lock-up agreements that impose restrictions on the transfer of the Founder Shares and Private Placement Shares, such Founder Shares and Private Placement Shares had an aggregate market value of approximately $[ ] million based on the last sale price of $[ ], on Nasdaq on [ ], 2023;

● if we are unable to complete an Initial Business Combination and distribute the proceeds held in trust to our public stockholders, our sponsor has agreed (subject to certain exceptions) that it will be liable to ensure that the proceeds in the Trust Account are not reduced below $10.15 per share by the claims of target businesses or claims of vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us;

● all rights specified in the Company's Charter relating to the right of officers and directors to be indemnified by the Company, and of the Company's officers and directors to be exculpated from monetary liability with respect to prior acts or omissions, will continue after an Initial Business Combination. If the Initial Business Combination is not approved and the Company liquidates, the Company will not be able to perform its obligations to its officers and directors under those provisions; and

● our sponsor, officers, directors, initial stockholders or their affiliates, are entitled to reimbursement of out-of-pocket expenses incurred by them in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations. However, if the Company fails to consummate the Initial Business Combination, they will not have any claim against the Trust Account for reimbursement. Accordingly, the Company will most likely not be able to reimburse these expenses if the Initial Business Combination is not completed. As of [ ], 2023 no out-of-pocket expenses are owed to our officers, directors and Sponsor.

● Aetherium's initial stockholders could benefit from the completion of a business combination that is not favorable to its public stockholders and may be incentivized to complete an acquisition of a less favorable target company or on terms less favorable to public stockholders rather than liquidate. For example, if the share price of the Aetherium Common Stock declined to $5.00 per share after the close of the business combination, Aetherium's public stockholders that purchased shares in the initial public offering, would have a loss of $5.00 per share, while Aetherium's initial stockholders would have a gain of $4.99 per share because it acquired the Founder Shares for a nominal amount. In other words, Aetherium's initial stockholders can earn a positive rate of return on their investment even if public stockholders experience a negative rate of return in the post-combination company.

Additionally, if the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Extension is implemented and the Company consummates an Initial Business Combination, the officers and directors may have additional interests that would be described in the proxy statement for such transaction.

**Voting Procedures**

Each share of our Class A common stock that you own in your name entitles you to one vote on each of the proposals for the Special Meeting. Your proxy card shows the number of shares of our common stock that you own.

● You can vote your shares in advance of the Special Meeting by completing, signing, dating and returning the enclosed proxy card in the postage-paid envelope provided. If you hold your shares in "street name" through a broker, bank or other nominee, you will need to follow the instructions provided to you by your broker, bank or other nominee to ensure that your shares are represented and voted at the Special Meeting. If you vote by proxy card, your "proxy," whose name is listed on the proxy card, will vote your shares as you instruct on the proxy card. If you sign and return the proxy card but do not give instructions on how to vote your shares, your shares of our Class A common stock will be voted as recommended by our board of directors. Our board of directors recommends voting "FOR" the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal.

● You can attend the Special Meeting and vote telephonically even if you have previously voted by submitting a proxy. However, if your shares of common stock are held in the name of your broker, bank or other nominee, you must get a proxy from the broker, bank or other nominee. That is the only way we can be sure that the broker, bank or nominee has not already voted your shares of common stock.

**Solicitation of Proxies**

Your proxy is being solicited by our board on the proposals being presented to stockholders at the Special Meeting. The Company has agreed to pay Advantage Proxy, Inc. ("**<u>Advantage</u>**") its customary fee and out-of-pocket expenses. The Company will reimburse Advantage for reasonable out-of-pocket expenses and will indemnify Advantage and its affiliates against certain claims, liabilities, losses, damages and expenses. In addition to these mailed proxy materials, our directors and officers may also solicit proxies in person, by telephone or by other means of communication. These parties will not be paid any additional compensation for soliciting proxies. We may also reimburse brokerage firms, banks and other agents for the cost of forwarding proxy materials to beneficial owners. You may contact Advantage at:

Advantage Proxy, Inc.

P.O. Box 13581

Des Moines, WA 98198

Toll Free: 877-870-8565

Collect: 206-870-8565

Email: ksmith@advantageproxy.com

The cost of preparing, assembling, printing and mailing this Proxy Statement and the accompanying form of proxy, and the cost of soliciting proxies relating to the Special Meeting, will be borne by the Company.

Some banks and brokers have customers who beneficially own common stock listed of record in the names of nominees. We intend to request banks and brokers to solicit such customers and will reimburse them for their reasonable out-of-pocket expenses for such solicitations. If any additional solicitation of the holders of our outstanding common stock is deemed necessary, we (through our directors and officers) anticipate making such solicitation directly.

**Delivery of Proxy Materials to Stockholders**

Only one copy of this Proxy Statement will be delivered to an address where two or more stockholders reside with the same last name or whom otherwise reasonably appear to be members of the same family based on the stockholders' prior express or implied consent.

We will deliver promptly upon written or oral request a separate copy of this Proxy Statement. If you share an address with at least one other stockholder, currently receive one copy of our Proxy Statement at your residence, and would like to receive a separate copy of our Proxy Statement for future stockholder meetings of the Company, please specify such request in writing and send such written request to Aetherium Acquisition Corp., 79B Pemberwick Rd., Greenwich, CT 06831; Attention: Secretary, or call the Company promptly at (650) 450-6836.

If you share an address with at least one other stockholder and currently receive multiple copies of our Proxy Statement, and you would like to receive a single copy of our Proxy Statement, please specify such request in writing and send such written request to Aetherium Acquisition Corp., 79B Pemberwick Rd., Greenwich, CT 06831; Attention: Secretary.

**Redemption Rights**

Pursuant to our currently existing charter, any holders of our Public Shares may demand that such shares be redeemed for a pro rata share of the aggregate amount on deposit in the Trust Account, less taxes payable, calculated as of two business days prior to the Special Meeting. Public stockholders may seek to have their shares redeemed regardless of whether they vote for or against the proposals and whether or not they are holders of our common stock as of the Record Date. If you properly exercise your redemption rights, your shares will cease to be outstanding and will represent only the right to receive a pro rata share of the aggregate amount on deposit in the Trust Account which holds the proceeds of our IPO (calculated as of two business days prior to the Special Meeting). For illustrative purposes, based on funds in the Trust Account of approximately $[117.4] million on [ ], 2023, the estimated per share conversion price would have been approximately $[10.21].

In order to exercise your redemption rights, you must:

● submit a request in writing prior to 5:00 p.m., Eastern time on [ ], 2023 (two business days before the Special Meeting) that we redeem your Public Shares for cash to Continental Stock Transfer & Trust Company, our transfer agent, at the following address:

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Mark Zimkind

E-mail: mzimkind@continentalstock.com

and

● deliver your shares of Class A common stock either physically or electronically through DTC to our transfer agent at least two business days before the Special Meeting. Stockholders seeking to exercise their redemption rights and opting to deliver physical certificates should allot sufficient time to obtain physical certificates from the transfer agent and time to effect delivery. It is our understanding that stockholders should generally allot at least two weeks to obtain physical certificates from the transfer agent. However, we do not have any control over this process and it may take longer than two weeks. Stockholders who hold their shares in street name will have to coordinate with their broker, bank or other nominee to have the shares certificated or delivered electronically. If you do not submit a written request and deliver your shares of Class A common stock as described above, your shares will not be redeemed.

Any demand for redemption, once made, may be withdrawn at any time until the deadline for exercising redemption requests (and submitting shares to the transfer agent) and thereafter, with our consent. If you delivered your shares for redemption to our transfer agent and decide within the required timeframe not to exercise your redemption rights, you may request that our transfer agent return the shares (physically or electronically). You may make such request by contacting our transfer agent at the phone number or address listed above.

Prior to exercising redemption rights, stockholders should verify the market price of our common stock, as they may receive higher proceeds from the sale of their common stock in the public market than from exercising their redemption rights if the market price per share is higher than the redemption price. We cannot assure you that you will be able to sell your shares of our common stock in the open market, even if the market price per share is higher than the conversion price stated above, as there may not be sufficient liquidity in our common stock when you wish to sell your shares.

If you exercise your redemption rights, your shares of our common stock will cease to be outstanding immediately prior to the Special Meeting (assuming the Charter Amendment Proposal and the Trust Amendment Proposal are approved) and will only represent the right to receive a pro rata share of the aggregate amount on deposit in the Trust Account. You will no longer own those shares and will have no right to participate in, or have any interest in, the future growth of the Company, if any. You will be entitled to receive cash for these shares only if you properly and timely request redemption.

If the Charter Amendment Proposal and the Trust Amendment Proposal are not approved and we do not consummate an Initial Business Combination by April 3, 2023, we will be required to dissolve and liquidate our Trust Account by returning the then remaining funds in such account to the public stockholders and warrants will expire worthless.

Holders of outstanding units must separate the underlying shares of Class A common stock and public warrants prior to exercising conversion rights with respect to the shares of Class A common stock.

If you hold units registered in your own name, you must deliver the certificate for such units to Continental Stock Transfer & Trust Company with written instructions to separate such units into Public Shares and public warrants. This must be completed far enough in advance to permit the mailing of the public share certificates back to you so that you may then exercise your conversion rights with respect to the Public Shares upon the separation of the Public Shares from the units.

If a broker, dealer, commercial bank, trust company or other nominee holds your units, you must instruct such nominee to separate your units. Your nominee must send written instructions by facsimile to Continental Stock Transfer & Trust Company. Such written instructions must include the number of units to be split and the nominee holding such units. Your nominee must also initiate electronically, using DTC's deposit withdrawal at custodian (DWAC) system, a withdrawal of the relevant units and a deposit of an equal number of Public Shares and public warrants. This must be completed far enough in advance to permit your nominee to exercise your conversion rights with respect to the Public Shares upon the separation of the Public Shares from the units. While this is typically done electronically the same business day, you should allow at least one full business day to accomplish the separation. If you fail to cause your Public Shares to be separated in a timely manner, you will likely not be able to exercise your conversion rights.

**SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT**

The following table sets forth certain information with respect to the beneficial ownership of our voting securities by (i) each of our founders, officers and directors, (ii) all of our officers and directors as a group and (iii) each person who is known by us to be the beneficial owner of more than 5% of our issued and outstanding common stock, as of the Record Date. The percentages below are based on 14,903,500 shares of the Company's common stock issued and outstanding (comprised of 12,028,500 Class A shares and 2,875,000 Class B shares), including common shares underlying the Company's units. The following table does not reflect record of beneficial ownership of the warrants included in the units or the private units issued pursuant to the Company's initial public offering as these warrants are not convertible until consummation of the Company's Initial Business Combination.

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| | | | |
|:---|:---|:---|:---|
| **Name and Address of Beneficial Owner<sup>(1)</sup>** | **Number of Shares of**<br> **Class A**<br> **Common Stock Beneficially Owned**  | **Number of Shares of**<br> **Class B**<br> **Common Stock Beneficially**<br> **Owned <sup>(2)</sup>**  | **Approximate Percentage of Outstanding Shares** |
| *Founders, Directors and Executive Officers* |  |  |  |
| Jonathan Chan <sup>(4)</sup> | 528500 | 2830000 | 22.5% |
| Alex Lee |  | 15000 | \* |
| Lim How Teck |  | 10000 | \* |
| Mariana Kou |  | 10000 | \* |
| Charles Abelmann |  | 10000 | \* |
| All directors and officers as a group (five individuals) | 528500 | 2875000 | 22.8% |

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| | | | |
|:---|:---|:---|:---|
| **Name and Address of Beneficial Owner** | **Number of Shares Beneficially Owned** | | **Approximate Percentage of Outstanding Shares** |
| *5% or greater beneficial owners* |  |  |  |
| Aetherium Capital Holdings LLC<sup>(3)</sup> | 528500 | 2830000 | 22.5% |
| OCM Value SPAC Holdings, L.P.<sup>(5)</sup> | 700000 |  | 6.1% |

---

\* Less than one percent. 

(1) Unless otherwise indicated, the business address of each of the entities and individuals is c/o Aetherium Acquisition Corp., 79B Pemberwick Rd., Greenwich, CT 06831.

(2) Consists solely of founder shares, classified as shares of Class B common stock, as well as placement shares. Founder shares are convertible into shares of Class A common stock on a one-for-one basis, subject to adjustment, as described in the IPO prospectus.

(3) Jonathan Chan, our Chairman and Chief Executive Officer, as manager, has voting and dispositive power over the shares owned by Aetherium Capital Holdings LLC.

(4) Includes shares owned by Aetherium Capital Holdings LLC, over which Jonathan Chan, as manager, has voting and dispositive power. Mr. Chan disclaims beneficial ownership of such shares, except to the extent of his respective pecuniary interest therein.

(5) Pursuant to a Schedule 13G filed on January 10, 2022. The address for the Reporting Person is Brookfield Place, Suite 300, 181 Bay Street, P.O. Box 762, Toronto, Ontario, Canada M5J 2T3. The report does not name a natural person who directly or indirectly exercises sole or shared voting and/or dispositive power with respect to the securities. The report is signed by Henry Orren, Authorized Signatory.

**Risks Related to Being Deemed an Investment Company**

***The SEC has recently issued proposed rules relating to certain activities of SPACs. Certain of the procedures that we, a potential initial business combination target, or others may determine to undertake in connection with such proposals may increase our costs and the time needed to complete an Initial Business Combination and may make it more difficult to complete an Initial Business Combination. The need for compliance with the SPAC Rule Proposals (as defined below) may cause us to liquidate the funds in the trust account or liquidate the Company at an earlier time than we might otherwise choose.***

On March 30, 2022, the SEC issued proposed rules (the "**<u>SPAC Rule Proposals</u>**") relating, among other items, to disclosures in SEC filings in connection with initial business combination transactions involving SPACs and private operating companies; the financial statement requirements applicable to transactions involving shell companies; the use of projections in SEC filings in connection with proposed initial business combination transactions; the potential liability of certain participants in proposed initial business combination transactions; including a proposed rule that would provide SPACs a safe harbor from treatment as an investment company under the Investment Company Act of 1940, as amended (the "**<u>Investment Company Act</u>**") if they satisfy certain conditions that limit a SPAC's duration, asset composition, business purpose and activities. The SPAC Rule Proposals have not yet been adopted and may be adopted in the proposed form or in a different form that could impose additional regulatory requirements on SPACs.

Certain of the procedures that we, a potential initial business combination target, or others may determine to undertake in connection with the SPAC Rule Proposals, or pursuant to the SEC's views expressed in the SPAC Rule Proposals, may increase the costs and time of negotiating and completing the Initial Business Combination, and may make it more difficult to complete the Initial Business Combination. The need for compliance with the SPAC Rule Proposals may cause us to liquidate the funds in the trust account or liquidate the Company at an earlier time than we might otherwise choose. If we are required to liquidate the Company, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants following such a transaction, and our warrants would expire worthless.

***If we are deemed to be an investment company for purposes of the Investment Company Act, we would be required to institute burdensome compliance requirements and our activities would be severely restricted and, as a result, we may abandon our efforts to consummate the Initial Business Combination and liquidate the Company.***

The Company could potentially be subject to the Investment Company Act and the regulations thereunder. The SPAC Rule Proposals would provide a safe harbor for such companies from the definition of "investment company" under Section 3(a)(1)(A) of the Investment Company Act, provided that a SPAC satisfies certain criteria, including a limited time period to announce and complete a de-SPAC transaction. Specifically, to comply with the safe harbor, the SPAC Rule Proposals would require a company to file a report on Form 8-K announcing that it has entered into an agreement with a target company for an initial business combination no later than 18 months after the effective date of its registration statement for its IPO (the "**<u>IPO Registration Statement</u>**"). The Company would then be required to complete its Initial Business Combination no later than 24 months after the effective date of the IPO Registration Statement.

There is currently uncertainty concerning the applicability of the Investment Company Act to a SPAC, that may not complete its initial business combination within 24 months after the effective date of the IPO Registration Statement. We may not complete the Initial Business Combination within 24 months of such date. As a result, it is possible that a claim could be made that we have been operating as an unregistered investment company.

If we are deemed to be an investment company under the Investment Company Act, our activities would be severely restricted. In addition, we would be subject to burdensome compliance requirements. We do not believe that our principal activities will subject us to regulation as an investment company under the Investment Company Act. However, if we are deemed to be an investment company and subject to compliance with and regulation under the Investment Company Act, we would be subject to additional regulatory burdens and expenses for which we have not allotted funds. As a result, unless we are able to modify our activities so that we would not be deemed an investment company, we would expect to abandon our efforts to complete an initial business combination and instead to liquidate the Company. If we are required to liquidate the Company, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants following such a transaction, and our warrants would expire worthless.

***To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, we expect to instruct the trustee to liquidate the securities held in the Trust Account on or around December 29, 2023, and instead to hold the funds in the Trust Account in cash until the earlier of the consummation of the Initial Business Combination or our liquidation. As a result, following the liquidation of securities in the Trust Account, we would likely receive minimal interest, if any, on the funds held in the Trust Account, which would reduce the dollar amount our public stockholders would receive upon any redemption or liquidation of the Company.***

The funds in the Trust Account have, since the closing of our IPO, been held only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds investing solely in U.S. government treasury obligations and meeting certain conditions under Rule 2a-7 under the Investment Company Act. However, to mitigate the risk of us being deemed to be an unregistered investment company (including under the subjective test of Section 3(a)(1)(A) of the Investment Company Act) and thus subject to regulation under the Investment Company Act, we expect that we will instruct Continental Stock Transfer & Trust Company, the trustee with respect to the Trust Account, to liquidate the U.S. government treasury obligations or money market funds held in the Trust Account on or prior to December 29, 2023, and thereafter to hold all funds in the Trust Account in cash until the earlier of consummation of the Initial Business Combination or liquidation of the Company. Following such liquidation, we would likely receive minimal interest, if any, on the funds held in the Trust Account. However, interest previously earned on the funds held in the Trust Account still may be released to us to pay our taxes, if any, and certain other expenses as permitted. As a result, any decision to liquidate the securities held in the Trust Account and thereafter to hold all funds in the Trust Account in cash would reduce the dollar amount our public stockholders would receive upon any redemption or liquidation of the Company.

In addition, even prior to the 24-month anniversary (December 29, 2023) of the effective date of the IPO Registration Statement, we may be deemed to be an investment company. The longer that the funds in the trust account are held in short-term U.S. government treasury obligations or in money market funds invested exclusively in such securities, even prior to the 24-month anniversary, the greater the risk that we may be considered an unregistered investment company, in which case we may be required to liquidate the Company. If we are required to liquidate the Company, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants following such a transaction, and our warrants would expire worthless. Accordingly, we may determine, in our discretion, to liquidate the securities held in the trust account at any time, even prior to the 24-month anniversary, and instead hold all funds in the trust account in cash, which would further reduce the dollar amount our public stockholders would receive upon any redemption or liquidation of the Company.

**Risk of Being Subject to U.S. Foreign Investment Regulations and Review by a U.S. Government Entity**

***We may not be able to complete an Initial Business Combination with a U.S. target company if such Initial Business Combination is subject to U.S. foreign investment regulations and review by a U.S. government entity such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately prohibited.***

We have no reason to believe that when we consummate an Initial Business Combination that the post-combination company will be considered a "foreign person" under the regulations administered by CFIUS. However, if our Initial Business Combination with a U.S. business is subject to CFIUS review, the scope of which was expanded by the Foreign Investment Risk Review Modernization Act of 2018 ("**<u>FIRRMA</u>**"), to include certain non-passive, non-controlling investments in sensitive U.S. businesses and certain acquisitions of real estate even with no underlying U.S. business, this could delay us in consummating our Initial Business Combination. FIRRMA, and subsequent implementing regulations that are now in force, also subjects certain categories of investments to mandatory filings. If our potential Initial Business Combination with a U.S. business falls within CFIUS's jurisdiction, we may determine that we are required to make a mandatory filing or that we will submit a voluntary notice to CFIUS, or to proceed with the Initial Business Combination without notifying CFIUS and risk CFIUS intervention, before or after closing the Initial Business Combination. CFIUS may decide to block or delay our Initial Business Combination, impose conditions to mitigate national security concerns with respect to such Initial Business Combination or order us to divest all or a portion of a U.S. business of the combined company without first obtaining CFIUS clearance, which may limit the attractiveness of or prevent us from pursuing certain Initial Business Combination opportunities that we believe would otherwise be beneficial to us and our stockholders. As a result, the pool of potential targets with which we could complete an Initial Business Combination may be limited and we may be adversely affected in terms of competing with other special purpose acquisition companies which do not have similar foreign ownership issues.

Moreover, the process of government review, whether by the CFIUS or otherwise, could be lengthy and we have limited time to complete our Initial Business Combination. If we cannot complete our Initial Business Combination by April 3, 2024 due to the passage of time relating to any governmental review, or because any such review process drags on beyond such timeframe, or because our Initial Business Combination is ultimately prohibited by CFIUS or another U.S. government entity, we may be required to liquidate. In such situation, Aetherium would (i) cease all operations except for the purpose of winding up and (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding shares of common stock, at a per-share of common stock price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including any interest not previously released to Aetherium (net of taxes payable), divided by the number of then outstanding shares of Class A common stock, which redemption will completely extinguish public stockholders' rights as holders of shares of common stock (including the right to receive further liquidation distributions, if any), subject to applicable law.

As promptly as reasonably possible following such redemption, Aetherium would dissolve and liquidate, subject to its obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

If we liquidate, our public stockholders may only receive $10.15 per share. This will also cause you to lose the opportunity realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants following such a transaction, and our warrants would expire worthless.

**Risk of not Completing an Initial Business Combination**

***We may not be able to complete our Initial Business Combination within the prescribed time frame, in which case we would cease all operations except for the purpose of winding up and we would redeem our public shares and liquidate, in which case our public stockholders may only receive $10.15 per share, or less than such amount in certain circumstances, and our warrants will expire worthless.***

Our Charter provides that we must complete our Initial Business Combination by April 3, 2023 (the "**<u>Original Termination Date</u>**"). In connection with the Special Meeting, you are being asked to consider and vote upon a proposal (the "**<u>Charter Amendment Proposal</u>**") to amend the Charter in order to extend the Original Termination Date up to twelve (12) times, each such extension for an additional one (1) month period, from April 3, 2023 to April 3, 2024 (the latest such date actually extended being referred to as the "**<u>Extended Termination Date</u>**"). We may not be able to find a suitable target business and complete our Initial Business Combination within such time period. Our ability to complete our Initial Business Combination may be negatively impacted by general market conditions, volatility in the capital and debt markets and the other risks described herein.

If we have not completed our Initial Business Combination by the Original Termination Date or by the Extended Termination Date (if the Charter Amendment Proposal is approved), then we will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. In such case, our public stockholders may only receive $10.15 per share. In certain circumstances, our public stockholders may receive less than $10.15 per share on the redemption of their shares. This will also cause you to lose the investment opportunity to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants following such a transaction, and our warrants would expire worthless.

**PROPOSAL 1: THE CHARTER AMENDMENT PROPOSAL**

This is a proposal to amend Aetherium's amended and restated certificate of incorporation (the "**<u>Charter</u>**"), to extend the date by which Aetherium must consummate its Initial Business Combination up to twelve (12) times (the "**<u>Charter Amendment</u>**"), each such extension for an additional one (1) month period (each an "**<u>Extension</u>**"), from April 3, 2023 to April 3, 2024 (the latest such date actually extended being referred to as the "**<u>Extended Termination Date</u>**") (the "**<u>Charter Amendment Proposal</u>**").

All stockholders are encouraged to read the proposed Charter Amendment Proposal in its entirety for a more complete description of its terms. A copy of the proposed Charter Amendment Proposal is attached hereto as <u>Annex A</u>.

**Reasons for the Proposed Charter Amendment Proposal**

The purpose of the Charter Amendment Proposal is to allow Aetherium more time to complete its Initial Business Combination. Aetherium's Charter provides that Aetherium has only until April 3, 2023 to complete its Initial Business Combination.

**Time to Complete a Business Combination** 

As disclosed in the Company's prospectus dated December 29, 2021 in connection with its initial public offering (the "**<u>IPO</u>**"), pursuant to the Trust Agreement and the Company's Charter, if Aetherium does not complete its Initial Business Combination within 15 months from the closing of the IPO, or April 3, 2023, Aetherium would cease all operations except for the purpose of winding up the Company.

Aetherium and its board of directors have determined that there will not be sufficient time before April 3, 2023 to hold a Special Meeting to obtain stockholder approval of, and to consummate, the Initial Business Combination. Accordingly, Aetherium's board has determined that, given Aetherium's expenditure of time, effort and money on identifying any company as a target business and completing its Initial Business Combination, it is in the best interests of its stockholders to approve the Charter Amendment Proposal and the Trust Amendment Proposal in order to amend the Charter and to amend the Trust Agreement. Assuming that the Charter Amendment Proposal and the Trust Amendment Proposal are so approved, and both the Charter and the Trust Agreement are amended, Aetherium will have to consummate an Initial Business Combination before the Extended Termination Date.

If Aetherium's board of directors determines that Aetherium will not be able to consummate an Initial Business Combination by the Extended Termination Date, and does not wish to seek an additional Extension, Aetherium would then look to wind up the Company's affairs and redeem 100% of the outstanding Public Shares.

In connection with the Charter Amendment Proposal, public stockholders may elect (the "**<u>Election</u>**") to redeem their shares for a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest not previously released to Aetherium to pay franchise and income taxes, divided by the number of then outstanding Public Shares, regardless of whether such public stockholders vote "FOR" or "AGAINST" the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal, and an Election can also be made by public stockholders who do not vote, or do not instruct their broker or bank how to vote, at the Special Meeting. Public stockholders may make an Election regardless of whether such public stockholders were holders as of the record date. If the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal are approved by the requisite vote of stockholders, the remaining holders of Public Shares will retain their right to redeem Public Shares when the Initial Business combination is submitted to the stockholders, subject to any limitations set forth in our Charter, as amended by the Charter Amendment. However, Aetherium will not proceed with the Charter Amendment Proposal and the Trust Amendment Proposal if the redemption of Public Shares in connection therewith would cause Aetherium to have net tangible assets of less than $5,000,001. Each redemption of shares by our public stockholders will decrease the amount in our Trust Account, which held approximately $[117.4] million of marketable securities as of [ ], 2023. In addition, public stockholders who do not make the Election would be entitled to have their shares redeemed for cash if Aetherium has not completed its Initial Business Combination by the Extended Termination Date. Our sponsor, our officers and directors and our other initial stockholders, own an aggregate of 3,403,500 shares of our common stock, which includes 2,875,000 shares of Class B common stock that we refer to as the "**Founder Shares**", issued prior to our initial public offering ("**<u>IPO</u>**") and 528,500 shares of our Class A common stock, which we refer to as the "**Private Placement Shares**" that were included in the units purchased in a private placement which occurred simultaneously with the completion of the IPO.

**Factors to Consider**

When you consider the recommendation of our board, you should consider, among other things, the following benefits and detriments of the proposals to you as the public stockholders:

● If the Charter Amendment Proposal and the Trust Amendment Proposal are approved and the Company extends the Combination Period, the Company will deposit $0.0575 per non-redeeming unit into the Trust Account in connection with each one-month Extension. Accordingly, if the Company elects to utilize all twelve (12) one-month Extensions, the Company will have deposited an aggregate of $0.69 per unit by April 3, 2024.

● Public stockholders may seek to have their shares redeemed regardless of whether they vote for or against the proposals and whether or not they are holders of our Common Stock as of the Record Date. (See "  **<u>Redemption Rights</u>** ").

● Each redemption of shares by our public stockholders will decrease the amount in our Trust Account, which held approximately $[117.4] million of marketable securities as of [ ], 2023. Aetherium will not proceed with the Charter Amendment and Trust Amendment if the redemption of Public Shares in connection therewith would cause Aetherium to have net tangible assets of less than $5,000,001.

**Interests of the Company's Directors and Officers**

When you consider the recommendation of our board, you should keep in mind that the Company's initial stockholders, sponsor, officers, directors and advisors have interests that may be different from, or in addition to, your interests as a stockholder. These interests include, among other things:

● the fact that the Sponsor paid an aggregate of $25,000 for its Founder Shares and such securities will have a significantly higher value at the time of the Initial Business Combination;

● the fact that if the Initial Business Combination is not approved, in accordance with our Charter, the 2,875,000 Founder Shares held by our sponsor, our officers and directors, which were acquired prior to the IPO for an aggregate purchase price of $25,000, will be worthless (as the holders have waived liquidation rights with respect to such shares), as will the 528,500 Private Placement Shares included in the private units that were acquired simultaneously with the IPO in the private placement for an aggregate purchase price of $5,285,000. Irrespective of existing lock-up agreements that impose restrictions on the transfer of the Founder Shares and Private Placement Shares, such Founder Shares and Private Placement Shares had an aggregate market value of approximately $[ ] million based on the last sale price of $[ ], on Nasdaq on [ ], 2023;

● if we are unable to complete an Initial Business Combination and distribute the proceeds held in trust to our public stockholders, our sponsor has agreed (subject to certain exceptions) that it will be liable to ensure that the proceeds in the Trust Account are not reduced below $10.15 per share by the claims of target businesses or claims of vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us;

● all rights specified in the Company's Charter relating to the right of officers and directors to be indemnified by the Company, and of the Company's officers and directors to be exculpated from monetary liability with respect to prior acts or omissions, will continue after an Initial Business Combination. If the Initial Business Combination is not approved and the Company liquidates, the Company will not be able to perform its obligations to its officers and directors under those provisions;

● our sponsor, officers, directors, initial stockholders or their affiliates, are entitled to reimbursement of out-of-pocket expenses incurred by them in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations. However, if the Company fails to consummate the Initial Business Combination, they will not have any claim against the Trust Account for reimbursement. Accordingly, the Company will most likely not be able to reimburse these expenses if the Initial Business Combination is not completed. As of [ ], 2023 no out-of-pocket expenses are owed to our officers, directors and Sponsor; and

● Aetherium's initial stockholders could benefit from the completion of a business combination that is not favorable to its public stockholders and may be incentivized to complete an acquisition of a less favorable target company or on terms less favorable to public stockholders rather than liquidate. For example, if the share price of the Aetherium Common Stock declined to $5.00 per share after the close of the business combination, Aetherium's public stockholders that purchased shares in the initial public offering, would have a loss of $5.00 per share, while Aetherium's initial stockholders would have a gain of $4.99 per share because it acquired the Founder Shares for a nominal amount. In other words, Aetherium's initial stockholders can earn a positive rate of return on their investment even if public stockholders experience a negative rate of return in the post-combination company.

**To exercise your redemption rights, you must tender your shares to the Company's transfer agent at least two business days prior to the Special Meeting (or [ ], 2023). You may tender your shares by either delivering your share certificate to the transfer agent or by delivering your shares electronically using the Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) system. If you hold your shares in street name, you will need to instruct your bank, broker or other nominee to withdraw the shares from your account in order to exercise your redemption rights.**

As of [ ], 2023, there was approximately $[117.4] million in the Trust Account. If the Charter Amendment Proposal and the Trust Amendment Proposal are approved and the Extension Termination Date is extended to April 4, 2024, the redemption price per share at the meeting for the Initial Business Combination or the Company's subsequent liquidation will be approximately $10.95 per share (assuming no redemptions and without taking into account any interest) in comparison to the current redemption price of approximately $10.21 per share. The closing price of the Company's common stock on [ ], 2023 was $[ ]. The Company cannot assure stockholders that they will be able to sell their shares of the Company's common stock in the open market, even if the market price per share is higher than the redemption price stated above, as there may not be sufficient liquidity in its securities when such stockholders wish to sell their shares.

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Company may extend the time to complete an Initial Business Combination on an as-needed, month-to-month basis, until April 3, 2024. If the Charter Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal are not approved and we do not consummate an Initial Business Combination by April 3, 2023, as contemplated by our IPO prospectus and in accordance with our Charter, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our Initial Business Combination within the initial 15-month time period. In the event of a liquidation, our sponsor, our officers and directors and our other initial stockholders will not receive any monies held in the Trust Account as a result of their ownership of the Founder Shares or the Private Placement Shares.

**Required Vote**

Subject to the foregoing, the affirmative vote of at least 65% of the Company's outstanding common stock, including the Founder Shares and the Private Placement Shares will be required to approve the Charter Amendment Proposal and the Trust Amendment Proposal. The approval of the Charter Amendment Proposal and the Trust Amendment Proposal are essential to the implementation of our board's plan to extend the date by which we must consummate our Initial Business Combination. Therefore, our board will abandon and not implement the Charter Amendment Proposal unless our stockholders approve the Charter Amendment Proposal and the Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect. Notwithstanding stockholder approval of the Charter Amendment Proposal and the Trust Amendment Proposal, our board will retain the right to abandon and not implement the Charter Amendment Proposal or the Trust Amendment Proposal at any time without any further action by our stockholders.

Our board has fixed the close of business on [ ] 2023 as the date for determining the Company stockholders entitled to receive notice of and vote at the Special Meeting and any adjournment thereof. Only holders of record of the Company's common stock on that date are entitled to have their votes counted at the Special Meeting or any adjournment thereof.

**You are not being asked to vote on any business combination at this time. If the Charter Amendment Proposal and the Trust Amendment Proposal are implemented and you do not elect to redeem your Public Shares now, you will retain the right to vote on an Initial Business combination when it is submitted to stockholders and the right to redeem your Public Shares into a pro rata portion of the Trust Account in the event a business combination is approved and completed or the Company has not consummated a business combination by the Extended Termination Date.**

**Recommendation**

**The Company's board of directors recommends that you vote "FOR" the Charter Amendment Proposal.**

**PROPOSAL 2: THE TRUST AMENDMENT**

**The Trust Amendment**

The proposed Trust Amendment Proposal would amend our existing Investment Management Trust Agreement (the "**<u>Trust Agreement</u>**"), dated as of December 29, 2021, by and between the Company and Continental Stock Transfer & Trust Company (the "**<u>Trustee</u>**"), allowing the Company to extend the time to complete an Initial Business Combination (the "**<u>Business Combination Period</u>**") up to twelve (12) times on a month-to-month basis (each an "**<u>Extension</u>**"), each such extension for an additional one-month period, to April 3, 2024 (the "**<u>Trust Amendment</u>**"), by depositing into the Trust Account $0.0575 per non-redeeming unit (the "**<u>Extension Payment</u>"**) for each one-month Extension. A copy of the proposed Trust Amendment is attached to this proxy statement as <u>Annex B</u>. All stockholders are encouraged to read the proposed amendment in its entirety for a more complete description of its terms.

**Reasons for the Trust Amendment**

The purpose of the Trust Amendment Proposal is to give the Company the right to extend the Business Combination Period from April 3, 2023 up to twelve (12) times, each such Extension for an additional one-month period, until April 3, 2024 (i.e., 27 months from the consummation of the IPO), provided that the Extension Payment of $0.0575 per non-redeeming unit is deposited into the Trust Account prior to the date of the same applicable deadline.

The Company's current Charter and Trust Agreement provide that the Company has until April 3, 2023 to complete an Initial Business Combination without the payment of additional amounts into the Company's Trust Account.

Aetherium and its board of directors have determined that there will not be sufficient time before April 3, 2023 (its current termination date) to hold a Special Meeting to obtain the requisite stockholder approval of, and to consummate, the Initial Business Combination. However, management believes that it can close the Initial Business Combination before April 4, 2024. Under the circumstances, the Company's Sponsor or any of its affiliates (the "**<u>Contributors</u>**") will pay the extension amount for each proposed one-month extension on an as-needed basis, up to twelve (12) times for each one-month extension. After consultation with the Company's Contributors, Aetherium's management has reason to believe that, if the Charter Amendment Proposal and Trust Amendment Proposal are approved, the Contributors will make a $[718,750] Contribution into the Trust Account as the first Extension Payment, upon five days' advance notice prior to the applicable deadline, and extend the Combination Period for an additional one-month period each time until April 3, 2024, as needed. Each Contribution will be deposited in the Trust Account within two business days prior to the beginning of the additional extension period (or portion thereof), other than the first Contribution which will be made on the day of the approval of the Trust Amendment Proposal. The Contribution(s) will bear no interest. The Contributions will be lost by the Contributors if the Company is unable to consummate an Initial Business Combination except to the extent of any funds held outside of the Trust Account.

**If the Trust Amendment Is Not Approved**

If the Trust Amendment Proposal is not approved, and we do not consummate an Initial Business Combination by April 3, 2023, we will be required to dissolve and liquidate our Trust Account by returning the then remaining funds in such account to the public stockholders. If we are required to liquidate the Company, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our shares and warrants following such a transaction, and our warrants would expire worthless.

The Company's initial stockholders have waived their rights to participate in any liquidation distribution with respect to their insider shares. The Company will pay the costs of liquidation from its remaining assets outside of the Trust Account.

**If the Trust Amendment Proposal Is Approved**

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the amendment to the Trust Agreement in the form of <u>Annex B</u> hereto will be executed and the Trust Account will not be disbursed except in connection with our completion of the Initial Business Combination or in connection with our liquidation if we do not complete an Initial Business Combination by the applicable termination date. The Company will then continue to attempt to consummate an Initial Business Combination until the applicable termination date or until the Company's Board of Directors determines in its sole discretion that it will not be able to consummate an Initial Business Combination by the applicable termination date as described below and does not wish to seek an additional extension.

**Required Vote**

Subject to the foregoing, the affirmative vote of at least 65% of the Company's outstanding Common Stock, including the Founder Shares and Private Placement Shares, will be required to approve the Trust Amendment Proposal. Our Board will abandon and not implement the Trust Amendment Proposal unless our stockholders approve both the Charter Amendment Proposal and Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect. Notwithstanding stockholder approval of the Charter Amendment Proposal and Trust Amendment Proposal, our Board will retain the right to abandon and not implement the Charter Amendment and Trust Amendment at any time without any further action by our stockholders.

Our Board has fixed the close of business on [ ], 2023, as the date for determining the Company stockholders entitled to receive notice of and vote at the Special Meeting and any adjournment thereof. Only holders of record of the Company's Common Stock on that date are entitled to have their votes counted at the Special Meeting or any adjournment thereof.

**You are not being asked to vote on any business combination at this time. If the Trust Amendment is implemented and you do not elect to redeem your Public Shares now, you will retain the right to vote on an Initial Business Combination when it is submitted to stockholders and the right to redeem your Public Shares into a pro rata portion of the Trust Account in the event a business combination is approved and completed (as long as your election is made at least two (2) business days prior to the meeting at which the stockholders' vote is sought) or the Company has not consummated the business combination by the applicable termination date.**

**Recommendation**

**The Company's board of directors recommends that you vote "FOR" the Trust Amendment Proposal.**

**PROPOSAL 3: THE ADJOURNMENT PROPOSAL**

The Adjournment Proposal, if adopted, will request the chairman of the Special Meeting (who has agreed to act accordingly) to adjourn the Special Meeting to a later date or dates to permit further solicitation of proxies. The Adjournment Proposal will only be presented to our stockholders in the event, based on the tabulated votes, there are not sufficient votes at the time of the Special Meeting to approve the other proposal in this proxy statement. If the Adjournment Proposal is not approved by our stockholders, the chairman of the meeting will not exercise his ability to adjourn the Special Meeting to a later date (which he would otherwise have under the Chairman) in the event, based on the tabulated votes, there are not sufficient votes at the time of the Special Meeting to approve the other proposal.

**Required Vote**

If a majority of the shares present in person or by proxy and voting on the matter at the Special Meeting vote for the Adjournment Proposal, the chairman of the Special Meeting will exercise his or her power to adjourn the meeting as set out above.

**Recommendation**

**The Company's board of directors recommends that you vote "FOR" the Adjournment Proposal.**

**THE SPECIAL MEETING**

***Date, Time and Place.*** The Special Meeting will be held at 10:30 a.m., ET on [ ], 2023 virtually at <u>https://www.cstproxy.com</u>/[ ]

***Voting Power; Record Date.*** You will be entitled to vote or direct votes to be cast at the Special Meeting, if you owned Public Shares at the close of business on [ ], 2023, the Record Date for the Special Meeting. At the close of business on the Record Date, there were 14,903,500 shares of Common Stock outstanding each of which entitles its holder to cast one vote on the proposal. This includes 12,028,500 shares of Class A common stock, par value $0.0001 per share, and 2,875,000 shares of Class B common stock, par value $0.0001 per share.

***Proxies; Board Solicitation.*** Your proxy is being solicited by the Board on the proposals being presented to stockholders at the Special Meeting. No recommendation is being made as to whether you should elect to redeem your shares. Proxies may be solicited in person or by telephone. If you grant a proxy, you may still revoke your proxy and vote your shares in person at the Special Meeting. Advantage is assisting the Company in the proxy solicitation process for this Special Meeting. The Company will pay that firm approximately $[ ] in fees, plus disbursements for such services.

**Required Votes**

**Charter Amendment Proposal**. The Charter Amendment Proposal must be approved by the affirmative vote of sixty-five percent (65%) or more all then outstanding shares of the Common Stock..<br>**Trust Amendment Proposal**. The Trust Amendment Proposal must be approved by the affirmative vote of sixty-five percent (65%) or more of all then outstanding shares of the Class A Common Stock and Class B common stock voting together as a single class.<br>**Adjournment Proposal**. The Adjournment Proposal must be approved by the affirmative vote of the holders of a majority of the shares of Common Stock present or represented at the Special Meeting, by ballot, proxy or electronic ballot, and entitled to vote at the Meeting..<br>

Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, are not treated as votes cast and will have no effect on the proposals. As a result, if you abstain from voting on any of the proposals, your shares will be counted as present for purposes of establishing a quorum (if so present in accordance with the terms of our Charter), but the abstention will have no effect on the outcome of such proposal.

If you do not want to approve the Charter Amendment Proposal, the Trust Amendment Proposal or the Adjournment Proposal, you must vote against each proposal. The approval of the Charter Amendment Proposal and the Trust Amendment Proposal are essential to the implementation of our board's plan to extend the date by which we must consummate our Initial Business Combination. Therefore, our board will abandon and not implement the Charter Amendment Proposal unless our stockholders approve both the Charter Amendment Proposal and the Trust Amendment Proposal. This means that if one proposal is approved by the stockholders and the other proposal is not, neither proposal will take effect.

The Sponsor and all of the Company's directors, executive officers, initial stockholders and their affiliates are expected to vote any Common Stock owned by them in favor of the Charter Amendment Proposal and the Trust Amendment Proposal. On the Record Date, our initial stockholders beneficially owned and were entitled to vote 3,403,500 shares of Common Stock, which includes 2,875,000 shares of Class B common stock and 528,500 shares of Class A common stock from the private placement, representing approximately 22.8% of the Company's issued and outstanding shares of Common Stock.

**STOCKHOLDER PROPOSALS**

If the Charter Amendment Proposal and the Trust Amendment Proposal are approved, the Extension Amendment is effective, the Trust Amendment is executed and the Initial Business Combination is consummated, we expect that the post-Initial Business Combination Company will hold its 2023 annual meeting of stockholders in 2023. The date of such meeting and the date by which you may submit a proposal for inclusion in the proxy statement will be included in a Current Report on Form 8-K or a Quarterly Report on Form 10-Q.

If the Charter Amendment Proposal and the Trust Amendment Proposal are not approved and the Initial Business Combination is not consummated, there will be no further annual meetings of the Company.

**DELIVERY OF DOCUMENTS TO STOCKHOLDERS**

Pursuant to the rules of the SEC, the Company and its agents that deliver communications to its stockholders are permitted to deliver to two or more stockholders sharing the same address a single copy of the Company's proxy statement. Upon written or oral request, the Company will deliver a separate copy of the proxy statement to any stockholder at a shared address who wishes to receive separate copies of such documents in the future. Stockholders receiving multiple copies of such documents may likewise request that the Company deliver single copies of such documents in the future. stockholders may notify the Company of their requests by calling or writing the Company's proxy solicitation agent at:

Advantage Proxy, Inc.

P.O. Box 13581

Des Moines, WA 98198

Toll Free: (877) 870-8565

Collect: (206) 870-8565

Email: ksmith@advantageproxy.com

**OTHER INFORMATION**

The Company's 2021 Annual Report on Form 10-K, excluding exhibits, will be mailed without charge to any shareholder entitled to vote at the meeting, upon written request to Secretary, Aetherium Acquisition Corp. at [ ].

**OTHER MATTERS TO BE PRESENTED AT THE SPECIAL MEETING**

The Company did not have notice of any matter to be presented for action at the Special Meeting, except as discussed in this proxy statement. The persons authorized by the accompanying form of proxy will vote in their discretion as to any other matter that comes before the Special Meeting.

**WHERE YOU CAN FIND MORE INFORMATION**

The Company files annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains an Internet web site that contains reports, proxy and information statements, and other information regarding issuers, including us, that file electronically with the SEC. The public can obtain any documents that we file electronically with the SEC at www.sec.gov.

This Proxy Statement describes the material elements of relevant contracts, exhibits and other information attached as annexes to this Proxy Statement. Information and statements contained in this Proxy Statement are qualified in all respects by reference to the copy of the relevant contract or other document included as an annex to this document.

You may obtain additional copies of this Proxy Statement, at no cost, and you may ask any questions you may have about the Charter Amendment Proposal or the Adjournment Proposal by contacting us at the following address or telephone number:

**Aetherium Acquisition Corp.**

**79B Pemberwick Rd.**

**Greenwich, CT 06831**

**(650) 450-6836**

You may also obtain these documents at no cost by requesting them in writing or by telephone from the Company's proxy solicitation agent at the following address and telephone number:

Advantage Proxy, Inc.

P.O. Box 13581

Des Moines, WA 98198

Toll Free: 877-870-8565

Collect: 206-870-8565

Email: ksmith@advantageproxy.com

In order to receive timely delivery of the documents in advance of the Special Meeting, you must make your request for information no later than [ ], 2023.

**Annex A**

**Extension Amendment**

AMENDMENT TO THE

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF

AETHERIUM ACQUISITION CORP.

[●], 2023

Aetherium Acquisition Corp., a corporation organized and existing under the laws of the State of Delaware (the "**<u>Corporation</u>**"), DOES HEREBY CERTIFY AS FOLLOWS:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name of the Corporation is "Aetherium Acquisition Corp." The original certificate of incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on April 15, 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. An Amended and Restated Certificate of Incorporation was filed in the office of the Secretary of State of the State of Delaware on December 29, 2021 (the "**<u>Amended and Restated Certificate of Incorporation</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. This Amendment to the Amended and Restated Certificate of Incorporation was duly adopted by the Board of Directors of the Corporation and the stockholders of the Corporation in accordance with Section 242 of the General Corporation Law of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The text of Section 9.1(b) of Article IX is hereby amended and restated to read in full as follows:

"(b) Immediately after the Offering, a certain amount of the net offering proceeds received by the Corporation in the Offering (including the proceeds of any exercise of the underwriters' over-allotment option, if any) and certain other amounts specified in the Corporation's registration statement on Form S-1, as initially filed with the U.S. Securities and Exchange Commission (the "**<u>SEC</u>**") on July 21, 2021, as amended (the "**<u>Registration Statement</u>**"), shall be deposited in a trust account (the "**<u>Trust Account</u>**"), established for the benefit of the Public Stockholders (as defined below) pursuant to a trust agreement described in the Registration Statement (the "**<u>Trust Agreement</u>**"). Except for the withdrawal of interest to pay taxes (less up to $100,000 interest to pay dissolution expenses), none of the funds held in the Trust Account (including the interest earned on the funds held in the Trust Account) will be released from the Trust Account until the earliest to occur of (i) the completion of the initial Business Combination, (ii) the redemption of 100% of the Offering Shares (as defined below) if the Corporation is unable to complete its initial Business Combination within fifteen (15) months from the closing of the Offering, subject to twelve one-month extensions from the closing of the Offering, provided that, pursuant to the terms hereof and the Corporation's amended Trust Agreement, the Corporation deposits into the Trust Account an additional $0.0575 per non-redeeming unit, for each month extended, in the Corporation's sole discretion whether to exercise one or more extensions, (or, if the Office of the Delaware Division of Corporations shall not be open for business (including filing of corporate documents) on such date the next date upon which the Office of the Delaware Division of Corporations shall be open) (the "**<u>Deadline Date</u>**") and (iii) the redemption of shares in connection with a stockholder vote to amend any provisions of this Amended and Restated Certificate (a) to modify the substance or timing of the Corporation's obligation to provide for the redemption of the Offering Shares in connection with an initial Business Combination or to redeem 100% of such shares if the Corporation has not consummated an initial Business Combination by the Deadline Date or (b) with respect to any other provision relating to stockholders' rights or pre-initial Business Combination activity (as described in Section 9.7). Holders of shares of Common Stock included as part of the units sold in the Offering (the "**<u>Offering Shares</u>**") (whether such Offering Shares were purchased in the Offering or in the secondary market following the Offering and whether or not such holders are the Sponsor or officers or directors of the Corporation, or affiliates of any of the foregoing) are referred to herein as "**Public Stockholders**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This Amendment was duly adopted in accordance with the provisions of Section 242 of the DGCL by written consent of stockholders holding the requisite number of shares required by statute given in accordance with and pursuant to Section 228 of the DGCL.

IN WITNESS WHEREOF, Aetherium Acquisition Corp. has caused this Amendment to the Certificate to be duly executed in its name and on its behalf by an authorized officer as of the date first set above.

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| | |
|:---|:---|
| Aetherium Acquisition Corp. | Aetherium Acquisition Corp. |
| By: |  |
| Name: | Jonathan Chan |
| Title: | Chief Executive Officer |

---

**Annex B**

PROPOSED AMENDMENT

TO THE

INVESTMENT MANAGEMENT TRUST AGREEMENT

This Amendment No. 1 (this "**<u>Amendment</u>**"), dated as of ___, 2023, to the Investment Management Trust Agreement (as defined below) is made by and between Aetherium Acquisition Corp. (the "**<u>Company</u>**") and Continental Stock Transfer & Trust Company, as trustee ("**<u>Trustee</u>**"). All terms used but not defined herein shall have the meanings assigned to them in the Trust Agreement.

WHEREAS, the Company and the Trustee entered into an Investment Management Trust Agreement, dated December 29, 2021 (the "**<u>Trust Agreement</u>**");

**WHEREAS**, Section 1(i) of the Trust Agreement sets forth the terms that govern the liquidation of the Trust Account under the circumstances described therein; and

**WHEREAS**, at a Special Meeting of the Company held on [ ], 2023, the Company's stockholders approved (i) a proposal to amend the Company's amended and restated certificate of incorporation giving the Company the right to extend the date by which it must complete a business combination from April 3, 2023 to April 3, 2024 (or such earlier date after April 3, 2023 as determined by the Company's board of directors) (the "**<u>Extension Amendment</u>**") and thus extend the date on which the Trustee must liquidate the Trust Account if the Company has not completed its initial business combination from April 3, 2023 to April 3, 2024 (or such earlier date after April 3, 2023 as determined by the Company's board of directors);

**NOW THEREFORE, IT IS AGREED**:

&nbsp;&nbsp;&nbsp;&nbsp;1. Section
 1(i) of the Trust Agreement is hereby amended and restated in its entirety as follows:

"(i) Commence liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the Company ("**<u>Termination Letter</u>**") in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, Secretary or Chairman of the board of directors of the Company (the "**<u>Board</u>**") or other authorized officer of the Company, and, in the case of Exhibit A, acknowledged and agreed to by the Representative, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously released to the Company to pay its taxes, only as directed in the Termination Letter and the other documents referred to therein, or (y) upon April 3, 2024 (or such earlier date after April 3, 2023 as determined by the Company's board of directors), if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest not previously released to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses) shall be distributed to the Public Stockholders of record as of such date;"

2. Section 1 of the Trust Agreement is hereby amended by the addition of new section 1(j) as follows:

"(j) Upon receipt of an extension letter ("**<u>Extension Letter</u>**") substantially similar to Exhibit E hereto at least five business days prior to (A) April 3, 2023, and (B) at the Company's election, each successive monthly period ending on March 3, 2024 (each, an "**<u>Applicable Deadline</u>**"), signed on behalf of the Company by an executive officer, and receipt of the dollar amount specified in the Extension Letter prior to the Applicable Deadline, to follow the instructions set forth in the Extension Letter."

3. The Trust Agreement is hereby amended by the addition of new Exhibit E of the Trust Agreement as follows:

**"Exhibit E**

**[Letterhead of Company]**

**[Insert date]**

Continental Stock Transfer & Trust Company

1 State Street, 30<sup>th</sup> Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

Re: <u>Trust Account — Extension Letter</u>

Gentlemen:

Pursuant to paragraph 1(j) of the Investment Management Trust Agreement between Aetherium Acquisition Corp. ("**<u>Company</u>**") and Continental Stock Transfer & Trust Company ("**<u>Trustee</u>**"), dated December 29, 2021 ("**<u>Trust Agreement</u>**"), this is to advise you that the Company is extending the time available in order to consummate a Business Combination for an additional one (1) month, from ______________ to ______________ (the "**<u>Extension</u>**"). Capitalized words used herein and not otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

This Extension Letter shall serve as the notice required with respect to an Extension prior to the Applicable Deadline.

In accordance with the terms of the Trust Agreement, we hereby authorize you to deposit $[ ]<sup>1</sup>, which will be wired to you, into the Trust Account investments upon receipt.

By: 

 [●],

cc: EF Hutton, division of Benchmark Investments, LLC"

4. All other provisions of the Trust Agreement shall remain unaffected by the terms hereof.

5. This Amendment may be signed in any number of counterparts, each of which shall be an original and all of which shall be deemed to be one and the same instrument, with the same effect as if the signatures thereto and hereto were upon the same instrument. A facsimile signature or electronic signature shall be deemed to be an original signature for purposes of this Amendment.

6. This Amendment is intended to be in full compliance with the requirements for an Amendment to the Trust Agreement as required by Section 6(d) of the Trust Agreement, and every defect in fulfilling such requirements for an effective amendment to the Trust Agreement is hereby ratified, intentionally waived and relinquished by all parties hereto.

7. This Amendment shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.

*[signature page follows]*

<sup>1</sup> $0.0575 per non-redeeming unit

Annex B-1

IN WITNESS WHEREOF, the parties have duly executed this Amendment to the Investment Management Trust Agreement as of the date first written above.

---

| | |
|:---|:---|
| CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee | CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee |
| By: |  |
| Name: | Francis Wolf |
| Title: | Vice President |
| AETHERIUM ACQUISITION CORP. | AETHERIUM ACQUISITION CORP. |
| By: |  |
| Name: | Jonathan Chan |
| Title: | Chief Executive Officer |

---

Annex B-2

**<u>PROXY CARD</u>**

**AETHERIUM ACQUISITION CORP.**

**PROXY FOR THE SPECIAL MEETING OF STOCKHOLDERS**

**THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS**

The undersigned hereby appoints [Jonathan Chan] as proxy of the undersigned to attend the Special Meeting of Stockholders (the "**<u>Special Meeting</u>**") of Aetherium Acquisition Corp. (the "**<u>Company</u>**"), to be held via virtual meeting as described in the Proxy Statement on [ ], 2023 at 10:00 a.m. Eastern time, and any postponement or adjournment thereof, and to vote as if the undersigned were then and there personally present on all matters set forth in the Notice of Special Meeting, dated [ ], 2023 (the "**<u>Notice</u>**"), a copy of which has been received by the undersigned, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;**1.** **PROPOSAL 1. EXTENSION AMENDMENT — APPROVAL OF AN AMENDMENT TO THE COMPANY'S AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO EXTEND THE DATE BY WHICH THE COMPANY MUST CONSUMMATE A BUSINESS COMBINATION FROM APRIL 3, 2023, TO APRIL 3, 2024 AS SPECIFICALLY PROVIDED IN THE PROXY, OR SUCH EARLIER DATE AS DETERMINED BY THE BOARD OF DIRECTORS, WHICH WE REFER TO AS THE "EXTENSION AMENDMENT PROPOSAL.".** 

**For** ☐ **Against** ☐ **Abstain** ☐

&nbsp;&nbsp;&nbsp;&nbsp;**2.** **PROPOSAL 2. TRUST AMENDMENT — APPROVAL OF AN AMENDMENT TO THE COMPANY'S INVESTMENT MANAGEMENT TRUST AGREEMENT, DATED AS OF DECEMBER 29, 2021 (THE "TRUST AGREEMENT"), BY AND BETWEEN THE COMPANY AND CONTINENTAL STOCK TRANSFER & TRUST COMPANY TO PROVIDE THAT THE TIME FOR THE COMPANY TO COMPLETE ITS INITIAL BUSINESS COMBINATION (THE "BUSINESS COMBINATION PERIOD") UNDER THE TRUST AGREEMENT SHALL BE EXTENDED FROM APRIL 3, 2023 TO APRIL 3, 2024, OR SUCH EARLIER DATE AS DETERMINED BY THE BOARD OF DIRECTORS AND TO THE EXTENT THE COMPANY'S AMENDED AND RESTATED CERTIFICATE OF INCORPORATION IS AMENDED TO EXTEND THE BUSINESS COMBINATION PERIOD PROVIDED THAT THE COMPANY DEPOSITS INTO THE TRUST ACCOUNT $0.0575 PER NON-REDEEMING UNIT FOR EACH EXTENSION.** 

**For** ☐ **Against** ☐ **Abstain** ☐

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **PROPOSAL 3. ADJOURNMENT — APPROVAL TO DIRECT THE CHAIRMAN OF THE SPECIAL MEETING TO ADJOURN THE SPECIAL MEETING TO A LATER DATE OR DATES, IF NECESSARY, TO PERMIT FURTHER SOLICITATION AND VOTE OF PROXIES IF, BASED UPON THE TABULATED VOTE AT THE TIME OF THE MEETING, THERE ARE NOT SUFFICIENT VOTES TO APPROVE PROPOSAL 1 AND PROPOSAL 2.** 

**For** ☐ **Against** ☐ **Abstain** ☐

**NOTE: IN HIS DISCRETION, THE PROXY HOLDER IS AUTHORIZED TO VOTE UPON SUCH OTHER MATTER OR MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL MEETING AND ANY ADJOURNMENT(S) OR POSTPONEMENT(S) THEREOF.**

THIS PROXY WILL BE VOTED IN ACCORDANCE WITH THE SPECIFIC INDICATION ABOVE. IN THE ABSENCE OF SUCH INDICATION, THIS PROXY WILL BE VOTED "FOR" EACH PROPOSAL AND, AT THE DISCRETION OF THE PROXY HOLDER, ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL MEETING OR ANY POSTPONEMENT OR ADJOURNMENT THEREOF.

---

| | |
|:---|:---|
| Dated: ______________________________ |  |
|  | Signature of Stockholder |
|  | PLEASE PRINT NAME |
|  | Certificate Number(s) |
|  | Total Number of Shares Owned |

---

Sign exactly as your name(s) appears on your stock certificate(s). A corporation is requested to sign its name by its President or other authorized officer, with the office held designated. Executors, administrators, trustees, etc., are requested to so indicate when signing. If a stock certificate is registered in two names or held as joint tenants or as community property, both interested persons should sign.

**<u>PLEASE COMPLETE THE FOLLOWING</u>:**

I plan to attend the Special Meeting (Circle one): Yes No

Number of attendees:  

**<u>PLEASE NOTE</u>:**

STOCKHOLDER SHOULD SIGN THE PROXY PROMPTLY AND RETURN IT IN THE ENCLOSED ENVELOPE AS SOON AS POSSIBLE TO ENSURE THAT IT IS RECEIVED BEFORE THE SPECIAL MEETING. PLEASE INDICATE ANY ADDRESS OR TELEPHONE NUMBER CHANGES IN THE SPACE BELOW.