MergerAug 13, 2026, 04:47 PM
ATII to Merge with Forge Nano; Reports $135M Net Loss in Q2 2026
AI Summary
Archimedes Tech SPAC Partners II Co. (ATII) announced a merger agreement with Forge Nano, Inc., valuing Forge Nano at $1.2 billion, including a $100 million PIPE subscription. Concurrently, ATII reported a significant net loss of $135.05 million for the six months ended June 30, 2026, primarily due to PIPE subscription expenses and derivative liability. The company also disclosed a working capital deficit of $138.00 million and a going concern warning, citing liquidity issues and the November 12, 2026, deadline for completing a business combination.
Key Highlights
- Entered merger agreement with Forge Nano, Inc. on April 20, 2026.
- Forge Nano valued at $1.2 billion; up to 90 million earn-out shares.
- Secured $100 million PIPE subscription for Pubco common stock and warrants.
- Reported net loss of $135.05 million for six months ended June 30, 2026.
- General and administrative expenses increased to $1.43 million for six months.
- Cash balance decreased to $414,970 as of June 30, 2026.
- Total liabilities surged to $146.57 million due to PIPE derivative liability.
- Disclosed substantial doubt about ability to continue as a going concern.
Price Impact
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