Quarterly ResultMay 14, 2026, 04:38 PM
Archimedes Tech SPAC Partners III Co. Reports Q1 Net Income $1.57M
AI Summary
Archimedes Tech SPAC Partners III Co. filed its first quarterly report since its Initial Public Offering (IPO) on January 26, 2026. For the three months ended March 31, 2026, the company reported a net income of $1.57 million, primarily due to interest earned on its Trust Account. As of March 31, 2026, the Trust Account held $277.78 million, and the company continues to seek a business combination in the technology industry.
Key Highlights
- Net income for the three months ended March 31, 2026, was $1,574,054.
- Cash balance as of March 31, 2026, was $1,109,625.
- Demand deposit held in Trust Account was $277,775,824 as of March 31, 2026.
- Total assets were $279,174,978 as of March 31, 2026.
- Total liabilities were $9,747,652 as of March 31, 2026.
- Gross proceeds from the Initial Public Offering were $276,000,000.
- Gross proceeds from the Private Placement were $7,620,000.
- Basic and diluted net income per share was $0.06.