Mon, Mar 31, 8:40 PM (26 days ago)
Archimedes Tech SPAC Partners II Co. (ATIIU) is a blank check company incorporated in the Cayman Islands, focusing on acquiring businesses in the technology sector, particularly artificial intelligence, cloud services, and automotive technology. The company completed its initial public offering (IPO) on February 12, 2025, raising $230 million from 23 million units, each consisting of one ordinary share and one-half of one redeemable warrant. Additionally, a private placement of 840,000 units raised $8.4 million. The total proceeds of $231.15 million were placed in a trust account, with Odyssey Transfer and Trust Company as trustee. The company has up to 21 months from the IPO to complete an initial business combination. If unsuccessful, it will redeem public shares and liquidate. The company has no operations or revenue, with a net loss of $78,700 for the period from June 7, 2024, to December 31, 2024. The financial condition is supported by the trust account, with no long-term debt or capital lease obligations. The company faces risks from market volatility, geopolitical instability, and competition from other SPACs and investors. The management team has experience in technology and finance, with a strategic focus on leveraging their network and expertise to identify and acquire suitable targets. The company's market position is subject to intense competition, and its success depends on completing a business combination within the specified time frame.