Company: ATIIU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025722
Chunk: 28

Company: Archimedes Tech SPAC Partners II Co.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 transactions) for any 20 trading days within any 30-trading day period after the initial Business Combination or (2) if the Company completes a transaction after the initial Business Combination which results in all of the Company’s shareholders having the right to exchange their shares for cash, securities or other property.

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   ARCHIMEDES TECH SPAC PARTNERS II CO. NOTES TO CONDENSED FINANCIAL STATEMENTS  JUNE 30, 2025 (UNAUDITED)

   Promissory Note — Related Party
    
   On  June 7, 2024, the Sponsor issued an unsecured promissory note to the Company (as amended, the “Promissory Note”), pursuant to which the Company  may borrow up to an aggregate principal amount of $290,000. The Promissory Note was non-interest bearing and payable on the earlier of (i)  March 31, 2025 or (ii) the consummation of the Initial Public Offering or (iii) the date on which the Company determines to not proceed with the Initial Public Offering. As of  June 30, 2025 and  December 31, 2024, the Company had $0 and $192,033 outstanding under the Promissory Note, respectively. Simultaneously with the closing of the Initial Public Offering, the Company repaid the outstanding borrowings under the Promissory Note. Borrowings under the note are no longer available.
    
   Administrative Support Agreement
    
   Commencing on the effective date,  February 10, 2025, the Company agreed to reimburse the Sponsor in an amount equal to $10,000 per month for office space, administrative and support services. Upon completion of the initial Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. For the three and six months ended  June 30, 2025, the Company incurred $30,000 and $46,786 in fees for these services, respectively, $20,000 of which remains unpaid and included in accrued expenses line in the accompanying condensed balance sheets. For the period from  June 7, 2024 (inception) through  June 30, 2024, the Company did not incur any fees for these services.
    
   Working Capital Loans
    
   In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of