Company: ATIIU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025722
Chunk: 80

Company: Archimedes Tech SPAC Partners II Co.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 a private placement to the sponsor and BTIG, generating gross proceeds of $8,400,000.

Following closing of the Initial Public Offering and the sale of the Private Placement Units, a total of $231,150,000 was placed in the trust account. We incurred $13,175,520 in transaction costs, consisting of $4,600,000 of cash underwriting fee, $8,050,000 of deferred underwriting fee and $525,520 of other offering costs.

For the six months ended June 30, 2025, cash used in operating activities was $349,395. Net income of $3,517,801 was reduced by the interest earned on cash held in trust account of $3,794,821, and increased by the general and administrative expenses paid through promissory note – related party of $51,600 and general and administrative expenses paid by related parties of $14,086. Changes in operating assets and liabilities used $138,061 of cash for operating activities.  For the period from June 7, 2024 (inception) through June 30, 2024, cash used in operating activities was $0. Net loss of $42,700 was increased by the general and administrative expenses paid by Sponsor in exchange for issuance of Founder Shares of $3,880, and increased by the general and administrative expenses paid through promissory note – related party of $15,420. Changes in operating assets and liabilities provided $23,400 of cash for operating activities.

As of June 30, 2025, we had cash held in the trust account of $234,944,821 to be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations and/or held as cash or cash items (including in demand deposit accounts). We may withdraw interest from the trust account to pay taxes, if any. We intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust account (less income taxes payable), to complete our initial business combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and