Company: ATIIU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001437749-25-016848
Chunk: 18

Company: Archimedes Tech SPAC Partners II Co.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 18
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 2025, the Company had cash of $1,863,173. The Company intends to use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination.

       7

   ARCHIMEDES TECH SPAC PARTNERS II CO. NOTES TO CONDENSED FINANCIAL STATEMENTS  MARCH 31, 2025 (UNAUDITED)
    
   In order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of the Company’s officers and directors or their affiliates  may, but are not obligated to, loan the Company funds as  may be required. If the Company completes a Business Combination, the Company would repay such loaned amounts. In the event that a Business Combination does not close, the Company  may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment. Up to $1,500,000 of such loans  may be convertible into units, at a price of $10.00 per unit, at the option of the lender. The units would be identical to the Private Placement Units.
    
   The Company does not believe that it will need to raise additional funds in order to meet the expenditures required for operating the business. However, if the estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so, the Company  may have insufficient funds available to operate the business prior to the Company’s Business Combination. Moreover, the Company  may need to obtain additional financing either to complete the Company’s Business Combination or because the Company becomes obligated to redeem a significant number of the Public Shares upon consummation of the Company’s Business Combination, in which case the Company  may issue additional securities or incur debt in connection with such Business Combination.

   NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
    
   Basis of Presentation
    
   The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q