Company: ATIIU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001437749-25-010221
Chunk: 244

Company: Archimedes Tech SPAC Partners II Co.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 14
Chunk 244
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 the right to exchange their shares for cash, securities or other property.
    
   Administrative Support Agreement
    
   Commencing on the effective date,  February 10, 2025, the Company agreed to reimburse the Sponsor or an affiliate thereof 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. As of  December 31, 2024, no expense was incurred.
    
   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  December 31, 2024, there was $192,033 in borrowings outstanding under the Promissory Note. On  February 12, 2025, the outstanding balance under the Promissory Note was repaid simultaneously with the closing of the Initial Public Offering.

        F-
       13

   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 the Company’s officers and directors  may, but are not obligated to, loan the Company funds as  may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company  may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation