Company: ATIIU
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025722
Chunk: 79

Company: Archimedes Tech SPAC Partners II Co.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 the Exchange Act.

Results of Operations

We have neither engaged in any operations nor generated any revenues to date. Our only activities from inception through June 30, 2025 were organizational activities, those necessary to prepare for the Initial Public Offering, described below, and identifying a target company for an initial business combination. We do not expect to generate any operating revenues until after the completion of our initial business combination. We generate non-operating income in the form of interest income on marketable securities held in the trust account. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended June 30, 2025, we had a net income of $2,358,579, which consists of interest income on cash held in the trust account of $2,488,937, offset by general and administrative expenses of $130,358.  For the six months ended June 30, 2025, we had a net income of $3,517,801, which consists of interest income on cash held in the trust account of $3,794,821, offset by general and administrative expenses of $277,020.  For the period from June 7, 2024 (inception) through June 30, 2024, we had a net loss of $42,700, which consists of general and administrative expenses.

Liquidity and Capital Resources

Until the consummation of the Initial Public Offering, our only source of liquidity was an initial purchase of ordinary shares by the sponsor and loans from the sponsor, which were repaid simultaneously with the closing of the Initial Public Offering.

On February 12, 2025, we consummated the Initial Public Offering of 23,000,000 Units, which included the full exercise by the underwriters of their over-allotment option in the amount of 3,000,000 Units, at $10.00 per Unit, generating gross proceeds of $230,000,000. Each Unit consists of one ordinary share and one-half of one Public Warrant, each whole Public Warrant entitling the holder thereof to purchase one ordinary share at an exercise price of $11.50 per share, subject to adjustment. Simultaneously with the closing of the Initial Public Offering, we consummated the sale of an aggregate of 840,000 Private Placement Units at a price of $10.00 per Private Placement Unit in