Archimedes Tech SPAC Partners II Co. Reports $1.7 Million Net Income in Q1 2026

Archimedes Tech SPAC Partners II Co. reported a net income of $1.7 million for the first quarter of 2026, a significant increase from the $1.2 million recorded in the same period of 2025. The company attributed this growth primarily to an increase in interest income from its cash holdings, which rose to $2.1 million from $1.3 million year-over-year. However, general and administrative expenses also increased sharply, totaling $448,673 compared to $157,451 in the prior year, reflecting the costs associated with being a public company and preparing for its initial business combination.

As of March 31, 2026, Archimedes Tech held total assets of approximately $243.2 million, up from $241.3 million at the end of 2025. The increase was largely driven by the cash held in its Trust Account, which amounted to $242 million, compared to $239.9 million at the end of the previous year. The company’s liabilities also rose, with total liabilities reaching $8.4 million, up from $8.2 million, primarily due to increased accrued expenses.

In terms of operational developments, Archimedes Tech has not yet commenced any business operations but is actively pursuing a merger agreement. On April 20, 2026, the company entered into a merger agreement with Forge Nano, Inc., which will involve a re-domiciliation to Delaware and a merger that will see Forge Nano become a wholly-owned subsidiary. This strategic move is part of the company’s plan to focus on the technology sector, particularly in artificial intelligence and cloud services.

The company’s employee count remained stable, with 29,590,000 ordinary shares outstanding as of May 14, 2026. Archimedes Tech is classified as a smaller reporting company and an emerging growth company, which allows it to take advantage of certain regulatory exemptions. The company has indicated that it plans to use its cash reserves primarily for identifying and evaluating potential target businesses, as well as for transaction costs associated with its initial business combination.

Looking ahead, Archimedes Tech has until November 12, 2026, to complete its initial business combination, or it will be required to liquidate. The management has expressed confidence in its ability to identify a suitable target and complete the merger, although it acknowledges the risks associated with market conditions and the competitive landscape in the technology sector. The company’s future performance will largely depend on the successful execution of its merger strategy and the subsequent operational performance of the combined entity.