Archimedes Tech SPAC Partners II Co. Announces Pricing of $200 Million Initial Public Offering

Rhea-AI Summary

Archimedes Tech SPAC Partners II Co. has announced the pricing of its $200 million initial public offering, consisting of 20,000,000 units at $10.00 per unit. Each unit includes one ordinary share and one-half redeemable warrant, with whole warrants exercisable at $11.50 per share.

The units will trade on Nasdaq under 'ATIIU' starting February 11, 2025, while the ordinary shares and warrants will later trade separately under 'ATII' and 'ATIIW' respectively. BTIG, is the sole book-running manager and has a 45-day option to purchase up to 3,000,000 additional units for over-allotments. The offering is expected to close on February 12, 2025.

Positive

• Successful pricing of $200 million IPO
• Listing on major exchange (Nasdaq)
• 45-day over-allotment option for additional $30 million

Negative

• Warrant dilution potential if exercised at $11.50
• No specific acquisition target identified yet
• SPAC structure carries inherent investment risks

Insights

SPAC Investment Analyst

This $200 million SPAC IPO represents a significant development in the current SPAC market. The offering's structure is noteworthy, with a 1/2 warrant per unit configuration that has become increasingly common as it provides less dilution compared to the traditional 1:1 warrant ratio. The $11.50 strike price for warrants aligns with market standards.

The leadership team brings substantial credentials - Eric Ball's background as former Oracle treasurer and Long Long's experience in technology investments suggests a focus on enterprise software or fintech sectors for potential targets. The size of the trust account positions this SPAC in the mid-tier range, making it well-suited for targeting companies valued between $800 million and $1.5 billion.

BTIG's role as sole book-runner, rather than a multi-bank syndicate, indicates a more focused distribution strategy. The 45-day over-allotment option for 15% additional units ($30 million) provides flexibility to meet excess demand while maintaining price stability in early trading.

The Cayman Islands incorporation structure offers tax advantages and greater flexibility for international business combinations, suggesting potential cross-border transaction opportunities. This SPAC enters the market at a time when investors are increasingly selective, demanding stronger fundamentals and clearer paths to value creation from target companies.

CLAYMONT, Del., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Archimedes Tech SPAC Partners II Co. (the “Company”), a newly organized special purpose acquisition company formed as a Cayman Islands exempted company and led by Chairman Eric R. Ball and CEO Long Long, today announced the pricing of its initial public offering of 20,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one ordinary share and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one ordinary share at $11.50 per share. The units are expected to trade on The Nasdaq Global Market (“Nasdaq”) under the ticker symbol “ATIIU” beginning February 11, 2025. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the ordinary shares and the warrants are expected to be traded on Nasdaq under the symbols “ATII” and “ATIIW,” respectively.

BTIG, LLC is acting as sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on February 12, 2025, subject to customary closing conditions.

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 10, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com, or by accessing the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Archimedes Tech SPAC Partners II Co.

Archimedes Tech SPAC Partners II Co. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses. While the Company may pursue a business combination target in any business, industry or geographical location, the Company intends to focus its search for businesses in the technology industry, and its focus will be on the artificial intelligence, cloud services and automotive technology sectors.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering (“IPO”) and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts:

Long Long
Chief Executive Officer
Archimedes Tech SPAC Partners II Co.
(725) 312-2430

FAQ

What is the IPO price for Archimedes Tech SPAC Partners II (ATII) units?

Archimedes Tech SPAC Partners II Co. priced its IPO units at $10.00 per unit, with each unit consisting of one ordinary share and one-half of one redeemable warrant.

When will ATII shares begin trading on Nasdaq?

The units will begin trading on Nasdaq under symbol 'ATIIU' on February 11, 2025. The ordinary shares and warrants will later trade separately under 'ATII' and 'ATIIW'.

How much capital is Archimedes Tech SPAC Partners II (ATII) raising in its IPO?

The company is raising $200 million through its IPO of 20,000,000 units, with potential for an additional $30 million through the over-allotment option.

What is the exercise price of ATII warrants?

Each whole warrant entitles the holder to purchase one ordinary share at $11.50 per share.

When is the expected closing date for ATII's IPO?

The IPO is expected to close on February 12, 2025, subject to customary closing conditions.