Archimedes Tech SPAC Partners II Co. Ordinary Shares

Forge Nano has broken ground on a major expansion of its lithium-ion battery manufacturing facility in Morrisville, North Carolina, backed by up to $100 million in non-dilutive funding from the U.S. Department of Energy. The expansion will grow the existing 100,000-square-foot operation into a campus approaching 315,000 square feet, create more than 250 jobs, and establish approximately 3 gigawatt-hours of annual battery cell manufacturing capacity at full production, with production expected to begin in 2028. The facility is designed to address U.S. dependence on foreign-controlled battery supply chains for defense and aerospace applications, and its timing aligns with new National Defense Authorization Act battery sourcing requirements taking effect in 2028. Samsung SDI is supporting the project through operational expertise, a conditional procurement agreement for cells beginning in 2028, and a $20 million strategic investment made in July, including $10 million in Series D financing and $10 million in PIPE financing tied to Forge Nano's planned public listing via merger with Archimedes Tech SPAC Partners II Co.

Forge Nano has secured an additional $23 million in PIPE financing, bringing total PIPE commitments to $123 million as it prepares for a NASDAQ listing via a merger with Archimedes Tech SPAC Partners II. All of the new PIPE commitments were priced at $10.00 per share. The financing includes a $20 million strategic investment from Samsung SDI, of which $10 million is part of the PIPE and $10 million is part of Forge Nano's Series D round. Forge Nano has also closed its Series D at $97 million, completing its pre-IPO capital formation. Assuming no shareholder redemptions, the public listing would deliver over $367 million in pro forma cash, combining approximately $244 million from the Archimedes II trust with the $123 million in PIPE commitments.