Archimedes Tech SPAC Partners II Co
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Archimedes Tech SPAC Partners II Co AI Insights
Informational only. Not investment advice.Snapshot
- Zero revenue SPAC with 231M equity held in trust, trading at 1.33x book value (7.81/share). Net income of 2.4M TTM is entirely interest income on trust assets.[Book Value Per Share]
- Operating burn of 160K TTM with 1.4M cash outside trust. At current burn, ~9 months runway before needing trust access or extension.[Cash and Equivalents]
- P/B of 1.33x implies 33% premium to liquidation value - market pricing in deal optionality worth ~76M above NAV.[P/B Ratio]
Watch Triggers
- Total Revenue: Any revenue recognition — Signals business combination completed - fundamental transformation of entity
- Cash and Equivalents: Falls below 500K — Operating runway exhaustion forces timeline pressure on deal or extension
- P/B Ratio: Approaches 1.0x — Market losing confidence in deal - arbitrage to NAV floor emerging
Bull Case
231M trust at 0% debt provides clean acquisition currency. Successful deal could unlock value well above current 1.33x book premium if target quality justifies valuation.
Downside protected at ~7.81/share liquidation value. Current 33% premium is modest optionality cost for deal upside with defined floor.
Bear Case
33% premium to NAV is pure deal speculation. No announced target means paying for optionality with zero visibility on outcome or timeline.
SPAC track record poor post-2021. Most combinations underperform; redemption risk could leave shell with minimal capital for viable deal.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
SPAC faces binary outcome: successful business combination or liquidation at ~7.81/share within 12-24 months
- SPAC structure mandates deal or liquidation timeline
- 231M trust provides acquisition currency
- Zero debt enables clean deal structure
Valuation Context
Caveats
ATII Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$333.48M | — | ||
$332.4M | — | ||
38 | — | ||
$0 | — | ||
$0.30 | — | ||
0% | — | ||
0% | — | ||
$-693,731 | — | ||
3.70% | — | ||
Beta 5Y (Monthly) | unknown | — |
ATII Dividend History
ATII Stock Splits
ATII SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/14/26 | 03/31/26 | 10-Q | |
03/04/26 | 12/31/25 | 10-K | |
11/07/25 | 09/30/25 | 10-Q | |
08/08/25 | 06/30/25 | 10-Q | |
05/14/25 | 03/31/25 | 10-Q | |
12/31/24 | 12/31/24 | 10-K | |
02/11/25 | 09/30/24 | 424B4 | |
06/30/24 | 06/30/24 | S-1 | |
02/11/25 | 05/31/24 | 424B4 |