Forge Nano Announces Merger Completion, Expects Nasdaq Trading to Begin October 22

Key Facts

Forge Nano announced the completion of its merger with Archimedes Tech SPAC Partners II and said it expected shares of the combined company to begin trading on Nasdaq under the ticker NANO on October 22, 2026, according to the company's announcement published via GlobeNewswire. The move is part of the company's push to accelerate the commercialization of semiconductor equipment and expand battery materials manufacturing in the United States. Archimedes II shareholders met to vote on the deal on October 16, 2026, according to a filing with the U.S. Securities and Exchange Commission. The merger proposal received 15,416,866 votes in favor and 1,113,414 against. There were no abstentions, while the transaction documents provided for renaming the holding company Forge Nano Holdings.

According to the merger agreement announcement, the deal valued Forge Nano's equity at $1.2 billion before financing and completion of the merger. The agreement also included potential additional shareholder earnouts worth up to $900 million in shares of the combined company. The agreement made those earnouts contingent on meeting share trading price and revenue criteria. A document filed with the Securities and Exchange Commission had outlined the listing plan conditionally, saying: "If the transaction is completed, the combined company expects to be listed on Nasdaq under the ticker NANO." Following shareholder approval, an Investing report described the closing as expected within days, subject to the satisfaction or waiver of the remaining conditions.

The completion announcement was preceded by financing arrangements Forge Nano disclosed in a July update, when it raised total private investment in public equity commitments to $123 million. That followed an additional $23 million in commitments secured as part of the financing, according to the company's statement on preparations to go public. In the same update, the company announced the closing of its $97 million Series D funding round. On the acquisition company's side, Archimedes II had completed its $230 million initial public offering in February 2025. Forge Nano said the capital expected at closing would support faster commercialization of semiconductor equipment and the expansion of domestic lithium-ion battery materials manufacturing.

The financing arrangements included a $20 million investment commitment from Samsung SDI, according to Forge Nano's announcement ahead of the listing. Of that commitment, $10 million was allocated to the private investment in public equity financing. The company cited Samsung's participation in the same financing update that covered the closing of the Series D round and preparations to go public. Forge Nano manufactures nanocoating equipment in the United States using atomic layer deposition technology. Its industrial operations also include lithium-ion battery production, according to the merger agreement announcement, with the domestic expansion plan covering materials manufacturing for that business alongside plans to commercialize equipment used in the semiconductor sector.

In its equipment business, Forge Nano announced that a commercial photonics technology company had selected its semiconductor wafer manufacturing platform, known as TEPHRA. In the order announcement, it said the selection was intended to support commercial manufacturing of advanced integrated photonic devices. It described the customer as a leading commercial photonics technology company and linked its selection to the equipment Forge Nano supplies for chip manufacturing. The platform is part of the company's semiconductor equipment business, whose commercialization it said in the financing update it intended to accelerate using the capital expected at closing. Together with battery production in the United States, this business forms the industrial scope Forge Nano outlined in announcing its merger agreement with Archimedes II ahead of the listing.

In battery manufacturing, the Morrisville plant expansion targets annual capacity of about 3 gigawatt-hours of battery cells at full operation, according to Forge Nano's project announcement. That figure represents the plant's targeted capacity once fully operational, as part of the company's plan to expand its industrial operations in the United States. The project has funding of up to $100 million from the U.S. Department of Energy, according to the expansion announcement. The company described the funding as "non-dilutive" as part of the financing arrangements for the battery cell manufacturing project. Under the project timeline announced by Forge Nano, the company expects production at the Morrisville plant to begin in 2028.