Forge Nano to list on Nasdaq via $1.6 billion SPAC merger

Forge Nano, a semiconductor equipment and advanced materials provider based in the United States, has announced plans to go public through a merger with Archimedes Tech SPAC Partners II. The deal values the combined company at an enterprise value of approximately $1.6 billion and highlights the sustained momentum in the artificial intelligence sector, where increased spending on data centers and high-performance computing continues to benefit supply chain participants.

The transaction is expected to generate up to $342 million in gross proceeds, including $242 million currently held in the special purpose acquisition company’s trust account. While the popularity of SPAC listings peaked in 2020 and 2021 before facing regulatory headwinds and cooling investor sentiment, Forge Nano aims to leverage this route to accelerate its growth strategy in a capital-intensive industry.

The company maintains a strong roster of strategic backers, including the German automaker Volkswagen and GENERAL MOTORS CO through its venture arm, alongside LG Technology Ventures. Additionally, the firm has secured a $100 million grant from the U.S. Department of Energy to bolster its domestic production capabilities and support the transition to advanced manufacturing.

Management intends to utilize the new capital to scale the manufacturing of semiconductor tools and lithium-ion batteries. The company also plans to expand its footprint in high-growth sectors such as quantum computing, pharmaceuticals, and data center infrastructure, capitalizing on the demand for specialized material coatings.

The merger is slated for completion in the second half of 2026, subject to customary closing conditions and shareholder approval. Upon the deal’s conclusion, the combined entity is expected to trade on the Nasdaq stock exchange under the ticker symbol NANO.