Forge Nano Obtains Shareholder Approval for Nasdaq Listing via SPAC

Shareholders of Archimedes Tech SPAC Partners 2 approved the merger with Forge Nano during an extraordinary general meeting on October 16, according to MarketScreener, which valued the deal at $2.1 billion.

The combined company is expected to operate under the name Forge Nano Holdings and trade on the Nasdaq stock exchange under the ticker symbols NANO and NANOW, subject to satisfying remaining closing conditions.

Forge Nano applies atomic layer deposition technology to semiconductor chip manufacturing in the era of artificial intelligence, as well as to defense sector batteries.

A merger with a special purpose acquisition company serves as an alternative listing path, allowing a startup to reach the stock market without a traditional initial public offering (IPO).

What do these terms mean?

Special Purpose Acquisition Company (SPAC): A listed company with no commercial operations, formed to raise capital and then merge with another company to bring it to the stock market.

Reverse Merger: A process where a private company enters the stock exchange by combining with an already listed company instead of offering new shares.

Atomic Layer Deposition: A technology in which ultra-thin layers—one atom thick—cover the surfaces of microchips or batteries to enhance their performance.

Closing Conditions: The remaining obligations and approvals that must be fulfilled before the transaction can be finalized.