Forge Nano to Go Public via $1.6 Billion SPAC Deal to Scale AI-Chip and Defense Battery Platform

New updates have been reported about Forge Nano.

Forge Nano has agreed to merge with Archimedes Tech SPAC Partners II in a deal that will take the U.S.-based semiconductor equipment and advanced materials company public on NASDAQ under the symbols NANO and NANOW, valuing Forge Nano at about $1.2 billion pre-money. The transaction structure includes a $100 million PIPE, access to roughly $242 million of SPAC trust cash assuming no redemptions, and an earnout of up to $900 million in stock tied to share price and revenue milestones, implying potential total equity value of around $1.595 billion.

Management expects the capital to accelerate U.S. manufacturing of Forge Nano’s Atomic Armor ALD nanocoating tools and lithium-ion batteries, deepen its position in the domestic battery supply chain for defense, and extend its technology into fast-growing sectors including AI-era semiconductors, data centers, quantum computing, and pharmaceuticals. Backed by strategic investors such as Volkswagen, GM Ventures, LG Technology Ventures and supported by a $100 million U.S. Department of Energy grant, Forge Nano is targeting a more than $359 billion total addressable market by 2034, with CEO Paul Lichty highlighting that public-market visibility and scale funding are intended to convert its existing commercial traction into broader deployment across critical U.S. energy and technology infrastructure.