Thornton’s industrial strip is about to get a Wall Street subplot. Local materials-science player Forge Nano is gearing up to go public on Nasdaq through a merger with Archimedes Tech SPAC Partners II, a deal that pegs the Denver-area company at roughly $1.2 billion and hands it fresh cash to beef up U.S. manufacturing. The combined company is expected to trade under the ticker symbol NANO, with proceeds aimed at ramping up its atomic-layer deposition tools for AI and memory chips and helping drive a planned gigafactory for lithium-ion cells in Morrisville, North Carolina.
As laid out in a Form 8-K filed with the SEC, Archimedes II and Forge Nano signed a definitive merger agreement on April 20, 2026, a move that would take Forge Nano public after unanimous approval from both boards. The filing also spells out the regulatory sign-offs and shareholder votes that still need to happen before the deal can officially close.
In a press release, Forge Nano said the transaction implies a pre-money equity valuation of about $1.2 billion and could deliver roughly $342 million in gross proceeds. That haul includes an estimated $242 million sitting in the SPAC’s trust plus a $100 million PIPE commitment, alongside about $82.5 million tied to a recent Series D round. The company says the money will go toward scaling up production of both semiconductor coating tools and battery cells. Co-founder and CEO Paul Lichty framed the deal as part of a bigger national push, saying domestic manufacturing of critical technologies is increasingly important to energy security and technology leadership.
How Forge Plans To Spend The Cash
Company materials and filings indicate the new capital will help expand factory square footage, speed up rollout of its TEPHRA atomic-layer deposition tools for AI-era chips and memory, and back commercial battery production at the future North Carolina plant. Forge Battery has been selected for negotiations tied to a $100 million U.S. Department of Energy award, and local reporting says the Morrisville gigafactory is expected to generate more than 200 jobs in the Triangle. WRAL TechWire covered the site selection along with the incentives and deal terms that helped reel it in.
Technology And Customers
Forge Nano’s pitch revolves around its Atomic Armor™ atomic-layer deposition coatings and TEPHRA production tools, which aim to cut semiconductor yield losses and extend battery life and durability. That kind of performance boost has attracted a lineup of strategic investors and partners. TechCrunch reported that GM has worked with the company on battery improvements, and Forge Nano’s investor roster includes Volkswagen, LG Technology Ventures and Hanwha, signaling strong interest from auto and industrial players that live or die by reliability metrics.
What This Means Locally
For the Denver metro, the deal is more than just another SPAC headline. Forge Nano’s headquarters and manufacturing footprint in the Thornton area give the region a higher-profile advanced-manufacturing anchor, the kind of operation that can pull in suppliers, talent and follow-on investment to nearby industrial parks. Denver Business Journal first reported the merger and noted that Forge Nano plans to pour proceeds into both its Colorado operations and the new North Carolina facility.
Next Steps And Approvals
The companies expect the business combination to close in the second half of 2026, assuming it clears a checklist that includes shareholder approvals, any required Hart-Scott-Rodino antitrust reviews, the effectiveness of an SEC registration statement and the green light for a Nasdaq listing. A related Form 8-K filed with the SEC and company materials also note that an investor webcast is slated for later this month to walk through the presentation and timeline for would-be shareholders.
