Archimedes Tech SPAC Partners III Co (ARCI) is a blank-check special purpose acquisition company that raised capital through an initial public offering to identify and complete a merger or acquisition with an unspecified target business. The company generates income from interest earned on funds held in a Trust Account, not from operating revenues. ARCI completed its IPO on January 26, 2026, selling 27,600,000 units at $10.00 per unit and generating gross proceeds of $276,000,000, with the full amount placed into a Trust Account. Simultaneously, 762,000 Private Placement Units were sold at $10.00 per unit to the sponsor and BTIG, LLC, generating an additional $7,620,000 in gross proceeds. As of March 31, 2026, the Trust Account held $277,775,000 in demand deposits. ARCI has no operating business, no customers, and no product revenues. Its sole objective is to complete an initial Business Combination. Total transaction costs incurred at IPO were $15,722,207, including a $9,660,000 deferred underwriting fee.
Source: SEC 10-Q, filed 2026-05-14
Industry: Blank Checks
Loading...