Form 8-K
8-K — Archimedes Tech SPAC Partners II Co.
Accession: 0001104659-26-083534
Filed: 2026-07-14
Period: 2026-07-14
CIK: 0002028516
SIC: 6770 (BLANK CHECKS)
Item: Unregistered Sales of Equity Securities
Item: Other Events
Item: Financial Statements and Exhibits
Documents
8-K — tm264900d12_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm264900d12_ex99-1.htm)
EX-99.2 — EXHIBIT 99.2 (tm264900d12_ex99-2.htm)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
July 14, 2026
Date of Report (Date of earliest event reported)
Archimedes
Tech SPAC Partners II Co.
(Exact Name of Registrant as Specified in its Charter)
Cayman Islands
001-42514
N/A
(State or other jurisdiction
of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
2093 Philadelphia Pike #1968
Claymont, DE
19703
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including
area code: (725) 312-2430
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
x
Written communications pursuant to Rule 425 under the Securities Act
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on
which registered
Units, each consisting of one Ordinary Share, par value $0.0001 per share, and one-half of one redeemable Warrant
ATIIU
The Nasdaq Stock Market LLC
Ordinary Shares
ATII
The Nasdaq Stock Market LLC
Warrants
ATIIW
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the
Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company x
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.02. Unregistered Sales of Equity Securities
The information disclosed under Item 8.01 of this Current Report on
Form 8-K is incorporated by reference into this Item 3.02 to the extent required herein. The shares of Pubco Common Stock (as defined
below) issuable in connection with the PIPE Financing (as defined below) will not be registered under the Securities Act of 1933, as amended
(the “Securities Act”), in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities
Act.
Item 8.01. Other Events.
As previously disclosed by Archimedes Tech SPAC
Partners II Co., a Cayman Islands exempted company (“ATII”), in its Current Report on Form 8-K filed on April 20, 2026
with the U.S. Securities and Exchange Commission (the “SEC”), on April 20, 2026, ATII, ATII Holdings Inc., a Delaware
corporation and a wholly-owned subsidiary of ATII (“Pubco”), ATII Merger Sub Inc., a Delaware corporation and a wholly-owned
subsidiary of ATII (“Merger Sub I”), ATII Merger Sub II, LLC, a Delaware limited liability company and a wholly-owned
subsidiary of ATII (“Merger Sub II”) and Forge Nano, Inc., a Delaware corporation (“Forge Nano”),
entered into an Agreement and Plan of Merger (the “Merger Agreement”) relating to the proposed business combination
by and among the parties thereto (the transactions contemplated under the Merger Agreement, collectively, the “proposed business
combination”).
On July 14, 2026, Forge Nano issued a press release
announcing that Pubco, Forge Nano and ATII (solely with respect to limited provisions therein) have entered into subscription agreements
(each, a “Subscription Agreement,” and the transactions contemplated under the Subscription Agreements, collectively,
the “PIPE Financing”) with certain investors (the “PIPE Investors”), pursuant to which Pubco will,
substantially concurrently with, and contingent upon, the consummation of the proposed business combination, sell to the PIPE Investors
an aggregate of 2,300,000 shares of the common stock, par value $0.0001 per share, of Pubco (each, a share of “Pubco Common Stock,”
and the Pubco Common Stock issuable pursuant to the PIPE Financing, the “PIPE Shares”), in a private placement for
a purchase price of $10.00 per PIPE Share. The PIPE Financing is expected to close in conjunction with the closing of the proposed business
combination and generate gross proceeds of approximately $23,000,000. A copy of the press release is attached as Exhibit 99.1 and is incorporated
herein by reference.
The closing of the PIPE Financing (the “PIPE
Closing”) is conditioned upon, among other things, (i) the substantially concurrent closing of the proposed business combination
and (ii) the accuracy of all representations and warranties of Pubco and Forge Nano in the Subscription Agreements (subject to certain
bring-down standards). The Subscription Agreements contain customary representations, warranties and agreements by Pubco, Forge Nano and
the PIPE Investors, additional customary conditions to closing, indemnification obligations of Pubco, including for liabilities arising
under the Securities Act, other obligations of the parties, and termination provisions.
Pubco has agreed that within thirty (30) days
of the date of the closing of the proposed business combination (the “Closing Date”), Pubco will file (at its sole
cost and expense) with the SEC a registration statement on Form S-3 or Form S-1 or any similar or successor long form registration statement
(the “PIPE Registration Statement”) registering the resale of the Registrable Securities (as defined in the Subscription
Agreements), and will use its commercially reasonable efforts to have such PIPE Registration Statement declared effective as soon as practicable
after the filing thereof, but no later than the earlier of (i) sixty (60) calendar days following the Closing Date (or ninety (90) calendar
days following the Closing Date if the SEC notifies Pubco that it will “review” such PIPE Registration Statement) and (ii)
five (5) business days after Pubco is notified by the SEC that such PIPE Registration Statement will not be “reviewed” or
will not be subject to further review, subject to customary exceptions. Pursuant to the Subscription Agreements, Pubco will cause such
PIPE Registration Statement to remain effective until the earliest of: (i) such time as when all of each PIPE Investor’s securities
included therein cease to be Registrable Securities, (ii) such time as when all of such PIPE Investor’s Registrable Securities included
in such PIPE Registration Statement have actually been sold and (iii) three (3) years from the Closing Date.
The Subscription Agreements also provide that
if, during the twelve (12)-month period following the Closing Date, Pubco issues shares of Pubco Common Stock (other than certain Exempt
Issuances (as defined in the Subscription Agreements) which include, among other exemptions, issuances to certain specified investors
in an aggregate amount up to $60,000,000), on terms that, in each PIPE Investor’s good faith determination, are more favorable in
any material respect than those provided to such PIPE Investor in the PIPE Financing (such terms, the “PIPE Financing Terms”),
then Pubco shall be obligated to adjust the PIPE Financing Terms so that the PIPE Financing Terms are no less favorable than the terms
of such subsequent issuance(s).
The foregoing description of the Subscription
Agreements is qualified in its entirety by reference to the full text of the Subscription Agreements, a copy of the form of which is filed
as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference.
Important Information and Where to Find It
Additional information about the proposed business combination, including
a copy of the Merger Agreement, has been filed by ATII in a Current Report on Form 8-K with the SEC. In connection with the proposed business
combination, Pubco and Forge Nano have filed documents with the SEC, including a registration statement on Form S-4 (as may be amended
from time to time, the “Registration Statement”), which includes a proxy statement of ATII and a prospectus of Pubco,
relating to the proposed business combination. After the SEC declares the Registration Statement effective, the Registration Statement
will be mailed to ATII’s shareholders in connection with the proposed business combination. This Current Report on Form 8-K is not
a substitute for the proxy statement/prospectus contained in the Registration Statement or any other document that may be filed by Pubco
with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER
DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION OR INCORPORATED BY REFERENCE IN THE REGISTRATION
STATEMENT BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION. Any vote in respect of resolutions to be
proposed at ATII’s extraordinary general meeting to approve the proposed business combination or other responses in relation to
the related proposed transactions should be made only on the basis of the information contained in the Registration Statement. Investors
and security holders may obtain free copies of these documents (as they become available) and other related documents filed with the SEC
at the SEC’s website at www.sec.gov or by directing a request to: Archimedes Tech SPAC Partners II Co., 2093 Philadelphia Pike #1968,
Claymont, DE 19703.
Participants in the Solicitation
Each of ATII, Pubco, Forge Nano and their respective directors, executive
officers and other members of management and employees, under SEC rules, may be deemed to be “participants” in the solicitation
of proxies from shareholders of ATII in favor of the proposed business combination. Information about ATII’s directors and officers
is set forth in ATII’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report on Form
10-K”), which was filed with the SEC on March 4, 2026, and ATII’s other filings with the SEC. Additional information concerning
the interests of ATII’s participants in the solicitation, which may, in some cases, be different than those of ATII’s shareholders
generally, are set forth in the Registration Statement relating to the proposed business combination. These documents are available free
of charge at the SEC’s web site at www.sec.gov.
No Offer or Solicitation
This Current Report on Form 8-K is for information purposes only and
is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase,
otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction,
pursuant to the proposed business combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction
in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section
10 of the Securities Act.
Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking information
about, among other topics, the proposed business combination. All statements, other than statements of present or historical fact, included
in this Current Report on Form 8-K regarding the proposed business combination, ATII’s, Pubco’s and Forge Nano’s ability
to consummate the proposed business combination, the benefits of the proposed business combination and the combined company’s future
financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues
and losses, projected costs, prospects, plans and objectives of management, are forward-looking statements. When used in this Current
Report on Form 8-K, the words “could,” “should,” “will,” “may,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such
terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain
such identifying words. These forward-looking statements are based on the current expectations and assumptions of ATII’s, Pubco’s
and Forge Nano’s management about future events and are based on currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law, ATII, Pubco and Forge Nano disclaim any duty to update any forward-looking
statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date
of this Current Report on Form 8-K.
ATII, Pubco and Forge Nano caution you that these forward-looking statements
are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of ATII,
Pubco or Forge Nano. Risks and uncertainties include, among other things: (i) risks related to the occurrence of any event, change or
other circumstances that could delay the proposed business combination or give rise to the termination of the agreements related thereto;
(ii) risks related to the outcome of any legal proceedings that may be instituted against ATII, Pubco or Forge Nano following announcement
of the transactions; (iii) risks related to the inability to complete the proposed business combination due to the failure to obtain approval
of the shareholders of ATII, Pubco and Forge Nano, or other conditions to closing in the Merger Agreement; (iv) the risk that the proposed
business combination disrupts ATII’s, Pubco’s or Forge Nano’s current plans and operations as a result of the announcement
of the transactions; (v) risks related to Forge Nano’s ability to realize the anticipated benefits of the proposed business combination,
which may be affected by, among other things, competition and the ability of Forge Nano to grow and manage growth profitably following
the proposed business combination; (vi) risks related to costs related to the proposed business combination; (vii) risks related to changes
in applicable laws or regulations; (viii) risks related to Forge Nano’s ability to successfully develop and deploy new technologies
to address the needs of its customers; (ix) risks related to the effects of competition on Forge Nano’s business, financial condition
and results of operations; (x) risks related to the availability and cost of the raw materials necessary for the production of Forge Nano’s
products; (xi) risks related to Forge Nano’s ability to meet the specifications and requirements of its customers or adequately
provide them with effective support and services; (xii) risks related to delays in the construction and operation of production facilities;
(xiii) risks related to intellectual property infringement, data protection, and other losses; (xiv) risks related to the amount of redemption
requests made by ATII’s public shareholders; (xv) risks related to the combined company’s ability to operate effectively as
a public company, including its ability to implement controls and procedures required for public companies following the business combination;
(xvi) risks related to changes in domestic and foreign business, market, financial, political and legal conditions; (xvii) risks related
to the possibility that ATII, Pubco or Forge Nano may be adversely affected by other economic, business, and/or competitive factors; and
(xviii) other risks discussed in ATII’s Annual Report on Form 10-K and that are presented in the Registration Statement. There may
be additional risks that ATII, Pubco or Forge Nano presently do not know or that ATII, Pubco or Forge Nano currently believe are immaterial
that could also cause actual results to differ from those contained in the forward-looking statements. Should one or more of the risks
or uncertainties described in this Current Report on Form 8-K, or should underlying assumptions prove incorrect, actual results and plans
could differ materially from those expressed or implied in any forward-looking statements. Additional information concerning these and
other factors that may impact the operations and projections discussed herein can be found in ATII’s periodic filings with the SEC,
including ATII’s Annual Report on Form 10-K and the Registration Statement. These SEC filings are available free of charge on the
SEC’s website at www.sec.gov.
You should carefully consider the foregoing factors and the other risks
and uncertainties that affect the businesses of ATII, Pubco and Forge Nano described in the “Risk Factors” and “Forward-Looking
Statements” sections of the Registration Statement and other documents filed or to be filed by any of them from time to time with
the SEC, all of which are available at www.sec.gov. These filings identify and address other important risks and uncertainties that could
cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements
speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ATII, Pubco
and Forge Nano assume no obligation to, and do not intend to, update or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise, unless required by law. None of ATII, Pubco or Forge Nano gives any assurance that it will
achieve its expectations.
Item 9.01. Financial Statements and Exhibits.
Exhibit No.
Description
99.1
Press Release dated July 14, 2026
99.2
Form of Subscription Agreement
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 14, 2026
ARCHIMEDES TECH SPAC PARTNERS II CO.
By:
/s/ Long Long
Name:
Long Long
Title:
Chief Executive Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm264900d12_ex99-1.htm · Sequence: 2
Exhibit 99.1
Forge Nano Secures Additional $23 Million in
PIPE Financing at $10.00 Per Share, Closes Series D with Samsung Investment Ahead of Public Listing
· New commitment brings total PIPE financing to $123 million as Forge Nano continues its path towards its NASDAQ listing
· All $23 million of new PIPE commitments priced at $10.00 per share
· Samsung SDI commits $20 million to Forge Nano, including $10 million in Forge Nano's PIPE financing
· Forge Nano successfully closes its Series D at $97 million, rounding out its pre-IPO capital formation
· Forge Nano's public listing would deliver over $367 million in pro forma cash, assuming no redemptions - combining approximately $244
million in trust with $123 million in PIPE commitments
DENVER
– July 14 – Forge Nano, Inc., a leading U.S.-based semiconductor equipment and advanced
materials company pioneering Atomic Layer Deposition (“ALD”) technology for artificial intelligence (“AI”)-era
chip manufacturing and defense battery applications, which has signed an agreement to merge with Archimedes Tech SPAC Partners II Co.
(“Archimedes II”) (NASDAQ: ATII), today announced an additional $23 million of committed PIPE financing ahead of its expected
public listing on NASDAQ. All $23 million of the incremental PIPE financing was priced at $10.00 per share, increasing total PIPE commitments
to $123 million.
The additional financing includes a $20 million strategic investment
from Samsung SDI, comprised of $10 million in the Company's PIPE financing and $10 million in Forge Nano's Series D financing. Horizons
Ventures has also participated in the Company’s PIPE financing. Forge Nano has also successfully closed its Series D at $97
million, rounding out its pre-IPO capital formation.
Assuming no shareholder redemptions, Forge Nano’s public listing
would deliver over $367 million in pro forma cash comprised of the $123 million PIPE and $244 million in Archimedes II cash in trust.
Upon closing of the business combination, Forge Nano expects that its substantial capital will accelerate commercialization of the Company’s
ALD semiconductor equipment platform and expand domestic manufacturing of advanced lithium-ion battery materials.
"These additional commitments represent a strong vote of confidence
from both strategic and financial investors as we prepare to become a public company," said Paul Lichty, CEO of Forge Nano. "Samsung
SDI's investment reinforces our shared vision for strengthening the domestic battery supply chain, while the new PIPE commitments at $10.00
per share demonstrate continued investor conviction in Forge Nano's long-term growth strategy. We believe we are exceptionally well positioned
to scale manufacturing, execute on our commercial pipeline and meet growing demand across the semiconductor and defense battery markets."
The business combination with Archimedes II is expected to close in
the second half of 2026, subject to approval by Archimedes II shareholders and the satisfaction of customary closing conditions.
ABOUT FORGE NANO
Forge
Nano is a leading U.S. based semiconductor equipment and advanced materials company pioneering Atomic Layer Deposition (“ALD”)
technology for AI-era chip manufacturing and defense battery applications via its platform technology, Atomic Armor®.
Atomic Armor® is a scalable, adaptable nano-scale coating system that
strengthens America’s most critical systems – at the atomic level. The superior surface coatings produced by Forge Nano’s
Atomic Armor® process allow partners to unlock peak performance. Learn
more at https://www.forgenano.com.
ABOUT ARCHIMEDES II
Archimedes II is a Cayman Islands exempted company led by Chairman
Eric R. Ball and CEO Long Long and is comprised of technology investors, corporate finance veterans, engineers and SPAC specialists. Archimedes
II was formed as a special purpose acquisition company, or SPAC, for the purpose of effecting a merger with one or more businesses in
the technology industry. Archimedes II completed its $230 million IPO in February 2025, and its units, ordinary shares and warrants
currently trade on the NASDAQ under the ticker symbols “ATIIU,” “ATII” and “ATIIW,” respectively.
The team’s prior SPAC, Archimedes Tech SPAC Partners Co., successfully closed its merger with SoundHound AI, Inc. in April 2022.
Learn more at https://www.archimedesspac2.com.
IMPORTANT INFORMATION AND WHERE TO FIND IT
In connection with the proposed business combination, ATII Holdings
Inc. (“Pubco”), a wholly-owned subsidiary of Archimedes II, and Forge Nano have filed documents with the Securities and Exchange
Commission (the “SEC”), including a registration statement on Form S-4 (the “Registration Statement”), which
includes a proxy statement of Archimedes II and a prospectus of Pubco, relating to the proposed business combination. After the SEC declares
the Registration Statement effective, the Registration Statement will be mailed to Archimedes II’s shareholders in connection with
the proposed business combination. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION
STATEMENT AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION OR INCORPORATED
BY REFERENCE IN THE REGISTRATION STATEMENT BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION. Any vote
in respect of resolutions to be proposed at Archimedes II’s extraordinary general meeting to approve the proposed business combination
or other responses in relation to the proposed transaction should be made only on the basis of the information contained in the Registration
Statement. Investors and security holders may obtain free copies of these documents (as they become available) and other related documents
filed with the SEC at the SEC’s website at www.sec.gov or by directing a request to: Archimedes Tech SPAC Partners II Co., 2093
Philadelphia Pike #1968, Claymont, DE 19703.
PARTICIPANTS IN THE SOLICITATION
Each of Archimedes II, Pubco, Forge Nano and their respective directors,
executive officers and other members of management and employees, under SEC rules, may be deemed to be “participants” in the
solicitation of proxies from shareholders of Archimedes II in favor of the proposed business combination. Information about Archimedes
II’s directors and officers is set forth in Archimedes II’s Annual Report on Form 10-K for the fiscal year ended December 31,
2025, which was filed with the SEC on March 4, 2026 and Archimedes II’s other filings with the SEC. Additional information
concerning the interests of Archimedes II’s participants in the solicitation, which may, in some cases, be different than those
of Archimedes II’s shareholders generally, are set forth in the Registration Statement relating to the proposed business combination.
These documents are available free of charge at the SEC’s web site at www.sec.gov.
NO OFFER OR SOLICITATION
This communication is for information purposes only and is not intended
to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction,
pursuant to the proposed business combination or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction
in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10
of the Securities Act.
FORWARD LOOKING STATEMENTS
This communication includes forward-looking information about, among
other topics, the proposed business combination. All statements, other than statements of present or historical fact included in this
communication regarding the proposed business combination, Archimedes II’s, Pubco’s and Forge Nano’s ability to consummate
the proposed business combination, the benefits of the proposed business combination and the combined company’s future financial
performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and
losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this communication,
the words “could,” “should,” “will,” “may,” “believe,” “anticipate,”
“intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar
expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying
words. These forward-looking statements are based on the current expectations and assumptions of Archimedes II’s, Pubco’s
and Forge Nano’s management about future events and are based on currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law, Archimedes II, Pubco and Forge Nano disclaim any duty to update any forward-looking
statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date
of this communication.
Archimedes II, Pubco and Forge Nano caution you that these forward-looking
statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control
of Archimedes II, Pubco or Forge Nano. Risks and uncertainties include, among other things: (i) risks related to the occurrence of
any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related
thereto; (ii) risks related to the outcome of any legal proceedings that may be instituted against Archimedes II, Pubco or Forge
Nano following announcement of the transactions; (iii) risks related to the inability to complete the proposed business combination
due to the failure to obtain approval of the shareholders of Archimedes II, Pubco and Forge Nano, or other conditions to closing in the
definitive agreement for the business combination; (iv) the risk that the proposed business combination disrupts Archimedes II’s,
Pubco’s or Forge Nano’s current plans and operations as a result of the announcement of the transactions; (v) risks related
to Forge Nano’s ability to realize the anticipated benefits of the proposed business combination, which may be affected by, among
other things, competition and the ability of Forge Nano to grow and manage growth profitably following the proposed business combination;
(vi) risks related to costs related to the proposed business combination; (vii) risks related to changes in applicable laws
or regulations; (viii) risks related to Forge Nano’s ability to successfully develop and deploy new technologies to address
the needs of its customers; (ix) risks related to the effects of competition on Forge Nano’s business, financial condition
and results of operations; (x) risks related to the availability and cost of the raw materials necessary for the production of Forge
Nano’s products; (xi) risks related to Forge Nano’s ability to meet the specifications and requirements of its customers
or adequately provide them with effective support and services; (xii) risks related to delays in the construction and operation of
production facilities; (xiii) risks related to intellectual property infringement, data protection, and other losses; (xiv) risks
related to the amount of redemption requests made by Archimedes II’s public shareholders; (xv) risks related to Forge Nano’s
ability to operate effectively as a public company, including its ability to implement controls and procedures required for public companies
following the business combination; (xvi) risks related to changes in domestic and foreign business, market, financial, political
and legal conditions; (xvii) risks related to the possibility that Archimedes II, Pubco or Forge Nano may be adversely affected by
other economic, business, and/or competitive factors; and (xviii) other risks discussed in Archimedes II’s Annual Report on
Form 10-K and that are presented in the Registration Statement. There may be additional risks that Archimedes II, Pubco or Forge
Nano presently do not know or that Archimedes II, Pubco or Forge Nano currently believe are immaterial that could also cause actual results
to differ from those contained in the forward-looking statements. Should one or more of the risks or uncertainties described in this communication,
or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed or implied in
any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections
discussed herein can be found in Archimedes II’s periodic filings with the SEC, including Archimedes II’s Annual Report on
Form 10-K, and the Registration Statement. These SEC filings are available free of charge on the SEC’s website at www.sec.gov.
You should carefully consider the foregoing factors and the other risks
and uncertainties that affect the businesses of Archimedes II, Pubco and Forge Nano described in the “Risk Factors” and “Forward-Looking
Statements” sections of the Registration Statement and other documents filed or to be filed by any of them from time to time with
the SEC, all of which are available at www.sec.gov. These filings identify and address other important risks and uncertainties that could
cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements
speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Archimedes
II, Pubco and Forge Nano assume no obligation to, and do not intend to, update or revise these forward-looking statements, whether as
a result of new information, future events, or otherwise, unless required by law. None of Archimedes II, Pubco or Forge Nano gives any
assurance that it will achieve its expectations.
Contacts:
Media
Contact
Will McKenna
Brand Communications Director, Forge Nano
wmckenna@forgenano.com
Investor
Relations Contact
Bryan Baritot
Alliance Advisors IR
ForgeNanoIR@allianceadvisors.com
EX-99.2 — EXHIBIT 99.2
EX-99.2
Filename: tm264900d12_ex99-2.htm · Sequence: 3
Exhibit 99.2
Execution Version
SUBSCRIPTION
AGREEMENT
This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement” or “Agreement”) is entered into this __ day of _______, 2026, by
and between ATII Holdings Inc., a Delaware corporation (the “Company”), Forge Nano, Inc., a Delaware corporation
(“Forge Nano”), the undersigned (“Subscriber” or “you”) and, solely for purposes
of Section 8 hereof, Archimedes Tech SPAC Partners II Co., a Cayman Islands exempted company limited by shares (the “SPAC”).
Defined terms used but not otherwise defined herein shall have the respective meanings ascribed thereto in the Transaction Agreement
(as defined below).
WHEREAS, the Company is a
wholly owned subsidiary of SPAC;
WHEREAS, the Company, Forge
Nano, the SPAC and the other parties named therein have entered into an agreement and plan of merger on April 20, 2026 (as it may
be amended, the “Transaction Agreement”), pursuant to which, among other things, (i) SPAC will merge into the
Company (the “Reincorporation”), (ii) at least one day following the effective time of the Reincorporation, Merger
Sub I, a wholly-owned subsidiary of the Company, will merge with and into Forge Nano, and Forge Nano will continue as the surviving corporation
(the “Initial Surviving Corporation”) and as a wholly-owned subsidiary of the Company (the “First Company
Merger”) and (iii) immediately following the effective time of the First Company Merger, the Initial Surviving Corporation
will merge with and into Merger Sub II, and Merger Sub II will continue as the surviving company and as a wholly-owned subsidiary of
the Company (the “Second Company Merger” and together with the Reincorporation and the First Company Merger, the “Transaction”);
WHEREAS, in connection with
and contingent on the closing of the Transaction (the “Transaction Closing”), and pursuant to the terms and conditions
hereof, Subscriber desires to subscribe for and purchase from the Company that number of the Company’s shares of common stock,
par value $0.0001 per share (the “Common Stock”), equal to (i) the aggregate purchase price set forth on the
signature page hereto (the “Purchase Price”), divided by (ii) $10.00 (the “Per Share Price”);
the shares of Common Stock to be purchased pursuant to this Agreement are referred to herein as the “Securities”;
WHEREAS, the Company desires
to issue and sell to Subscriber at the Closing the Securities (as defined below) in consideration of the payment of the Purchase Price
by or on behalf of Subscriber to the Company on or prior to the Closing (as defined below);
WHEREAS, in connection with
the Transaction, the Company has entered into a separate subscription agreement (the “Initial Subscription Agreement”),
dated as of April 20, 2026, in the form attached to the Transaction Agreement with a certain institutional “accredited investor”
(within the meaning of Rule 501(a) under the Securities Act of 1933, as amended (the “Securities Act”) or
“qualified institutional buyer” (within the meaning of Rule 144A under the Securities Act) (the “Initial Subscriber”),
pursuant to which the Initial Subscriber has agreed to purchase on the closing date of the Transaction (the “Closing Date”)
shares of Common Stock on and subject to the terms set forth in the Initial Subscription Agreement; and
WHEREAS, in connection with
the Transaction, certain other institutional “accredited investors” (within the meaning of Rule 501(a) under the
Securities Act) or “qualified institutional buyers” (within the meaning of Rule 144A under the Securities Act) (the
“Other Subscribers”) are entering into separate subscription agreements with the Company substantially similar to
this Subscription Agreement (“Other Subscription Agreements”), pursuant to which such Other Subscribers, and Subscriber
pursuant to this Subscription Agreement, have agreed, severally and not jointly, to purchase on the closing date of the Transaction (the
“Closing Date”) shares of Common Stock at the Per Share Price (the “Offering”).
NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties and covenants, and pursuant to the terms and subject to the conditions, herein
contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows:
1. Subscription.
1.1 Subject
to the terms and conditions hereof, Subscriber hereby subscribes for and agrees to purchase from the Company at the Closing, and the
Company hereby agrees to issue and sell to Subscriber, at the Closing, upon the payment of the Purchase Price, the Securities on the
terms and conditions set forth herein (such subscription and issuance, the “Subscription”).
1.2 If
at any time on or before twelve (12)-month anniversary of the Closing Date, the Company issues any shares of Common Stock to any person
(the “New Securities”), other than an Exempt Issuance, then the Company shall promptly, but in no case more than ten
(10) business days following such issuance, provide the Subscriber with written notice thereof (the “MFN Notice”),
along with the terms of any agreement with respect to such issuance of New Securities. In the event that the Subscriber determines in
good faith that the terms, rights, or privileges provided to such New Securities in connection with the issuance of such New Securities
(collectively, the “New Security Terms”) are more favorable in any material respect than those provided to the Securities
or to the Subscriber in connection with the Closing (collectively, the “Subscription Terms”), the Subscriber shall
notify the Company of such deviation in writing within ten (10) business days of the receipt of the MFN Notice. Promptly after receipt
of such written notice from the Subscriber, the Company agrees to take any and all actions that are necessary or advisable to amend and
restate the terms of the Securities and this Subscription Agreement, or otherwise enter into one or more side letters or other agreements
with the Subscriber, such that the New Security Terms are not more favorable in any material respect than the Subscription Terms. For
purposes of this Section 1.2, “Exempt Issuance” means the issuance of (a) any securities of the Company to employees,
officers or directors, consultants, contractors, vendors or other agents of the Company or its subsidiaries pursuant to any share or
option plan duly adopted for such purpose or any other compensatory arrangement with a director, executive officer, employee or agent
approved by a majority of the non-employee members of the Company’s board of directors or a majority of the members of a committee
of non-employee directors established for such purpose for services rendered to the Company or its subsidiaries, (b) securities
pursuant to the Initial Subscription Agreement or the Transaction Agreement and securities upon the exercise or exchange of or conversion
of any securities issued pursuant to the Initial Subscription Agreement or the Transaction Agreement and/or other securities exercisable
or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of the Transaction Closing (the “Closing
Date”), provided that such securities have not been amended since the Closing Date to increase the number of such securities
or to decrease the exercise price, exchange price or conversion price of such securities (other than in connection with share consolidations,
share divisions and automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such securities which are
not more favorable to the holder thereof than the anti-dilution and similar provisions set forth herein) or to extend the term of such
securities, (c) any securities of the Company at or prior to the Closing Date to the investors listed on Schedule B hereto, in each
case including any “affiliate” (as defined in Rule 144 under the Securities Act) thereof, for aggregate proceeds not
exceeding $60 million, (d) the underlying shares, and (e) securities issued pursuant to any merger, acquisition or strategic
transaction or partnership, provided that (i) such securities are issued as “restricted securities” (as defined in Rule 144)
or are issued pursuant to an effective registration statement pursuant to the Securities Act and (ii) any such issuance shall only
be to a person (or to direct or indirect the equityholders and/or debtholders of a person) which is, itself or through its subsidiaries,
an operating company or an owner of an asset that the Company determines in good faith is similar, reasonably related, incidental or
ancillary to the then business or operations of the Company and its subsidiaries or their assets or is otherwise to be used or useful
in such business or operations, but any such Exempt Issuance shall not include a transaction in which the Company is issuing securities
(x) primarily for the purpose of raising capital, including an at-the-market offering, or (y) to an entity whose primary business
is investing in securities (excluding, for the avoidance of doubt, any holding company or parent of a person described above).
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2. Representations,
Warranties and Agreements.
2.1 Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Securities to Subscriber, Subscriber hereby represents
and warrants to the Company and Forge Nano and agrees with the Company and Forge Nano as follows:
2.1.1 If
Subscriber is an entity, Subscriber has been duly formed or incorporated and is validly existing and in good standing under the laws
of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under
this Subscription Agreement. If Subscriber is an individual, Subscriber has the authority to enter into, deliver and perform Subscriber’s
obligations under this Subscription Agreement.
2.1.2 This
Subscription Agreement has been duly authorized, executed and delivered by Subscriber. If Subscriber is an individual, the signature
on this Subscription Agreement is genuine, and Subscriber has legal competence and capacity to execute the same. This Subscription Agreement
constitutes a valid and binding obligation of Subscriber, enforceable against Subscriber in accordance with its terms, except as may
be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws
relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity.
2.1.3 Assuming
the accuracy of the Company’s and Forge Nano’s representations and warranties as set forth in Sections 2.2 and 2.3, respectively,
hereof, the execution, delivery and performance by Subscriber of this Subscription Agreement and the consummation of the transactions
contemplated herein do not and will not (i) conflict with or result in a breach or violation of any of the terms or provisions of,
or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or
assets of Subscriber or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease,
license or other agreement or instrument to which Subscriber is a party or by which Subscriber is bound or to which any of the property
or assets of Subscriber is subject, which would reasonably be expected to have a material adverse effect on the ability of Subscriber
to enter into and perform its obligations under this Subscription Agreement (a “Subscriber Material Adverse Effect”);
(ii) if Subscriber is not an individual, result in any violation of the provisions of the organizational documents of Subscriber
or any of its subsidiaries in any material respect; or (iii) result in any violation of any statute or any judgment, order, rule or
regulation of any court or government or governmental, tribunal, judicial, administrative federal, state, local, or foreign or any agency,
bureau, board, commission instrumentality or authority thereof, including any state’s attorney general or any court or arbitrator
(public or private) (“Authority”), having jurisdiction over Subscriber or any of its subsidiaries or any of their
respective properties that would reasonably be expected to have a Subscriber Material Adverse Effect.
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2.1.4 The
Subscriber (i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an “accredited
investor” (within the meaning of Rule 501(a) under the Securities Act), in each case, satisfying the applicable requirements
set forth on Schedule A, (ii) is acquiring all of the Securities only for his, her or its own account and not for the account
of others, or if the Subscriber, or the investment advisor to which Subscriber has delegated decision making authority over its investments,
is subscribing for the Securities as a fiduciary or agent for one or more investment accounts, the Subscriber has full investment discretion
with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein
on behalf of each owner of each such account, and (iii) is not acquiring the Securities with a view to, or for offer or sale in
connection with, any distribution thereof in violation of the Securities Act or the applicable laws of any jurisdiction (and shall provide
the requested information set forth on Schedule A). If the Subscriber is an entity, the Subscriber is not an entity formed for
the specific purpose of acquiring the Securities.
2.1.5 Subscriber
understands and agrees that the Securities are being offered in a transaction not involving any public offering within the meaning of
the Securities Act and that the Securities have not been registered under the Securities Act. Subscriber understands and agrees that
the Securities may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an effective registration statement
under the Securities Act with respect to the Securities except (i) to the Company or a subsidiary thereof, or (ii) pursuant
to another applicable exemption from the registration requirements of the Securities Act that is available and that any book entries
representing the Securities shall contain a restrictive legend to such effect. Subscriber understands and agrees that the Securities
will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act. Subscriber understands and agrees that
the Securities will be subject to the foregoing transfer restrictions and, as a result of these transfer restrictions, Subscriber may
not be able to readily resell the Securities and may be required to bear the financial risk of an investment in the Securities for an
indefinite period of time, Subscriber understands that it has been advised to consult legal, tax and accounting counsel prior to making
any offer, resale, transfer, pledge or other disposition of any of the Securities.
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2.1.6 Subscriber
understands and agrees that Subscriber is purchasing the Securities directly from the Company. Subscriber further acknowledges that there
have been no representations, warranties, covenants and agreements made to Subscriber by the Company or any of its officers or directors,
expressly or by implication, other than those representations, warranties, covenants and agreements included in this Subscription Agreement,
and Subscriber is not relying on any representations, warranties or covenants other than those expressly set forth in this Subscription
Agreement.
2.1.7 Subscriber
represents and warrants that its acquisition and holding of the Securities will not constitute or result in a non-exempt prohibited transaction
under Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), Section 4975
of the Internal Revenue Code of 1986, as amended, or any applicable similar law.
2.1.8 In
making its decision to purchase the Securities, Subscriber represents that it has relied solely upon independent investigation made by
Subscriber and the representations, warranties, and covenants of the Company contained in this Subscription Agreement. Subscriber acknowledges
and agrees that Subscriber has received and has had an adequate opportunity to review, such financial and other information as Subscriber
deems necessary in order to make an investment decision with respect to the Securities and made its own assessment and is satisfied concerning
the relevant tax and other economic considerations relevant to Subscriber’s investment in the Securities. Without limiting the
generality of the foregoing, Subscriber acknowledges that it has had the opportunity to review the documents provided to Subscriber by
the Company, including (collectively, the “Disclosure Documents”): (i) the final prospectus of the SPAC, dated
as of February 10, 2025 and filed with the Securities and Exchange Commission (the “Commission”) (File Nos. 333-282885)
(the “Prospectus”), (ii) each SEC Document (as defined below) through the date of this Subscription Agreement,
(iii) the Transaction Agreement, a copy of which will be filed by the SPAC with the Commission and (iv) the investor presentation
by the SPAC and Forge Nano (the “Investor Presentation”), a copy of which will be furnished by the SPAC to the Commission.
Subscriber represents and agrees that Subscriber and its professional advisor(s), if any, have had the full opportunity to ask the Company’s
management questions, receive such answers and obtain such information as Subscriber and its professional advisor(s), if any, have deemed
necessary to make an investment decision with respect to the Securities. The Subscriber further acknowledges that, in purchasing the
Securities, Subscriber is not relying upon any projections contained in the Investor Presentation.
2.1.9 Subscriber
became aware of this offering of the Securities solely (a) by means of direct contact from the Company, Forge Nano, or a representative
of the Company or Forge Nano, including the Placement Agent (as defined below), or (b) directly from the Company as a result of
a pre-existing, substantial relationship with the Company, and the Securities were offered to Subscriber solely by direct contact between
Subscriber and either the Company or Forge Nano, or a representative of the Company or Forge Nano, including the Placement Agent. Subscriber
did not become aware of this offering of the Securities, nor were the Securities offered to Subscriber, by any other means. Subscriber
acknowledges that the Company represents and warrants that the Securities (i) were not offered by any form of general solicitation
or general advertising and (ii) are not being offered in a manner involving a public offering under, or in a distribution in violation
of, the Securities Act, or any state securities laws.
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2.1.10 Subscriber
acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Securities. Subscriber has
such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment
in the Securities, and Subscriber has sought such accounting, legal and tax advice as Subscriber has considered necessary to make an
informed investment decision. Subscriber understands and acknowledges that it (i) is a sophisticated investor, experienced in investing
in equity transactions and capable of evaluating investment risks independently, both in general and with regard to all transactions
and investment strategies involving a security or securities and (ii) has exercised independent judgment in evaluating its participation
in the purchase of the Securities.
2.1.11 Subscriber
represents and acknowledges that Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of the investment in the Securities, has analyzed and fully considered the risks of an investment in the Securities
and determined that the Securities are a suitable investment for Subscriber and that Subscriber is able at this time and in the foreseeable
future to bear the economic risk of a total loss of Subscriber’s investment in the Company. Subscriber further acknowledges specifically
that a possibility of total loss of investment exists.
2.1.12 Subscriber
understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Securities or made
any findings or determination as to the fairness of this investment.
2.1.13 Subscriber
represents and warrants that Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals and Blocked
Persons, the Executive Order 13599 List, the Foreign Sanctions Evaders List, or the Sectoral Sanctions Identification List, each of which
is administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) or in any Executive
Order issued by the President of the United States and administered by OFAC (“OFAC List”), or a person or entity prohibited
by any OFAC sanctions program, (ii) owned or controlled by, or acting on behalf of, a person, that is named on an OFAC List; (iii) organized,
incorporated, established, located, resident or born in, or a citizen, national, or the government, including any political subdivision,
agency, or instrumentality thereof, of any country or territory embargoed or subject to substantial trade restrictions by the United
States; (iv) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (v) a non-U.S.
shell bank or providing banking services indirectly to a non-U.S. shell bank (collectively, a “Prohibited Investor”).
Subscriber agrees to provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided that
Subscriber is permitted to do so under applicable law. Subscriber represents that if it is a financial institution subject to the Bank
Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT
Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that Subscriber, directly
or indirectly through a third party administrator, maintains policies and procedures reasonably designed to comply with applicable obligations
under the BSA/PATRIOT Act. Subscriber also represents that, to the extent required, it, directly or indirectly through a third party
administrator, maintains policies and procedures reasonably designed for the screening of its investors against the OFAC sanctions programs,
including the OFAC List, and to otherwise ensure compliance with OFAC-administered sanctions programs. Subscriber further represents
and warrants that, to the extent required, it, directly or indirectly through a third-party administrator, maintains policies and procedures
reasonably designed to ensure that the funds held by Subscriber and used to purchase the Securities were legally derived.
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2.1.14 On
the date the Purchase Price will be required to be funded pursuant to Section 3.1, Subscriber will have sufficient immediately
available funds to pay the Purchase Price pursuant to Section 3.1.
2.1.15 Subscriber
represents that no disqualifying event described in Rule 506(d)(1)(i)-(viii) under the Securities Act (a “Disqualification
Event”) is applicable to Subscriber or any of its Rule 506(d) Related Parties (as defined below), except, if applicable,
for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Subscriber hereby agrees
that it shall notify the Company promptly in writing in the event a Disqualification Event becomes applicable to Subscriber or any of
its Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or
(iii) or (d)(3) is applicable. For purposes of this Section 2.1.15, “Rule 506(d) Related Party”
shall mean a person or entity that is a direct beneficial owner of Subscriber’s securities for purposes of Rule 506(d) under
the Securities Act.
2.1.16 No
broker, finder or other financial consultant has acted on behalf of Subscriber in connection with this Subscription Agreement or the
transactions contemplated hereby in such a way as to create any liability on the Company or Forge Nano.
2.1.17 Except
as expressly disclosed in a Schedule 13D or Schedule 13G (or amendments thereto) filed by such Subscriber with the Commission with respect
to the beneficial ownership of the equity securities of the SPAC prior to the date hereof, Subscriber is not currently (and at all times
through Closing will refrain from being or becoming) a member of a “group” (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any successor
provision) acting for the purpose of acquiring, holding or disposing of equity securities of the SPAC (within the meaning of Rule 13d-5(b)(1) under
the Exchange Act).
2.1.18 If
Subscriber is not a United States person as defined by Section 7701(a)(3) of the Internal Revenue Code of 1986, as amended
(any such subscriber, a “Foreign Purchaser”), then Subscriber acknowledges the potential for Forge Nano to be interpreted
to be a Technology, Infrastructure and Data business (“TID”) under definitions provided by U.S. Council on Foreign
Investment in the United States (“CFIUS”), and, assuming the accuracy of Company’s and Forge Nano’s representations,
warranties and agreements herein, the Subscriber does not and will not obtain any of the following rights, other than through the voting
of shares, as a result of the transaction under this Subscription Agreement:
(i) The
right to appoint a board member or observer. No such right shall be offered or obtained.
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(ii) Access
to material non-public technical information (as defined in 31 C.F.R. § 801.208) – includes information that “is
not available in the public domain and is necessary to design, fabricate, develop, test, produce, or manufacture a critical technology,
including processes, techniques, or methods.” The term does not include financial information regarding the performance of the
business. No such right shall be offered or obtained.
(iii) Involvement
in substantive decision making (as defined in 31 C.F.R §801.204) – captures a broad category of rights, including consulting
with a decision maker on significant matters. No such right shall be offered or obtained.
(A) “Involvement”
includes the right or ability to participate in decision making, including by (a) providing input into a final decision, (b) consulting
with or providing advice to a decision maker, (c) participating on a committee with decision making authority, (d) advising
on the appointment of officers or employees with substantive decision making authority, and (e) exercising special approval or veto
rights.
(B) “Substantive
decision making” means the process through which decisions regarding significant matters affecting an entity are undertaken, including,
with respect to (a) corporate strategy and business development, (b) supply arrangements, (c) research and development,
including location and budget allocation, (d) manufacturing locations, (e) access to critical technologies or material nonpublic
technical information, including pursuant to a customer, vendor, or joint venture agreement, (f) physical and cyber security protocols,
including the storage and protection of critical technologies, and (g) strategic partnerships.
2.2 Company’s
Representations, Warranties and Agreements. To induce Subscriber to purchase the Securities, the Company hereby represents and warrants
to Subscriber and agrees with Subscriber as follows:
2.2.1 The
Company is a Delaware corporation, duly formed, validly existing and in good standing under the Laws of the State of Delaware, with the
requisite corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and
to enter into, deliver and perform its obligations under this Subscription Agreement.
2.2.2 The
Securities have been duly authorized and, when issued and delivered to Subscriber against full payment for the Securities in accordance
with the terms of this Subscription Agreement, and registered with the Company’s transfer agent, the Securities will be validly
issued, fully paid, non-assessable and free and clear of any liens or other restrictions whatsoever (other than those arising under state
or federal securities laws or as set forth herein), and will not be issued in violation of or subject to any preemptive or similar rights
created under the Company’s organizational documents or any agreement or other instrument to which the Company is a party or by
which it is otherwise bound.
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2.2.3 This
Subscription Agreement has been duly authorized, executed and delivered by the Company and is a valid and binding obligation of the Company,
enforceable against it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.
2.2.4 The
execution, delivery and performance of this Subscription Agreement (including compliance by the Company with all of the provisions hereof),
the issuance and sale of the Securities and the consummation of the certain other transactions contemplated herein will not (i) conflict
with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation
or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company or any of its subsidiaries pursuant
to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the
Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property
or assets of the Company or any of its subsidiaries is subject, which would, individually or in the aggregate, reasonably be expected
to have a material adverse effect on the business, properties, assets, liabilities, operations, financial condition, prospects, stockholders’
equity or results of operations of the Company or any of its subsidiaries or materially and adversely affect the validity of the Securities
or the legal authority or ability of the Company to comply in all material respects with the terms of this Subscription Agreement (a
“Company Material Adverse Effect”); (ii) result in any violation of the provisions of the organizational documents
of the Company or any of its subsidiaries in any material respect; or (iii) result in any violation of any statute or any judgment,
order, rule or regulation of any Authority having jurisdiction over the Company or any of its subsidiaries or any of their respective
properties that would reasonably be expected to have a Company Material Adverse Effect.
2.2.5 Assuming
the accuracy of the representations and warranties of the Subscriber set forth in Section 2.1, the Company is not required to obtain
any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any Authority with competent
jurisdiction, self-regulatory organization (including the Nasdaq Stock Market, LLC (“Nasdaq”)) or other person in
connection with the execution, delivery and performance of this Subscription Agreement or the issuance of the Securities, other than
(i) filings required by applicable state securities laws, (ii) filings required by Antitrust Laws (iii) the filing of
the Registration Statement (as defined below) pursuant to Section 6, (iv) filings required by the Securities Act, the Exchange
Act, and the rules of the Commission, including Company’s registration statement on Form S-4 with respect to the Transaction
and the proxy statement/prospectus included therein (the “Form S-4”), (v) filings required by Nasdaq, including
with respect to obtaining approval of the Transaction by the stockholders of SPAC, (vi) filings required to consummate the Transaction
as provided under the Transaction Agreement, (vii) filings in connection with or as a result of any publicly available written guidance,
comments, requirements or requests of the staff of the Commission under the Securities Act and (viii) those the failure of which
to obtain would not have a Company Material Adverse Effect.
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2.2.6 Neither
the Company, nor any person acting on its behalf has, directly or indirectly, made any offers or sales of any Company security or solicited
any offers to buy any security, under circumstances that would adversely affect reliance by the Company on Section 4(a)(2) of
the Securities Act for the exemption from registration for the transactions contemplated hereby or would require registration of the
issuance or sale of the Securities under the Securities Act.
2.2.7 Neither
the Company nor any person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used
in Regulation D under the Securities Act) in connection with the offer or sale of any of the Securities and neither the Company, nor
any person acting on its behalf has offered any of the Securities in a manner involving any public offering under, or in a distribution
in violation of, the Securities Act or any state securities laws.
2.2.8 The
Company has not taken any steps to seek protection pursuant to any law or statute relating to bankruptcy, insolvency, reorganization,
receivership, liquidation, administration or winding up or failed to pay its debts when due, nor does the Company have any knowledge
or reason to believe that any of their respective creditors intend to initiate involuntary bankruptcy proceedings or seek to commence
an administration.
2.2.9 As
of the date hereof, except as set forth in the SEC Documents (as defined below), the Other Subscription Agreements, the Transaction Agreement
and any promissory notes issued by the SPAC’s sponsor or its affiliate to the SPAC for working capital purposes as described in
the SEC Documents (the “Sponsor Loans”), there are no outstanding options, warrants or other rights to subscribe for,
purchase or acquire from the Company any Common Stock or other equity interests in the Company, or securities convertible into or exchangeable
or exercisable for such equity interests. As of the date hereof, other than any subsidiary created for purposes of the Transaction, the
Company has no subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person,
whether incorporated or unincorporated. There are no stockholder agreements, voting trusts or other agreements or understandings to which
the Company is a party or by which it is bound relating to the voting of any securities of the Company, other than (A) as set forth
in the SPAC’s filings with the Commission, together with any amendments, restatements or supplements thereto (the “SEC
Documents”) and (B) as contemplated by the Transaction Agreement. Except as disclosed in the SEC Documents, the Company
has no outstanding indebtedness and will not have any outstanding long-term indebtedness as of immediately prior to the Closing (excluding
any Sponsor Loans).
2.2.10 Assuming
the accuracy of Subscriber’s representations and warranties set forth in this Subscription Agreement, no registration under the
Securities Act is required for the offer and sale of the Securities by the Company to Subscriber and the Securities are not being offered
in a manner involving a public offering under, or in a distribution in violation of, the Securities Act or any state securities laws.
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2.2.11 Except
as disclosed in the SEC Documents, the SPAC has made all filings required to be filed by it with the Commission and, as of their respective
dates, each of the SEC Documents complied in all material respects with the requirements of the Securities Act and the Exchange Act,
and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Documents, when filed, contained any
untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading; provided, that the Company makes no
such representation or warranty with respect to any information relating to Forge Nano or any of its affiliates included in any SEC Document
or filed as an exhibit thereto. Each of the financial statements of the SPAC included in the SEC Documents comply in all material respects
with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the
time of filing and fairly present in all material respects the financial position of the SPAC as of and for the dates thereof and the
results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit
adjustments. As of the date hereof, there are no outstanding or unresolved comments in comment letters from the Staff of the Commission
with respect to any of the SEC Documents.
2.2.12 Other
than the Other Subscription Agreements, the Transaction Agreement and any other agreement expressly contemplated by the Transaction Agreement,
neither the Company nor the SPAC has entered into any side letter or similar agreement with any Other Subscriber or any other investor
in connection with such Other Subscriber’s or investor’s investment in the Company. No Other Subscription Agreement includes
a price per Security different from this Subscription Agreement or other terms, rights or conditions that are more advantageous (economically
or otherwise) in any material respect to any such Other Subscriber than Subscriber hereunder, and such Other Subscription Agreements
have not been amended or modified in any material respect following the date of this Subscription Agreement in any manner that materially
benefits the Other Subscriber thereunder unless Subscriber has been granted the same benefits.
2.2.13 The
Company is not, and immediately after receipt of payment for the Securities will not be, an “investment company” within the
meaning of the Investment Company Act of 1940, as amended.
2.2.14 As
of the date of this Agreement the Company has not received any written communication from any Authority that alleges that the Company
is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation
would not, individually or in the aggregate, be reasonably expected to have a Company Material Adverse Effect.
2.2.15 Except
for such matters as have not had and would not be reasonably expected to have, individually or in the aggregate, a Company Material Adverse
Effect, there is no (i) action, claim, inquiry, arbitration, investigation, litigation or other proceeding pending, or, to the knowledge
of the Company, threatened against the Company or (ii) judgment, decree, injunction, ruling or order of any Authority outstanding
against the Company.
11
2.2.16 Except
for discussions specifically regarding the offer and sale of the Securities and the Investor Presentation, the Company confirms that
neither it nor any other person acting on its behalf has provided Subscriber or its agents or counsel with any information that constitutes
or could reasonably be expected to constitute material, nonpublic information concerning the Company, the SPAC or any of their subsidiaries,
other than with respect to the Transaction and the transactions contemplated by this Subscription Agreement or the Other Subscription
Agreements. Except with respect to the Transaction and the transactions contemplated by this Subscription Agreement and the Other Subscription
Agreements, no event or circumstance has occurred which, under applicable law, rule or regulation, requires public disclosure or
announcement by the Company but which has not been so publicly disclosed.
2.2.17 [Reserved].
2.2.18 With
respect to the distribution of information to Subscriber (if a Foreign Purchaser) or any Other Subscriber that are Foreign Purchasers,
the Company has and will comply with the regulations associated with the CFIUS. Without limiting the foregoing, the Company represents,
warrants and agrees that it has not provided and does not intend to provide and will take measure to prevent the provision to any Foreign
Purchasers any (i) access to any material non-public technical information (as defined in 31 C.F.R. §801.208) in the possession
of the Company, or (ii) involvement, other than through the voting of shares, in substantive decision-making of the Company regarding
the use, development, acquisition or release of critical technology (as defined in 31 C.F.R §801.204).
2.3 Forge
Nano’s Representations, Warranties and Agreements. To induce Subscriber to purchase the Securities, Forge Nano hereby represents
and warrants to Subscriber and agrees with Subscriber as follows:
2.3.1 Forge
Nano is a corporation duly incorporated, validly existing and in good standing under the Laws of the State of Delaware, with the requisite
corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into,
deliver and perform its obligations under this Subscription Agreement, except where the failure to have such power or authority would
not, individually or in the aggregate, reasonably be expected to have a Forge Nano Material Adverse Effect (as defined below).
2.3.2 This
Subscription Agreement has been duly authorized, executed and delivered by Forge Nano and is a valid and binding obligation of Forge
Nano, enforceable against it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally, and (ii) principles
of equity, whether considered at law or equity.
12
2.3.3 The
execution, delivery and performance of this Subscription Agreement (including compliance by Forge Nano with all of the provisions hereof),
the issuance and sale of the Securities and the consummation of the certain other transactions contemplated herein will not (i) conflict
with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation
or imposition of any lien, charge or encumbrance upon any of the property or assets of Forge Nano or any of its subsidiaries pursuant
to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which Forge
Nano or any of its subsidiaries is a party or by which Forge Nano or any of its subsidiaries is bound or to which any of the property
or assets of Forge Nano or any of its subsidiaries is subject, which would, individually or in the aggregate, reasonably be expected
to have a material adverse effect on the business, properties, assets, liabilities, operations, financial condition, prospects, stockholders’
equity or results of operations of Forge Nano or any of its subsidiaries or materially and adversely affect the validity of the Securities
or the legal authority or ability of Forge Nano to comply in all material respects with the terms of this Subscription Agreement (an
“Forge Nano Material Adverse Effect”); (ii) result in any violation of the provisions of the organizational documents
of Forge Nano or any of its subsidiaries which would, individually or in the aggregate, reasonably be expected to have a Forge Nano Material
Adverse Effect; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any Authority
having jurisdiction over Forge Nano or any of its subsidiaries or any of its properties that would reasonably be expected to have, individually
or in the aggregate, a Forge Nano Material Adverse Effect.
2.3.4 Neither
Forge Nano, nor any person acting on its behalf has, directly or indirectly, made any offers or sales of any Company security or solicited
any offers to buy any security, under circumstances that would adversely affect reliance by the Company on Section 4(a)(2) of
the Securities Act for the exemption from registration for the transactions contemplated hereby or would require registration of the
issuance or sale of the Securities under the Securities Act.
2.3.5 Neither
Forge Nano nor any person acting on its behalf has conducted any general solicitation or general advertising (as those terms are used
in Regulation D under the Securities Act) in connection with the offer or sale of any of the Securities and neither Forge Nano, nor any
person acting on its behalf has offered any of the Securities in a manner involving any public offering under, or in a distribution in
violation of, the Securities Act or any state securities laws.
2.3.6 Forge
Nano has not taken any steps to seek protection pursuant to any law or statute relating to bankruptcy, insolvency, reorganization, receivership,
liquidation, administration or winding up or failed to pay its debts when due, nor does Forge Nano have any knowledge or reason to believe
that any of their respective creditors intend to initiate involuntary bankruptcy proceedings or seek to commence an administration.
2.3.7 Assuming
the accuracy of Subscriber’s representations and warranties set forth in this Subscription Agreement, no registration under the
Securities Act is required for the offer and sale of the Securities and the Securities are not being offered in a manner involving a
public offering under, or in a distribution in violation of, the Securities Act or any state securities laws.
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2.3.8 Other
than the Initial Subscription Agreement and the Other Subscription Agreements, the Transaction Agreement and any other agreement expressly
contemplated by the Transaction Agreement, Forge Nano has not entered into any side letter or similar agreement with any Other Subscriber
or any other investor in connection with such Other Subscriber’s or investor’s investment in Forge Nano (in each case for
investments that will occur on or about the time of the Subscriber’s investment). Other than the Initial Subscription Agreement,
no Other Subscription Agreement includes a price per Security different from this Subscription Agreement or other terms, rights or conditions
that are more advantageous (economically or otherwise) in any material respect to any such Other Subscriber than Subscriber hereunder,
and such Other Subscription Agreements have not been amended or modified in any material respect following the date of this Subscription
Agreement in any manner that materially benefits the Other Subscriber thereunder unless Subscriber has been granted the same benefits.
2.3.9 Forge
Nano is not, and immediately after receipt of payment for the Securities will not be, an “investment company” within the
meaning of the Investment Company Act of 1940, as amended.
2.3.10 As
of the date of this Agreement, Forge Nano has not received any written communication from any Authority that alleges that Forge Nano
is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation
would not, individually or in the aggregate, be reasonably expected to have an Forge Nano Material Adverse Effect.
2.3.11 Except
for such matters as have not had and would not be reasonably expected to have, individually or in the aggregate, a Forge Nano Material
Adverse Effect as of the date of this Subscription Agreement, there is no (i) action, claim, inquiry, arbitration, investigation,
litigation or other proceeding pending, or, to the knowledge of Forge Nano, threatened against Forge Nano or (ii) judgment, decree,
injunction, ruling or order of any Authority outstanding against Forge Nano.
2.3.12 Except
for discussions specifically regarding the offer and sale of the Securities and the Investor Presentation, Forge Nano confirms that neither
it nor any other person acting on its behalf has provided Subscriber or its agents or counsel with any information that constitutes or
could reasonably be expected to constitute material, nonpublic information concerning Forge Nano or any of its subsidiaries, other than
with respect to the Transaction and the transactions contemplated by this Subscription Agreement or the Other Subscription Agreements.
Except with respect to the Transaction and the transactions contemplated by this Subscription Agreement and the Other Subscription Agreements,
no event or circumstance has occurred which, under applicable law, rule or regulation, requires public disclosure at or before the
date hereof or announcement by Forge Nano but which has not been so publicly disclosed.
14
2.3.13 With
respect to the distribution of information to Subscriber (if a Foreign Purchaser) or any Other Subscriber that are Foreign Purchasers,
Forge Nano has and will comply with the regulations associated with the CFIUS. Without limiting the foregoing, Forge Nano represents,
warrants and agrees that it has not provided and does not intend to provide and will take measure to prevent the provision to any Foreign
Purchasers any (i) access to any material non-public technical information (as defined in 31 C.F.R. §801.208) in the possession
of Forge Nano, or (ii) involvement, other than through the voting of shares, in substantive decision-making of Forge Nano regarding
the use, development, acquisition or release of critical technology (as defined in 31 C.F.R §801.204).
3.
Settlement Date and Delivery.
3.1 Closing.
The closing of the Subscription contemplated hereby (the “Closing”) is contingent upon the substantially concurrent
consummation of the Transaction, as provided for by the Transaction Agreement. The Closing shall occur on the closing date of, and immediately
prior to, or simultaneously with, the consummation of the Transaction. Upon written notice from (or on behalf of) the Company to Subscriber
(the “Notice”) that the Company reasonably expects the closing of the Transaction to take place on a date that is
not less than five (5) business days from the date of the Notice, Subscriber shall deliver to the Company, not less than two (2) business
days prior to the scheduled closing date specified in the Notice (the “Scheduled Closing Date”), to be held in escrow
until the Closing, the Purchase Price for the Securities by wire transfer of United States dollars in immediately available funds to
the account specified by the Company in the Notice, which at the Closing will be released to the Company against delivery by the Company
promptly after the Closing to Subscriber of the Securities in book-entry form (or in certificated form if indicated by Subscriber on
Subscriber’s signature page hereto), free and clear of any liens or other restrictions (other than those arising under this
Subscription Agreement or applicable securities laws). Not later than one (1) business day after the Closing, the Company shall
deliver to Subscriber the Securities in book entry form, in the name of Subscriber (or its nominee in accordance with its delivery instructions)
or to a custodian designated by Subscriber, as applicable. In the event the Closing does not occur within five (5) business days
of the Scheduled Closing Date, the Company shall promptly (but not later than two (2) business days thereafter) return the Purchase
Price to Subscriber by wire transfer of U.S. dollars in immediately available funds to the account specified by Subscriber, and any book-entries
for the Securities shall be deemed repurchased and cancelled. Unless this Subscription Agreement is terminated pursuant to Section 5
below, the failure of the Closing to occur on or after the Scheduled Closing Date shall not terminate this Subscription Agreement or
otherwise relieve any party of any of its obligations hereunder. For purposes of this Subscription Agreement, “business day”
means any day that, in New York, New York, is neither a legal holiday nor a day on which commercial banking institutions are generally
authorized or required by law or regulation to close (excluding as a result of “stay at home”, “shelter-in-place”,
“non-essential employee” or any other similar orders or restrictions or the closure of any physical branch locations at the
direction of any governmental authority so long as the electronic funds transfer systems, including for wire transfers, of commercial
banking institutions in New York, New York are generally open for use by customers on such day).
15
3.2 Conditions
to Closing.
3.2.1 The
Closing shall be subject to the satisfaction or valid waiver by the Company and Forge Nano, on the one hand, or Subscriber, on the other,
of the conditions that, on the Closing Date:
(i) No
Authority shall have enacted, issued, promulgated, enforced or entered any law, rule, regulation, judgment, decree, executive order or
award (whether temporary preliminary or permanent) which is then in effect and has the effect of making the transactions contemplated
hereby illegal or otherwise prohibiting or enjoining the consummation of the transactions contemplated hereby.
(ii) Transaction
Closing shall be substantially concurrent with the Closing.
3.2.2 The
Closing shall also be subject to the satisfaction or valid waiver by the Subscriber of the conditions that, on the Closing Date:
(i) The
Company and Forge Nano shall have performed, satisfied and complied in all material respects with all agreements, conditions and covenants
required by this Subscription Agreement to be performed by the Company or Forge Nano at or prior to the Closing.
(ii) All
representations and warranties of Company and Forge Nano contained in this Subscription Agreement shall be true and correct in all material
respects (other than representations and warranties that are qualified as to materiality or Company Material Adverse Effect or Forge
Nano Material Adverse Effect, as applicable, which representations and warranties shall be true in all respects) at and as of the Closing
Date (except for representations and warranties made as of a specific date, which shall be true and correct in all material respects
(other than representations and warranties that are qualified as to materiality or Company Material Adverse Effect or Forge Nano Material
Adverse Effect, as applicable, which representations and warranties shall be true in all respects) as of such date), and consummation
of the Closing shall constitute a reaffirmation by the Company and Forge Nano of each of the representations, warranties and agreements
of the Company and Forge Nano contained in this Subscription Agreement as of the Closing Date.
(iii) The
Company shall have filed with Nasdaq an application or for the listing of the Securities and Nasdaq shall have raised no objection with
respect thereto, subject to official notice of issuance.
(iv) Other
than with respect to the Initial Subscription Agreement, there shall have been no amendment, waiver or modification to the Other Subscription
Agreements that materially benefits (economically or otherwise) the Other Subscribers thereunder unless this Subscription Agreement shall
have been amended to reflect the same terms.
16
(v) No
suspension of the qualification of the Securities for offering or sale or trading of the Common Stock on the Nasdaq shall have occurred
and be continuing.
(vi) No
amendments, modifications or waivers to the terms of the Transaction Agreement (as it exists on the date hereof as provided to Subscriber)
shall have occurred, in each case, in a manner that would reasonably be expected to materially and adversely affect the economic benefits
that Subscriber would reasonably expect to receive under this Subscription Agreement (unless Subscriber has provided its written consent
thereto).
3.2.3 The
Closing shall also be subject to the satisfaction or valid waiver by each of the Company and Forge Nano of the conditions that, on the
Closing Date:
(i) Subscriber
shall have performed, satisfied and complied in all material respects with all agreements, conditions and covenants required by this
Subscription Agreement to be performed by Subscriber at or prior to the Closing.
(ii) All
representations and warranties of Subscriber contained in this Subscription Agreement shall be true and correct in all material respects
(other than representations and warranties that are qualified as to materiality or Subscriber Material Adverse Effect, which representations
and warranties shall be true in all respects) at and as of the Closing Date (except for representations and warranties made as of a specific
date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality
or Subscriber Material Adverse Effect, which representations and warranties shall be true in all respects) as of such date), and consummation
of the Closing shall constitute a reaffirmation by the Subscriber of each of the representations, warranties and agreements of the Subscriber
contained in this Subscription Agreement as of the Closing Date.
4. Transfer
Restrictions.
4.1 After
the Closing, the Securities may only be resold, transferred, pledged or otherwise disposed of in compliance with state and federal securities
laws and pursuant to an effective registration statement, Rule 144 under the Securities Act (“Rule 144”)
or pursuant to another applicable exemption from the registration requirements of the Securities Act, to the Company or to an affiliate
of Subscriber. As a condition of transfer (other than pursuant to an effective registration statement pursuant to Rule 144 or pursuant
to another applicable exemption from the registration requirements of the Securities Act), any such transferee shall agree in writing
to be bound by the terms of this Subscription Agreement and shall have the rights and obligations of Subscriber under this Agreement.
4.2 Notwithstanding
anything to the contrary, the Company and Forge Nano acknowledge that the Securities may be pledged by Subscriber in connection with
a bona fide margin agreement, which shall not be deemed to be a transfer, sale or assignment of the Securities hereunder, and Subscriber
effecting a pledge of the Securities shall not be required to provide the Company or Forge Nano with any notice thereof; provided, however,
that neither the Company nor its counsel shall be required to take any action (or refrain from taking any action) in connection with
any such pledge, other than providing any such lender of such margin agreement with an acknowledgment that the Securities are not subject
to any contractual lock up or prohibition on pledging, the form of such acknowledgment to be reasonably acceptable to the Company in
all respects; provided further that the Subscriber and its pledgee shall be required to comply with other provisions of this Section 4
in order to effect a sale, transfer or assignment of Securities to a pledgee.
17
4.3 Subject
to applicable requirements of the Securities Act and the interpretations of the Commission thereunder and any requirements of the Company’s
transfer agent, the Company shall use commercially reasonable efforts to ensure that instruments, whether certificated or uncertificated,
evidencing the Securities shall not contain any legend (including the legend set forth in Section 4.4 below) (i) following
any sale of such Securities pursuant to Rule 144, (ii) if such Securities are eligible for sale under Rule 144 without
the requirement for the Company to be in compliance with the current public information required under Rule 144 (including under
Rule 144(i)) and without volume or manner-of-sale restrictions, and in each case, Subscriber provides the Company with an undertaking
to effect any sales or other transfers in accordance with the Securities Act, or (iii) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission).
4.4 Subscriber
agrees to the imprinting, so long as is required by this Section 4, of a legend on any of the Securities in the following
form:
THIS SECURITY HAS NOT BEEN
REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN
A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS.
4.5 [Reserved].
4.6 The
Company will use its commercially reasonable efforts to make all Securities eligible on the Direct Registration System of the Depository
Trust Company so that Subscriber can, subject to Section 4.3, move shares to respective prime broker accounts and sell without restriction.
18
5. Termination.
Except for the provisions of Sections 5, 7, 8 and 9 and the provisions of this Agreement providing for the return of funds previously
delivered in the event the Closing does not occur, all of which shall survive any termination hereunder, this Subscription Agreement
shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate
without any further liability on the part of any party in respect thereof, upon the earliest to occur of (i) such date and time
as the Transaction Agreement is terminated in accordance with its terms, (ii) upon the mutual written agreement of each of the parties
hereto to terminate this Subscription Agreement, (iii) at the election of Subscriber, if the Closing shall not have occurred on
or before the Outside Date (as defined in the Transaction Agreement), or (iv) if any of the conditions to Closing set forth in Section 3.2
are not satisfied on or prior to the Closing Date and, as a result thereof, the transactions contemplated by this Subscription Agreement
are not consummated at the Closing; provided, that, subject to the limitations set forth in Section 8, nothing herein will relieve
any party from liability for any willful breach hereof prior to the time of termination, and each party will be entitled to any remedies
at law or in equity to recover losses, liabilities or damages arising from such breach. The Company shall notify Subscriber of the termination
of the Transaction Agreement promptly after the termination of such agreement. Upon the termination hereof in accordance with this Section 5,
any monies paid by Subscriber to the Company in connection herewith shall promptly (and in any event within two (2) business days)
be returned in full to Subscriber by wire transfer of U.S. dollars in immediately available funds to the account specified by Subscriber,
without any deduction for or on account of any tax withholding except as required by law, charges or set-off, whether or not the Transactions
shall have been consummated.
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6. Registration
Rights.
6.1 The
Company agrees that within thirty (30) days after the Closing Date, the Company will file with the Commission (at the Company’s
sole cost and expense) a registration statement to register under and in accordance with the provisions of the Securities Act, the resale
of all of the Registrable Securities (as defined below) on Form S-3 or Form S-1 (which in either case shall be filed pursuant
to Rule 415 under the Securities Act as a secondary-only registration statement), which shall be on Form S-3 if the Company
is then eligible for such short form, or any similar or successor short form registration or, if the Company is not then eligible for
such short form registration or would not be able to register for resale all of the Registrable Securities on Form S-3, on Form S-1
or any similar or successor long form registration (the “Registration Statement”). The Company will provide a draft
of the Registration Statement to Subscriber for review at least two (2) business days in advance of the filing the Registration
Statement, and shall advise Subscriber promptly upon the Registration Statement being declared effective by the Commission. The Company
shall use its commercially reasonable efforts to have the Registration Statement declared effective by the Commission as soon as practicable
after the filing thereof, but no later than the earlier of (i) sixty (60) calendar days (or ninety (90) calendar days if the Commission
notifies the Company that it will “review” the Registration Statement) following the Closing Date and (ii) the fifth
(5th) business day after the date the Company is notified in writing by the Commission that the Registration Statement will
not be “reviewed” or will not be subject to further review (such earlier date, the “Effectiveness Deadline”);
provided, however, that the Company’s obligations to include the Registrable Securities of Subscriber in the Registration Statement
are contingent upon Subscriber furnishing in writing to the Company such information regarding Subscriber, the securities of the Company
held by Subscriber and the intended method of disposition of the Registrable Securities as shall be reasonably requested by the Company
to effect the registration of the Registrable Securities, and Subscriber shall execute such documents in connection with such registration
as the Company may reasonably request that are customary of a selling shareholder in similar situations. Notwithstanding the foregoing,
if the Commission prevents the Company from including any or all of the Common Stock proposed to be registered under the Registration
Statement due to limitations on the use of Rule 415 under the Securities Act for the resale of the Registrable Securities by the
Subscribers or otherwise, the Company shall use its best efforts to ensure that the Commission determines that the offering contemplated
by the Registration Statement is a bona fide secondary offering and not an offering “by or on behalf of the issuer” as defined
in Rule 415 of the Securities Act. If the Company is unsuccessful in the efforts described in the preceding sentence then the Company
shall cause such Registration Statement to register for resale such number of Registrable Securities which is equal to the maximum number
of Common Stock as is permitted by the Commission. In such event, the number of Registrable Securities to be registered for each selling
shareholder named in the Registration Statement shall be reduced pro rata among all such selling shareholders and as promptly as practicable
after being permitted to register additional Securities under Rule 415 under the Securities Act, the Company shall amend the Registration
Statement or file a new Registration Statement to register such additional Registrable Securities that were not included in the initial
Registration Statement and cause such amendment or Registration Statement to become effective as promptly as practicable. In no event
shall the Subscriber be identified as a statutory underwriter in the Registration Statement unless requested by the Commission; provided,
that if the Commission requests that the Subscriber be identified as a statutory underwriter in the Registration Statement, the Subscriber
will have the option, in its sole and absolute discretion, to either (i) have an opportunity to withdraw from the Registration Statement,
in which case the Company’s obligation to register the Subscriber’s Registrable Securities will be deemed satisfied, or (ii) be
included as such in the Registration Statement. The Company will use its commercially reasonable efforts to maintain the continuous effectiveness
of the Registration Statement until the earliest of (x) such time as when all of Subscriber’s securities included therein
cease to be Registrable Securities, (y) such time as when all of Subscriber’s Registrable Securities (as defined below) included
in such Registration Statement have actually been sold and (z) three years from the Closing Date. The Company will use its commercially
reasonable efforts to cause the removal of all restrictive legends from any Registrable Securities being sold under the Registration
Statement at the time of sale of such Registrable Securities upon the receipt from the Subscriber of such supporting documentation, if
any, as requested by the Company. The Company will use commercially reasonable efforts to file all reports, and provide all customary
and reasonable cooperation, reasonably necessary to enable Subscriber to resell Registrable Securities pursuant to the Registration Statement
and Rule 144, qualify the Registrable Securities for listing on the applicable stock exchange and update or amend the Registration
Statement as necessary to include Registrable Securities. “Registrable Securities” shall mean, as of any date of determination,
the Securities and any other equity security issued or issuable with respect to the Securities by way of share split, dividend, distribution,
recapitalization, merger, exchange, replacement or similar event, provided, however, that such securities shall cease to be Registrable
Securities at the earliest of (A) three (3) years after the Closing Date, (B) the date all Securities held by Subscriber
may be sold by Subscriber without volume or manner of sale limitations pursuant to Rule 144 and without the requirement for the
Company to be in compliance with the current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable),
(C) the date on which such securities have actually been sold by Subscriber, or (D) when such securities shall have ceased
to be outstanding. Notwithstanding the foregoing, Subscriber shall not be required to sign any form of lock-up agreement in connection
with the Registration Statement. Subscriber may deliver written notice (an “Opt-Out Notice”) to the Company requesting
that Subscriber not receive notices from the Company otherwise required by this Section 6.1; provided, however, that Subscriber
may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from Subscriber (unless subsequently revoked),
(i) the Company shall not deliver any such notices to Subscriber and Subscriber shall no longer be entitled to the rights associated
with any such notice and (ii) Subscriber will notify the Company in writing at least three (3) business days in advance of
each intended use of an effective Registration Statement, and if a notice of a Suspension Event (as defined below) was previously delivered
(or would have been delivered but for the provisions of this Section 6.1) and the related suspension period remains in effect, the
Company will so notify Subscriber, within two (2) business days after Subscriber’s notification to the Company, by delivering
to Subscriber a copy of such previous notice of Suspension Event, and thereafter will provide Subscriber with the related notice of the
conclusion of such Suspension Event promptly following its availability.
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6.2 At
its expense the Company shall:
6.2.1 except
for such times as the Company is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use
its commercially reasonable efforts to keep such registration, and any qualification, exemption or compliance under state securities
laws that the Company determines to obtain in connection with such registration, continuously effective with respect to Subscriber, and
to keep the applicable Registration Statement or any subsequent shelf registration statement free of any material misstatements or omissions,
until all Securities acquired by Subscriber hereunder cease to be Registrable Securities or such shorter period upon which Subscriber
has notified the Company that such Registrable Securities have actually been sold, or otherwise when such Registration Statement is no
longer required to be effective under this Section 6;
6.2.2 subject
to an Opt-Out Notice, advise Subscriber within three (3) business days: (A) of the issuance by the Commission of any stop order
suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; (B) of the receipt
by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities included therein
for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and (C) subject to the provisions
in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any Registration Statement
or prospectus included therein so that, as of such date, the statements therein are not misleading and do not omit to state a material
fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances
under which they were made) not misleading. Notwithstanding anything to the contrary set forth herein, the Company shall not, when so
advising Subscriber of such events, provide Subscriber with any material, nonpublic information regarding the Company other than to the
extent that providing notice to Subscriber of the occurrence of the events listed in (A) through (C) above constitutes material,
nonpublic information regarding the Company;
21
6.2.3 use
its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement
as promptly as reasonably practicable;
6.2.4 upon
the occurrence of any event contemplated in Section 6.2.2, except for such times as the Company is permitted hereunder to suspend,
and has suspended, the use of a prospectus forming part of a Registration Statement, the Company shall use its commercially reasonable
efforts to as promptly as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement to
the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities
included therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading;
6.2.5 use
its commercially reasonable efforts to cause all Securities to be listed on each securities exchange or market, if any, on which the
Common Stock issued by the Company have been listed; and
6.2.6 use
its commercially reasonable efforts to take all other steps necessary to effect the registration of the Registrable Securities contemplated
hereby.
22
6.3 Notwithstanding
anything to the contrary in this Subscription Agreement, the Company shall be entitled to delay or postpone the effectiveness of the
Registration Statement, and from time to time to require Subscriber not to sell under the Registration Statement or to suspend the effectiveness
thereof, (i) if any information (e.g., compensation data) is not readily available and the non-disclosure of which in the Registration
Statement would be expected, in the reasonable determination of the Company’s board of directors, upon the advice of external legal
counsel, to cause the Registration Statement to fail to comply with applicable disclosure requirements, (ii) at any time the Company
is required to file a post-effective amendment to the Registration Statement and the Commission has not declared such amendment effective
or (iii) if the negotiation or consummation of a transaction by the Company or its subsidiaries is pending or an event has occurred,
which negotiation, consummation or event, the Company’s board of directors reasonably believes, upon the advice of external legal
counsel, would require additional disclosure by the Company in the Registration Statement of material non-public information that the
Company has a bona fide business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would
be expected, in the reasonable determination of the Company’s board of directors, upon the advice of external legal counsel, to
cause the Registration Statement to fail to comply with applicable disclosure requirements (each such circumstance, a “Suspension
Event”); provided, however, the Company shall not so delay filing or so suspend the use of the Registration Statement on more
than two (2) occasions or for a period of more than sixty (60) consecutive days or more than a total of ninety (90) calendar days,
in each case in any three hundred sixty (360) day period. Upon receipt of any written notice from the Company of the happening of any
Suspension Event during the period that the Registration Statement is effective or if as a result of a Suspension Event the Registration
Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made (in the case of the
prospectus) not misleading, Subscriber agrees that (i) it will immediately discontinue offers and sales of the Registrable Securities
under the Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until such Subscriber
receives copies of a supplemental or amended prospectus (which the Company agrees to promptly prepare after the completion of the Suspension
Event) that corrects the misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment
has become effective or unless otherwise notified by the Company that it may resume such offers and sales, and (ii) it will maintain
the confidentiality of any information included in such written notice delivered by the Company unless otherwise required by law or subpoena.
If so directed by the Company, Subscriber will deliver to the Company or, in such Subscriber’s sole discretion destroy, all copies
of the prospectus covering the Registrable Securities in such Subscriber’s possession; provided, however, that this obligation
to deliver or destroy all copies of the prospectus covering the Registrable Securities shall not apply (i) to the extent such Subscriber
is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory or professional
requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored electronically
on archival servers as a result of automatic data back-up.
6.4 The
Company shall indemnify, defend and hold harmless Subscriber (to the extent a seller under the Registration Statement), and any of its
officers, directors, agents, partners, members, stockholders, affiliates, managers, investment advisers and employees, and each person
who controls Subscriber (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the
officers, directors, members, managers, partners, agents and employees of each such controlling person, to the fullest extent permitted
by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including reasonable out-of-pocket external
attorneys’ fees and expenses incurred in connection with defending or investigating any such action or claim) and expenses (collectively,
“Losses”), as incurred, that arise out of or are based upon any untrue or alleged untrue statement of a material fact
contained in the Registration Statement, any prospectus included in the Registration Statement or any form of prospectus or in any amendment
or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a
material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus
or supplement thereto, in the light of the circumstances under which they were made) not misleading, except insofar as and to the extent,
but only to the extent, that such untrue statements, alleged untrue statements, omissions or alleged omissions are based upon information
regarding Subscriber furnished in writing to the Company by such Subscriber expressly for use therein in connection with the registration
of the Common Stock; provided, however, that the indemnification contained in this Section 6 shall not apply to amounts paid in
settlement of any Losses if such settlement is effected without the consent of the Company, nor shall the Company be liable for any Losses
to the extent they arise out of or are based upon a violation which occurs (A) in reliance upon and in conformity with written information
furnished by such Subscriber, (B) in connection with any failure of such person to deliver or cause to be delivered a prospectus
made available by the Company in a timely manner, (C) as a result of offers or sales effected by or on behalf of any person by means
of a “free writing prospectus” (as defined in Rule 405 under the Securities Act) that was not authorized in writing
by the Company, or (D) in connection with any offers or sales effected by or on behalf of such Subscriber in violation of Section 6.3
hereof. Subscriber shall notify the Company promptly of the institution of any proceeding arising from or in connection with the transactions
contemplated by this Section 6 of which Subscriber becomes aware, provided that a failure by Subscriber to provide such notice shall
not impact Subscriber’s right to be indemnified hereunder unless the Company is actually prejudiced thereby. Such indemnity shall
remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive the transfer
of the Securities by Subscriber.
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6.5 Subscriber
shall (severally and not jointly with any Other Subscriber) indemnify and hold harmless the Company, its directors, officers, agents
and employees, and each person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20
of the Exchange Act), to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or
are based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any prospectus included
in the Registration Statement, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus,
or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make
the statements therein (in the case of any prospectus, or any form of prospectus or supplement thereto, in light of the circumstances
under which they were made) not misleading to the extent, but only to the extent, that such untrue statements or omissions are based
solely upon information regarding Subscriber furnished in writing to the Company by Subscriber expressly for use therein; provided, however,
that the indemnification contained in this Section 6 shall not apply to amounts paid in settlement of any Losses if such settlement
is effected without the consent of Subscriber. In no event shall the liability of Subscriber be greater in amount than the dollar amount
of the net proceeds received by Subscriber upon the sale of the Registrable Securities giving rise to such indemnification obligation.
The Company shall notify Subscriber promptly of the institution of any proceeding arising from or in connection with the transactions
contemplated by this Section 6 of which the Company becomes aware, provided that a failure by the Company to provide such notice
shall not impact the Company’s right to be indemnified hereunder unless Subscriber is actually prejudiced thereby. Such indemnity
shall remain in full force and effect regardless of any investigation made by or on behalf of an indemnified party and shall survive
the transfer of the Securities by Subscriber.
6.6 If
the indemnification provided under this Section 6 from the indemnifying party is unavailable or insufficient to hold harmless an
indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party,
in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of
such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party
and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or relates to information
supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative
intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or payable by a party as
a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in this
Section 6, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or
proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall
be entitled to contribution pursuant to this Section 6 from any person who was not guilty of such fraudulent misrepresentation.
Each indemnifying party’s obligation to make a contribution pursuant to this Section 6.6 shall be individual, not joint and
several, and in no event shall the liability of Subscriber hereunder be greater in amount than the dollar amount of the net proceeds
received by Subscriber upon the sale of the Registrable Securities giving rise to such indemnification obligation.
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7. Miscellaneous.
7.1 Further
Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional actions
as the parties reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated by this Subscription
Agreement.
7.1.1 Subscriber
acknowledges that the Company, Forge Nano and others will rely on the acknowledgments, understandings, agreements, representations and
warranties contained in this Subscription Agreement. Subscriber agrees to promptly notify the Company and Forge Nano if any of the acknowledgments,
understandings, agreements, representations and warranties made by Subscriber set forth herein are no longer accurate in all material
respects.
7.1.2 Each
of the Company, Forge Nano and Subscriber is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce
this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with
respect to the matters covered hereby, in each case, to the extent required by applicable law.
7.1.3 The
Company may request from Subscriber such additional information as the Company may deem reasonably necessary to evaluate the eligibility
of Subscriber to acquire the Securities, and Subscriber shall use reasonable best efforts to promptly provide such information as may
be reasonably requested, to the extent readily available and to the extent consistent with its internal policies and procedures, provided
that the Company agrees to keep confidential any such information provided by Subscriber.
7.2 Notices.
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or sent by overnight
mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed to be given and
received (a) when so delivered personally, (b) when sent, with affirmative confirmation of receipt, if sent by email, (c) one
(1) business day after being sent, if sent by reputable, internationally recognized overnight courier service or (d) three
(3) business days after the date of mailing by registered or certified mail (prepaid and return receipt requested), in any case,
to the address below or to such other address or addresses as such person may hereafter designate by notice given hereunder:
(i) if
to Subscriber, to such address or addresses set forth on the signature page hereto;
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(ii) if
to the Company (prior to the Closing), to:
ATII Holdings Inc.
2093 Philadelphia Pike #1968
Claymont, DE 19703
Attn: Long Long, CEO
E-mail: [***********]
with a required copy to (which copy shall not constitute
notice):
Loeb & Loeb LLP
345 Park Avenue, 19th Floor
New York, NY 10154
Attention: Giovanni Caruso
E-mail: [***********]
(iii) if
to Forge Nano, to:
Forge Nano, Inc.
12300 Grant Street, Suite 110
Thornton, CO 80241
Attn: Michael Kleinberg
Telephone No.: [***********]
E-mail: [***********]
with a required copy to (which copy shall not constitute
notice):
Paul, Weiss, Rifkind, Wharton & Garrison LLP
1285 Avenue of the Americas
New York, NY 10019-6064
Attn: Ben Goodchild
Telephone No.: [***********]
E-mail: [***********]
(iv) if
to the Company (following the Closing), to:
Forge Nano Holdings Inc.
12300 Grant Street, Suite 110
Thornton, CO 80241
Attn: Michael Kleinberg
Telephone No.: [***********]
E-mail: [***********]
with a required copy to (which copy shall not constitute
notice):
Paul, Weiss, Rifkind, Wharton & Garrison LLP
1285 Avenue of the Americas
New York, NY 10019-6064
Attn: Ben Goodchild
Telephone No.: [***********]
E-mail: [***********]
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7.3 Entire
Agreement. This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings,
representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof (other than any confidentiality
agreement entered into by the Company and Subscriber in connection with the Offering).
7.4 Modifications
and Amendments. This Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed
by the parties hereto.
7.5 Waivers
and Consents. The terms and provisions of this Subscription Agreement may be waived, or consent for the departure therefrom granted,
only by a written document executed by the party against whom enforcement of such waiver or consent is sought. No such waiver or consent
shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Subscription Agreement,
whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it
was given, and shall not constitute a continuing waiver or consent. No failure or delay by a party hereto in exercising any right, power
or remedy under this Subscription Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such
right, power or remedy of such party. No single or partial exercise of any right, power or remedy under this Subscription Agreement by
a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party
from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy
by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand
on a party not expressly required under this Subscription Agreement shall entitle the party receiving such notice or demand to any other
or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or
demand to any other or further action in any circumstances without such notice or demand.
7.6 Assignment.
Neither this Subscription Agreement nor any rights, interests or obligations that may accrue to the Subscriber hereunder (other than
the Securities acquired hereunder by Subscriber, if any, after the Closing) may be transferred or assigned without the prior written
consent of the Company, and any purported transfer or assignment without such consent shall be null and void ab initio; provided,
however, Subscriber may transfer or assign its rights, interests and obligations hereunder to a controlled affiliate of Subscriber
or another investment fund or account managed or advised by the same manager as Subscriber (or a related party or affiliate) that can
satisfy the requirements of Section 2.1.4 and the other representations and warranties in Section 2.1; provided, further,
that no such transfer or assignment without the prior express written consent of the Company shall release Subscriber of its obligations
hereunder and such transferee(s) or assignee(s), as applicable, agrees in writing to be bound by the terms hereof as if it were
the original Subscriber party hereto.
7.7 Benefit.
Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto
and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations,
warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors,
administrators, successors, legal representatives and permitted assigns. Except as expressly provided for herein, this Subscription Agreement
shall not confer rights or remedies upon any person other than the parties hereto and their respective successors and permitted assigns.
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7.8 Governing
Law. This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this Subscription
Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution, performance or enforcement
of this Subscription Agreement, shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to the principles of conflicts of law thereof.
7.9 Consent
to Jurisdiction; Waiver of Jury Trial. The parties hereto agree to submit any matter or dispute resulting from or arising out of
the execution, performance, interpretation, breach or termination of this Agreement to the exclusive jurisdiction of federal or state
courts within the County of New York, State of New York (and any appellate courts thereof) (the “Specified Courts”).
Each of the parties agrees that service of any process, summons, notice or document in the manner set forth in Section 7.2 hereof
or in such other manner as may be permitted by applicable law, shall be effective service of process for any proceeding with respect
to any matters to which it has submitted to jurisdiction in this Section 7.9. Each of the parties hereto irrevocably and unconditionally
agrees that it is subject to, and hereby submits to, the personal jurisdiction of the Specified Courts for any action, suit or proceeding
arising out of this Subscription Agreement or the transactions contemplated hereunder and waives any objection to the laying of venue
in the Specified Courts (the United States District Court for the Southern District of New York, or the applicable New York state courts
if the federal jurisdictional standards are not satisfied), and hereby further irrevocably and unconditionally waives and agrees not
to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient
forum. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ITS RIGHTS TO A TRIAL BY JURY.
7.10 Non-Reliance
and Exculpation. Subscriber acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty
made by any person other than the statements, representations and warranties of the Company expressly contained in Section 2.2 of
this Subscription Agreement, in making its investment or decision to invest in the Company. Subscriber further acknowledges and agrees
that no Other Subscriber pursuant to Other Subscription Agreements (including the controlling persons, members, officers, directors,
partners, agents, employees or other representatives of any such Other Subscriber) shall be liable to Subscriber pursuant to this Subscription
Agreement for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Securities.
7.11 Severability.
If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability
of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in
full force and effect. Upon such determination that any provision is invalid, illegal or unenforceable, the parties will substitute for
any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out so far as may be valid, legal and
enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.
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7.12 Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Subscription Agreement or
in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the Closing until the expiration
of any statute of limitations under applicable law.
7.13 Expenses.
Each of the parties hereto shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated
herein.
7.14 Headings
and Captions. The headings and captions of the various subdivisions of this Subscription Agreement are for convenience of reference
only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.
7.15 Counterparts.
This Subscription Agreement may be executed in one or more counterparts (including by facsimile or electronic mail or in .pdf), all of
which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed
by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event
that any signature is delivered by facsimile transmission or any other form of electronic delivery, such signature shall create a valid
and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such
signature page were an original thereof.
7.16 Construction.
The words “include,” “includes,” and “including” will be deemed to be followed
by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other
gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires.
The words “this Subscription Agreement,” “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import refer to this Subscription Agreement as a whole and not to any particular
subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein
will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any
respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto
is in breach of the first representation, warranty, or covenant. All references in this Subscription Agreement to numbers of shares,
per share amounts and purchase prices shall be appropriately adjusted to reflect any stock split, stock dividend, stock combination,
recapitalization or the like occurring after the date hereof. As used in this Subscription Agreement, the term: (x) “person”
shall refer to any individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind; and (y) “affiliate”
shall mean, with respect to any specified person, any other person or group of persons acting together that, directly or indirectly,
through one or more intermediaries controls, is controlled by or is under common control with such specified person (where the term “control”
(and any correlative terms) means the possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of such person, whether through the ownership of voting securities, by contract or otherwise).
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7.17 Mutual
Drafting. This Subscription Agreement is the joint product of Subscriber, the Company and Forge Nano and each provision hereof has
been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party
hereto.
7.18 Remedies.
7.18.1 The
parties agree that irreparable damage would occur if this Subscription Agreement was not performed in accordance with its specific terms
or was otherwise breached and that money damages or other legal remedies would not be an adequate remedy for any such damage. It is accordingly
agreed that the parties hereto shall be entitled to equitable relief, including in the form of an injunction or injunctions, to prevent
breaches or threatened breaches of this Subscription Agreement and to enforce specifically the terms and provisions of this Subscription
Agreement in an appropriate court of competent jurisdiction as set forth in Section 7.9, this being in addition to any other remedy
to which any party is entitled at law or in equity, including money damages. The right to specific enforcement shall include the right
of the parties hereto to cause to cause the other parties hereto to cause the transactions contemplated hereby to be consummated on the
terms and subject to the conditions and limitations set forth in this Subscription Agreement. The parties hereto further agree (i) to
waive any requirement for the security or posting of any bond in connection with any such equitable remedy, (ii) not to assert that
a remedy of specific enforcement pursuant to this Section 7.18 is unenforceable, invalid, contrary to applicable law or inequitable
for any reason and (iii) to waive any defenses in any action for specific performance, including the defense that a remedy at law
would be adequate.
7.18.2 The
parties acknowledge and agree that this Section 7.18 is an integral part of the transactions contemplated hereby and without that
right, the parties hereto would not have entered into this Subscription Agreement.
8. Disclosure.
8.1 The
SPAC shall, by 5:30 p.m., New York City time, on the first (1st ) business day immediately following the date of this Subscription
Agreement file a Current Report on Form 8-K with the Commission (the time of such filing, “Disclosure Time”)
disclosing and describing all material terms of the transactions contemplated hereby and the Transaction Agreement, and a form of this
Subscription Agreement will be filed with the Commission as an exhibit thereto. From and after the Disclosure Time, the Company represents
to Subscriber that it shall have publicly disclosed all material, non-public information delivered to Subscriber by the Company, Forge
Nano or any of their officers, directors, employees or agents in connection with the transactions contemplated by the Subscription Agreement
and the Transaction Agreement, and Subscriber shall no longer be subject to any confidentiality or similar obligations under any current
agreement, whether written or oral with Company or any of their affiliates, relating to the transactions contemplated by this Subscription
Agreement and the Transaction Agreement.
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8.2 Notwithstanding
anything in this Subscription Agreement to the contrary, none of the SPAC, the Company or Forge Nano shall publicly disclose the name
of Subscriber or any of its affiliates, or include the name of Subscriber or any of its affiliates in any press release or in any filing
with the Commission or any regulatory agency or trading market, without the prior written consent of Subscriber, except (i) as required
by the federal securities law in connection with the Registration Statement, and (ii) to the extent such disclosure is required
by law, at the request of the Staff of the Commission or regulatory agency or under the regulations of Nasdaq, in which case under clause
(i) or (ii) above, the Company shall provide Subscriber with prior written notice of such disclosure, and shall reasonably
consult with the Subscriber regarding such disclosure.
9. Trust
Account Waiver. Subscriber acknowledges that the SPAC is a blank check company with the powers and privileges to effect a merger,
asset acquisition, reorganization or similar business combination involving the SPAC and one or more businesses or assets. Subscriber
further acknowledges that, as described in the Prospectus available at www.sec.gov, substantially all of the SPAC’s assets consist
of the cash proceeds of SPAC’s initial public offering (including overallotment securities sold by the SPAC’s underwriter
thereafter) and private placements of its securities, and substantially all of those proceeds have been deposited in a trust account
(the “Trust Account”) for the benefit of SPAC, its public shareholders and the underwriters of SPAC’s initial
public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to SPAC to pay its
tax obligations, if any, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. For and in
consideration of the SPAC entering into this Subscription Agreement, the receipt and sufficiency of which are hereby acknowledged, Subscriber,
on behalf of itself and its representatives, hereby irrevocably waives any and all right, title and interest, or any claim of any kind
they now have or may have in the future, in or to any monies held in the Trust Account or distributions therefrom to the SPAC’s
public stockholders, and agrees not to seek recourse against the Trust Account for any claims in connection with, as a result of, or
arising out of, this Subscription Agreement or the transactions contemplated hereby; provided, however, that nothing in
this Section 9 (x) shall serve to limit or prohibit Subscriber’s right to pursue a claim against SPAC for legal
relief against assets held outside the Trust Account (other than distributions to the SPAC’s public stockholders), for specific
performance or other equitable relief, (y) shall serve to limit or prohibit any claims that Subscriber may have in the future against
SPAC’s assets or funds that are not held in the Trust Account (including any funds that have been released from the Trust Account
(other than distributions to the SPAC’s public stockholders) and any assets that have been purchased or acquired with any such
funds) or (z) shall be deemed to limit any Subscriber’s right, title, interest or claim to the Trust Account by virtue of
such Subscriber’s record or beneficial ownership of securities of the SPAC acquired by any means other than pursuant to this Subscription
Agreement, including but not limited to any redemption right with respect to any such securities of the SPAC.
10. Reliance.
10.1 Subscriber
acknowledges that the Company and BTIG, LLC (the “Placement Agent”) will rely on the acknowledgements, understandings,
agreements, representations and warranties of Subscriber contained in this Subscription Agreement. Subscriber agrees to promptly notify
the Company and BTIG, LLC if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties
of Subscriber set forth herein are no longer accurate in all material respects. Subscriber acknowledges and agrees that the purchase
by Subscriber of Securities from the Company will constitute a reaffirmation of the acknowledgments, understandings, agreements, representations
and warranties herein (as modified by any such notice) by Subscriber as of the time of such purchase. The Company acknowledges that Subscriber
and BTIG, LLC will rely on the acknowledgments, understandings, agreements, representations and warranties of the Company contained in
this Subscription Agreement.
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10.2 Each
of the Company and BTIG, LLC and Subscriber is irrevocably authorized to produce this Subscription Agreement or a copy hereof to any
interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby to the extent
required by law or regulatory bodies.
Subscriber agrees that BTIG,
LLC shall not be liable to it (including in contract, tort, under federal or state securities laws or otherwise) for any action heretofore
or hereafter taken or omitted to be taken by any of them in good faith in connection with the transactions contemplated herein and the
purchase and sale of the Securities hereunder. On behalf of Subscriber and its affiliates, Subscriber releases BTIG, LLC in respect of
any Losses related to the transactions contemplated herein and the purchase and sale of Securities hereunder. Subscriber agrees not to
commence any litigation or bring any claim against BTIG, LLC in any court or other forum which relates to, may arise out of, or is in
connection with, the transactions contemplated herein and the purchase and sale of the Securities hereunder absent BTIG’s gross
negligence and willful misconduct. The undertaking is given freely and after obtaining independent legal advice. Subscriber acknowledges
that BTIG, LLC will receive a fee from SPAC with respect to the sale of Securities and a deferred underwriting commission in connection
with the SPAC’s initial public offering.
[Signature Pages Follow]
32
IN
WITNESS WHEREOF, each of the Company, Forge Nano, SPAC and Subscriber has executed or caused this Subscription Agreement to
be executed by its duly authorized representative as of the date first set forth above.
ATII HOLDINGS INC.
By:
Name:
Title:
FORGE NANO, INC.
By:
Name:
Title:
SOLELY FOR PURPOSES OF SECTION 8
Archimedes
Tech SPAC Partners II Co.
By:
Name:
Title:
[Signature page to Subscription Agreement]
Accepted and agreed as of the date first set
forth above.
SUBSCRIBER:
Name of Subscriber:
Name of Joint Subscriber, if applicable
(Please print)
(Please print)
Signature of Subscriber:
Signature of Joint Subscriber, if applicable:
By:
By:
Name:
Name:
Title:
Title:
If there are joint investors, please check
one:
¨
Joint Tenants with Rights of Survivorship
¨
Community Property
¨
Tenants-in-Common
Subscriber’s
Joint Subscriber’s EIN:
EIN:
Business Address-Street:
Mailing Address-Street (if different):
City, State, Zip:
City, State, Zip:
Country:
Country:
Attn:
Attn:
Telephone No.:
Telephone No.:
Facsimile No:
Facsimile No:
Email Address:
Email Address:
Aggregate Purchase Price: $ __________________________
Subscriber must pay the Purchase Price by wire
transfer of U.S. dollars in immediately available funds to the account specified by the Company in the Notice.
[Signature page to Subscription Agreement]
If Subscriber wants certificated Securities rather
than book-entry form, indicate here: _________
[Signature page to Subscription Agreement]
SCHEDULE
A
ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER
This Schedule A should be completed by Subscriber
and constitutes a part of the Subscription Agreement.
A. QUALIFIED
INSTITUTIONAL BUYER STATUS
(Please check the applicable subparagraphs):
1. ¨
Subscriber is a “qualified institutional buyer” (as defined in Rule 144A
under the Securities Act of 1933, as amended (the “Securities Act”) (a
“QIB”)).
2. ¨
Subscriber is subscribing for the Securities as a fiduciary or agent for one or more investor
accounts, and each owner of such account is a QIB.
*** OR ***
B. INSTITUTIONAL
ACCREDITED INVESTOR STATUS
(Please check the applicable subparagraphs):
1. ¨
Subscriber is an institutional “accredited investor” (within the meaning of Rule 501(a) under
the Securities Act), and have marked and initialed the appropriate box on the following page indicating
the provision under which we qualify as an institutional “accredited investor.”
2. ¨
Subscriber is not a natural person.
*** AND ***
C. AFFILIATE
STATUS
(Please check the applicable box) SUBSCRIBER:
¨ is:
¨ is
not
an “affiliate” (as defined
in Rule 144 under the Securities Act) of the Company or acting on behalf of an affiliate of the Company.
Rule 501(a), in relevant part, states that
an “accredited investor” shall mean any person who comes within any of the below listed categories, or who the issuer reasonably
believes comes within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated,
by marking and initialing the appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber
accordingly qualifies as an “accredited investor.”
¨ Any
bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association
or other institution as defined in section 3(a)(5)(A) of the Securities Act whether
acting in its individual or fiduciary capacity;
Sch. A-1
¨ Any
broker or dealer registered pursuant to section 15 of the Exchange Act;
¨ Any
investment adviser registered pursuant to section 203 of the Investment Advisers Act of 1940
or registered pursuant to the laws of a state;
¨ Any
investment adviser relying on the exemption from registering with the Commission under section
203(l) or (m) of the Investment Advisers Act of 1940;
¨ Any
insurance company as defined in section 2(a)(13) of the Securities Act;
¨ Any
investment company registered under the Investment Company Act or a business development
company as defined in section 2(a) (48) of the Investment Company Act;
¨ Any
Small Business Investment Company licensed by the U.S. Small Business Administration under
section 301(c) or (d) of the Small Business Investment Act of 1958;
¨ Any
Rural Business Investment Company as defined in section 384A of the Consolidated Farm and
Rural Development Act;
¨ Any
plan established and maintained by a state, its political subdivisions, or any agency or
instrumentality of a state or its political subdivisions for the benefit of its employees,
if such plan has total assets in excess of $5,000,000;
¨ Any
employee benefit plan within the meaning of the Employee Retirement Income Security Act of
1974 (“ERISA”), if (i) the investment decision is made by a plan
fiduciary, as defined in section 3(21) of ERISA, which is either a bank, a savings and loan
association, an insurance company, or a registered investment adviser, (ii) the employee
benefit plan has total assets in excess of $5,000,000 or, (iii) the plan is a self-directed
plan, with investment decisions made solely by persons that are “accredited investors”;
¨ Any
private business development company as defined in section 202(a)(22) of the Investment Advisers
Act of 1940;
¨ Any
(i) corporation, limited liability company or partnership, (ii) Massachusetts or
similar business trust, or (iii) organization described in section 501(c)(3) of
the Internal Revenue Code, in each case that was not formed for the specific purpose of acquiring
the securities offered and that has total assets in excess of $5,000,000;
Sch. A-2
¨ Any
trust, with total assets in excess of $5,000,000, not formed for the specific purpose of
acquiring the securities offered, whose purchase is directed by a sophisticated person as
described in section 230.506(b)(2)(ii) of Regulation D under the Securities Act;
¨ Any
entity, other than an entity described in the categories of “accredited investors”
above, not formed for the specific purpose of acquiring the securities offered, owning investments
in excess of $5,000,000;
¨ Any
“family office,” as defined under the Investment Advisers Act that satisfies
all of the following conditions: (i) with assets under management in excess of $5,000,000,
(ii) that is not formed for the specific purpose of acquiring the securities offered
and (iii) whose prospective investment is directed by a person who has such knowledge
and experience in financial and business matters that such family office is capable of evaluating
the merits and risks of the prospective investment;
¨ Any
“family client,” as defined under the Investment Advisers Act, of a family office
meeting the requirements in the previous paragraph and whose prospective investment in the
issuer is directed by such family office pursuant to the previous paragraph; or
¨ Any
entity in which all of the equity owners are accredited investors.
¨ I
have an individual net worth, or joint net worth with my spouse or spousal equivalent, of
more than $1,000,000 exclusive of the value of my primary residence.
(For purposes of determining net worth,
exclude the value of your primary residence as well as the amount of indebtedness secured by your primary residence, up to the fair market
value. Any amount in excess of the fair market value of your primary residence must be included as a liability. In the event the indebtedness
on your primary residence was increased in the 60 days preceding the completion of this Agreement, the amount of the increase must be
included as a liability in the net worth calculation. For this purpose, “joint net worth” can be the aggregate net worth
of the investor and spouse or spousal equivalent; assets need not be held jointly to be included in the calculation. Reliance on the
joint net worth standard described herein does not require that the securities be purchased jointly. For this purpose, “spousal
equivalent” means a cohabitant occupying a relationship generally equivalent to that of a spouse.)
¨ I
have an individual income in excess of $200,000, or joint income with my spouse or spousal
equivalent in excess of $300,000, in each of the 2 most recent years and I have a reasonable
expectation of reaching the same income level in the current year.
¨ I
hold, in good standing, 1 or more professional certifications or designations or credentials
from an accredited educational institution that the SEC has designated as qualifying an individual
for accredited investor status and which the SEC has posted as qualifying. (For this purpose,
the SEC has posted the following qualifying professional certifications: holders in good
standing of FINRA Series 7, Series 65, and Series 82 licenses.)
Sch. A-3
SCHEDULE B
Sch. B-1
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