Armada Acquisition Corp. III’s (NASDAQ:AACIU) Quiet Period Will Expire Tomorrow

Armada Acquisition Corp. III’s (NASDAQ:AACIU) quiet period is set to end on Monday, March 30th. Armada Acquisition Corp. III had issued 22,500,000 shares in its initial public offering on February 18th. The total size of the offering was $225,000,000 based on an initial share price of $10.00. During Armada Acquisition Corp. III’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Armada Acquisition Corp. III to a “hold” rating in a research note on Sunday, March 1st.

Armada Acquisition Corp. III Trading Down 0.1%

NASDAQ AACIU opened at $9.96 on Friday. The firm’s 50 day moving average price is $11.18 and its 200-day moving average price is $11.29. Armada Acquisition Corp. III has a 52-week low of $9.95 and a 52-week high of $9.99.

Hedge Funds Weigh In On Armada Acquisition Corp. III

Institutional investors and hedge funds have recently modified their holdings of the stock. Walleye Capital LLC purchased a new stake in shares of Armada Acquisition Corp. III in the second quarter worth about $1,527,000. Cable Car Capital LP purchased a new position in Armada Acquisition Corp. III during the second quarter valued at approximately $1,532,000. Moore Capital Management LP acquired a new position in Armada Acquisition Corp. III in the second quarter valued at approximately $2,036,000. Whitebox Advisors LLC acquired a new position in Armada Acquisition Corp. III in the second quarter valued at approximately $2,042,000. Finally, Karpus Management Inc. purchased a new stake in Armada Acquisition Corp. III in the 2nd quarter worth approximately $3,063,000.

About Armada Acquisition Corp. III

Armada Acquisition Corp. III (NASDAQ: AACIU) is a special purpose acquisition company (SPAC), commonly referred to as a blank check company, that is organized to raise capital through a public offering and use those proceeds to effect one or more business combinations. As a publicly listed SPAC, its principal activity is sourcing, negotiating and completing a merger, capital stock exchange or other business combination with an operating company, rather than operating an ongoing commercial business of its own.

Typical SPAC activities include the issuance of units in an initial public offering, with the IPO proceeds placed in a trust account pending the completion of a qualifying business combination.