Armada Acquisition Corp. III’s Quiet Period Set To End on March 30th (NASDAQ:AACIU)

Armada Acquisition Corp. III’s (NASDAQ:AACIU) quiet period will expire on Monday, March 30th. Armada Acquisition Corp. III had issued 22,500,000 shares in its 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 the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

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

Armada Acquisition Corp. III Trading Up 0.1%

Shares of AACIU stock opened at $9.97 on Friday. The business’s 50 day simple moving average is $11.22 and its 200 day simple moving average is $11.29. Armada Acquisition Corp. III has a one year low of $9.95 and a one year high of $9.99.

Institutional Investors Weigh In On Armada Acquisition Corp. III

A number of institutional investors have recently modified their holdings of the company. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of Armada Acquisition Corp. III during the second quarter worth $15,315,000. AQR Arbitrage LLC acquired a new position in Armada Acquisition Corp. III in the second quarter valued at $15,266,000. Clear Street LLC bought a new stake in Armada Acquisition Corp. III during the second quarter valued at $4,911,000. Karpus Management Inc. acquired a new stake in Armada Acquisition Corp. III during the 2nd quarter worth about $3,063,000. Finally, Clear Street Group Inc. acquired a new stake in Armada Acquisition Corp. III during the 3rd quarter worth about $3,093,000.

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.