Armada Acquisition Corp. III’s Quiet Period Set To Expire 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 IPO 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, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

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 Stock Performance

Armada Acquisition Corp. III stock opened at $9.97 on Wednesday. Armada Acquisition Corp. III has a 1 year low of $9.95 and a 1 year high of $9.99. The firm has a 50 day moving average price of $11.30 and a 200 day moving average price of $11.29.

Institutional Trading of Armada Acquisition Corp. III

A number of institutional investors and hedge funds have recently made changes to their positions in AACIU. Crossingbridge Advisors LLC acquired a new position in Armada Acquisition Corp. III in the second quarter valued at $1,490,000. Cable Car Capital LP acquired a new stake in Armada Acquisition Corp. III during the second quarter worth about $1,532,000. Walleye Capital LLC acquired a new stake in Armada Acquisition Corp. III during the second quarter worth about $1,527,000. DLD Asset Management LP purchased a new position in shares of Armada Acquisition Corp. III in the 2nd quarter worth about $2,042,000. Finally, Whitebox Advisors LLC purchased a new position in shares of Armada Acquisition Corp. III in the 2nd quarter worth about $2,042,000.

Armada Acquisition Corp. III Company Profile

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.