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

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 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 the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration 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 report on Sunday, March 1st.

Armada Acquisition Corp. III Stock Down 0.0%

Shares of Armada Acquisition Corp. III stock opened at $9.97 on Monday. Armada Acquisition Corp. III has a twelve month low of $9.95 and a twelve month high of $9.98. The company has a fifty day moving average price of $11.38 and a 200 day moving average price of $11.31.

Institutional Investors Weigh In On Armada Acquisition Corp. III

A number of large investors have recently modified their holdings of the stock. Crossingbridge Advisors LLC acquired a new position in Armada Acquisition Corp. III during the 2nd quarter worth approximately $1,490,000. Walleye Capital LLC acquired a new stake in Armada Acquisition Corp. III in the second quarter valued at approximately $1,527,000. Cable Car Capital LP acquired a new stake in Armada Acquisition Corp. III in the second quarter valued at approximately $1,532,000. Moore Capital Management LP purchased a new stake in shares of Armada Acquisition Corp. III during the second quarter valued at approximately $2,036,000. Finally, DLD Asset Management LP acquired a new position in shares of Armada Acquisition Corp. III during the second quarter worth $2,042,000.

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.