Armada Acquisition Corp. III closes $248.5 million IPO on NASDAQ

Armada Acquisition Corp. III (NASDAQ: AACIU) completed its initial public offering of 24,850,000 units at $10.00 per unit, raising $248.5 million in gross proceeds. The offering included partial exercise of an over-allotment option.

The units began trading on NASDAQ on February 18, 2026. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Whole warrants entitle holders to purchase one Class A ordinary share at $11.50 per share, subject to adjustment.

Once separate trading begins, the Class A ordinary shares and warrants will trade under the symbols "AACI" and "AACIW," respectively.

The special purpose acquisition company is led by Stephen P. Herbert as Chairman and Chief Executive Officer, with Douglas M. Lurio serving as President and Chief Financial Officer. Mohammad A. Khan, Thomas A. Decker, and Celso L. White serve as directors.

Cohen & Company Capital Markets acted as lead book-runner, while Northland Capital Markets served as joint book-runner for the offering. The Securities and Exchange Commission declared the registration statement effective on February 17, 2026.

Armada Acquisition Corp. III plans to pursue business combinations in the financial technology, software-as-a-service, or generative artificial intelligence industries, according to the company's press release statement.

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