Quarterly ResultMay 8, 2026, 04:56 PM
Armada Acquisition Corp. III Completes IPO, Establishes $249.3M Trust Account
AI Summary
Armada Acquisition Corp. III, a blank check company, completed its Initial Public Offering on February 19, 2026, raising $248.5 million from the sale of 24,850,000 units. Concurrently, it sold 672,000 Private Placement Units for $6.72 million. Substantially all proceeds, totaling $249.3 million, were placed into a Trust Account for future business combinations, focusing on FinTech, SaaS, or AI. For the three months ended March 31, 2026, the company reported a net income of $423,410.
Key Highlights
- Completed Initial Public Offering of 24,850,000 units at $10.00 per unit, raising $248,500,000.
- Sold 672,000 Private Placement Units at $10.00 per unit, generating $6,720,000.
- Cash and marketable securities in Trust Account totaled $249,296,894 as of March 31, 2026.
- Reported net income of $423,410 for the three months ended March 31, 2026.
- Basic and diluted net income per share for Class A ordinary shares was $0.02.
- Total assets increased to $250,423,528 as of March 31, 2026, from $332,011 at Dec 31, 2025.
- Forfeited 345,083 Class B founder shares due to partial exercise of over-allotment option.