Armada Acquisition Corp. III to Combine with Brains Bioceutical

Armada Acquisition Corp. III (AACIU) and Brains Bioceutical Corp. have entered into a definitive business combination agreement. The combined entity will be named Brains Therapeutics Corp. and is expected to be listed on the Nasdaq under the ticker symbol 'BAPI'. The transaction values Brains Bioceutical at an implied pre-money equity value of approximately $750.0 million. Brains Bioceutical specializes in pharmaceutical API manufacturing and drug development, operating an EU-GMP certified facility in England. The deal is anticipated to close in the second quarter of 2027, subject to shareholder approvals and other customary closing conditions.