Armada Acquisition Corp. III

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.

Armada Acquisition Corp. III, a Special Purpose Acquisition Company (SPAC), reported a net income of $2,390,876 for the six months ended June 30, 2026. This income was primarily driven by $3,072,228 in interest earned on the funds held in its Trust Account. As of June 30, 2026, the company's total assets stood at $252,493,256, with $251,572,228 held in the Trust Account. The company is actively seeking a business combination, focusing on FinTech, SaaS, or AI sectors, and has an 18-month window from its February 2026 Initial Public Offering to complete this.

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.