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 end on Monday, March 30th. Armada Acquisition Corp. III had issued 22,500,000 shares in its 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 Armada Acquisition Corp. III’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates 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 raised shares of Armada Acquisition Corp. III to a “hold” rating in a research note on Sunday, March 1st.

Armada Acquisition Corp. III Price Performance

Shares of AACIU opened at $9.97 on Monday. Armada Acquisition Corp. III has a one year low of $9.95 and a one year high of $9.98. The stock has a 50-day moving average price of $11.38 and a 200 day moving average price of $11.31.

Institutional Trading of Armada Acquisition Corp. III

A number of hedge funds have recently made changes to their positions in the stock. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in shares of Armada Acquisition Corp. III in the second quarter worth $15,315,000. AQR Arbitrage LLC bought a new position in Armada Acquisition Corp. III during the 2nd quarter valued at $15,266,000. Clear Street LLC acquired a new position in Armada Acquisition Corp. III during the 2nd quarter worth $4,911,000. Karpus Management Inc. bought a new stake in shares of Armada Acquisition Corp. III in the 2nd quarter worth about $3,063,000. Finally, Clear Street Group Inc. bought a new stake in shares of Armada Acquisition Corp. III in the 3rd quarter worth about $3,093,000.

Armada Acquisition Corp. III Company Profile

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.