Armada Acquisition Corp Ii Stock Price, News & Analysis

Armada Acquisition Corp. II (Nasdaq: AACI) has completed a significant Sponsor Securities Purchase transaction with Arrington XRP Capital Fund, LP. Under the deal, Arrington acquired 7,880,000 Class B ordinary shares, 400,000 Class A ordinary shares, and 200,000 private placement warrants from Armada Sponsor II LLC for $6.6 million.

The transaction includes a limited, revocable license to the Armada Acquisition Corp. II branding until November 22, 2026. Following the deal, Arrington has become AACI's new sponsor, with Taryn Naidu stepping in as the incoming CEO. Former executives Stephen P. Herbert and Douglas M. Lurio will serve as strategic advisors to support the transition.

Armada Acquisition Corp. I (Nasdaq: AACI) has closed its business combination with Rezolve AI , a leading provider of AI-driven engagement platforms for retail and commerce. The combined company will operate as Rezolve AI , with its common shares and warrants set to begin trading on the Nasdaq on August 16, 2024, under the ticker symbols RZLV and RZLVW, respectively.

Rezolve plans to expand its position as a global provider of a SAAS-based, generative AI-powered sales engine designed to help retailers improve search, advice, and revenue generation. The company's management team, led by Chairman and CEO Daniel Wagner, will continue to lead the public company following the business combination.

Armada Acquisition Corp. I (NASDAQ: AACI) stockholders have approved the proposed business combination with Rezolve AI at a special meeting held on August 1, 2024. The merger's closing is pending the listing of Rezolve's ordinary shares on Nasdaq and other conditions. Post-merger, Armada will become a wholly owned subsidiary of Rezolve, with the combined entity operating as Rezolve AI . The company's ordinary shares and warrants are expected to trade on Nasdaq under the symbols RZLV and RZLVW, respectively. Armada plans to file the meeting results on Form 8-K with the SEC within four business days.

Armada Acquisition Corp. I (Nasdaq: AACI) announced the SEC's approval of Rezolve AI 's registration statement, paving the way for their business combination. The registration statement includes a proxy statement from Armada and a prospectus from Rezolve. Upon completion, Rezolve will be publicly listed on Nasdaq under the ticker symbol 'RZLV'. Armada's special stockholder meeting is set for July 30, 2024, to approve this combination. Rezolve's AI-driven platform aims to enhance retailer-consumer interactions. The meeting will be held virtually, and shareholders can vote and ask questions during the webcast.

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Armada Acquisition Corp. I (NASDAQ: AACI) has received Board approval for a 3-month extension to finalize its business combination with Rezolve Limited, now due by February 17, 2023. An additional $1.5 million has been deposited into Armada’s Trust Account as part of this extension. The amendment to their agreement allows Rezolve to be the listed entity post-combination and adjusts certain equity provisions. Rezolve has made significant strides in 2022, including new partnerships and product launches, enhancing its market presence substantially.

Rezolve Limited updated its 2022 outlook, predicting a significant reduction in Adjusted EBITDA loss, now estimated at $34 million, down from $172 million, while maintaining a revenue target of $219 million, reflecting over 190% growth year-over-year. The company aims to onboard over 300,000 merchants by year-end. Rezolve credits a capital-efficient merchant acquisition strategy for this improvement and expects to achieve profitability by Q3 2023, earlier than previously projected. The outlook is based on existing funding commitments from its merger with Armada Acquisition Corp. I.

Rezolve has appointed Sunder Madakshira as the new CEO for its Indian operations, effective February 16, 2022. Madakshira has over 26 years of experience in sales and marketing, previously serving as head of marketing at Adobe. He is recognized for his expertise in Data Driven Operating Models and has held senior roles in firms like SAP and Wipro. Rezolve aims to enhance its growth in India, leveraging Madakshira's extensive network and marketing acumen. The company is positioned to capitalize on India's high mobile penetration and intends to transform mobile commerce.