Armada Acquisition Corp. III (AACIU) sponsor details founder shares and warrants
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Armada Sponsor III LLC reported its initial ownership in Armada Acquisition Corp. III. The sponsor holds 8,597,917 Class B Ordinary Shares, which will automatically convert into Class A Ordinary Shares on a one-for-one basis at the time of the company’s initial business combination or earlier at the holder’s option.
The sponsor also holds 400,000 Class A Ordinary Shares included in 400,000 private placement units, which will be transferred to non-managing investors and managing members only upon completion of an initial business combination. In addition, it owns 200,000 Private Placement Warrants, each whole warrant exercisable for one Class A share, with 200,000 shares issuable upon cash exercise and expiring five years after the initial business combination.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Armada Sponsor III LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Ordinary Shares | -- | -- | -- |
| holding | Private Placement Warrants | -- | -- | -- |
| holding | Class A Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 8,597,917 shares (Direct);
Private Placement Warrants — 200,000 shares (Direct);
Class A Ordinary Shares — 400,000 shares (Direct)
Footnotes (1)
- Represents 400,000 Class A Ordinary Shares (the "Private Placement Shares") of Armada Acquisition Corp. III (the "Issuer") that are included in the 400,000 private placement units (the "Private Placement Units") of the Issuer purchased by Armada Sponsor III LLC (the "Sponsor"), which shares will be transferred to the non-managing investors (as defined in the registration statement on Form S-1 (File No. 333-291013) (the "Registration Statement")) and to the managing members of the Sponsor only upon consummation of an initial business combination. Each Private Placement Unit is comprised of one Private Placement Share and one-half of one private placement warrant of the Issuer (the "Private Placement Warrants"), each whole Private Placement Warrant will be exercisable to purchase one Private Placement Share. Does not include any Private Placement Shares issuable upon the exercise of Private Placement Warrants. The Class B Ordinary Shares have no expiration date and will automatically convert into Class A Ordinary Shares at the time of the Issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis. Represents Private Placement Warrants included in the 400,000 Private Placement Units. Each Private Placement Warrant is exercisable for cash or on a cashless basis, as described in the Registration Statement. Assuming an exercise for cash, 200,000 Private Placement Shares would be issued upon exercise of the Private Placement Warrants. The Private Placement Warrants expire five (5) years after the completion of the Issuer's initial business combination or earlier upon redemption or liquidation of the Issuer, as described in the Registration Statement.
FAQ
What ownership did Armada Sponsor III LLC report in Armada Acquisition Corp. III (AACIU)?
Armada Sponsor III LLC reported 8,597,917 Class B Ordinary Shares, 400,000 Class A Ordinary Shares within 400,000 private placement units, and 200,000 Private Placement Warrants. These positions represent the sponsor’s initial beneficial holdings as disclosed in the Form 3 filing.
What are the terms of the Private Placement Units reported for AACIU?
Each private placement unit consists of one Class A Ordinary Share and one-half of one Private Placement Warrant. The 400,000 Class A shares will be transferred to non-managing investors and managing members only when Armada Acquisition Corp. III completes an initial business combination, aligning issuance with deal completion.