Armada Acquisition Corp. I (AACIU) Prices $150M IPO


Armada Acquisition Corp. I (AACIU) Prices $150M IPO

Aug 12, 2021 IPOs by Marlena Haddad

Armada Acquisition Acquisition Corp. I  announced the pricing of its $150 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “AACIU” Friday, August 13.

The new SPAC intends to combine with an established fintech target that has an equity value of approximately $500 million to $1 billion. Armada I is led by Chairman and CEO Stephen P. Herbert, and President, Treasurer, and Secretary Douglas M. Lurio.

Total SPAC deal count for 2021 year-to-date is now 409. This offering is expected to close on Tuesday, August 17.

Northland Securities, Inc. is acting as the sole book-running manager for the offering. Cohen & Company Capital Markets, a division of JVB Financial Group LLC, is acting as an advisor to AACI. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.