Armada Acquisition Corp. I (AACI) Postpones Extension Vote for Third Time

Armada I (NASDAQ:AACI) announced this afternoon that it has further postponed its extension vote, marking the third postponement for its special meeting.

The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, then January 31, and is now scheduling it for February 2. Armada has also extended the deadline for holders to submit their public shares for redemption until 5 pm tonight.

As mentioned before, Armada will not adjust the estimated redemption price per share for its estimated tax liabilities relating to the interpretation and operation of the Inflation Reduction Act of 2022. As such, the redemption price will remain at $10.17 per share at the time of the meeting.

The company is facing a completion deadline of February 17, but it is seeking to extend this by six months to August 17. Armada is hoping to close its $1.8 billion combination with adtech firm Rezolve, which it announced in December 2021. London-based Rezolve enables the transformation of interactions between consumers and merchants on mobile devices by converting media into an interactive experience.