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Armada Acquisition Corp. II Announces Closing of Sponsor Securities Purchase Agreement

1. Arrington XRP Capital acquires significant shares from former sponsor of AACI. 2. Transaction includes 7.88 million Class B and 400,000 Class A shares.

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$10.2908/28 05:06 PM EDTEvent Start
$10.2908/29 12:39 AM EDTLatest Updated
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FAQ

Why Bullish?

The acquisition by Arrington indicates confidence in AACI's growth potential, which may lead to a price increase, similar to patterns seen in recent sponsor transitions in SPACs where new investors typically bolster confidence.

How important is it?

This transaction could encourage further investment and positively influence AACI's market perception, making it a noteworthy event for current and potential investors.

Why Short Term?

Investors often react quickly to sponsor changes, with potential price shifts anticipated in the coming weeks due to the high-profile nature of the new investor.

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SPACIPOACIC
PHILADELPHIA--(BUSINESS WIRE)--Armada Acquisition Corp. II (Nasdaq: AACI) (“Armada” or the “Company”) today announced that it has completed a Sponsor Securities Purchase transaction under which Arrington XRP Capital Fund, LP (“Arrington”) has acquired the securities of Armada Acquisition Corp. II owned by Armada Sponsor II LLC, the (now former) sponsor of Armada. Under the terms of the Sponsor Securities Purchase Agreement, Arrington purchased 7,880,000 Class B ordinary shares, 400,000 Class A.

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