Armada Acquisition Corp. I has priced its initial public offering of 15,000,000 units at $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market and trade under the ticker symbol “AACIU.” Each unit consists of one share of common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, shares of the common stock and warrants are expected to be listed on Nasdaq under the symbols “AACI” and “AACIW,” respectively.

AACI is a special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the company may pursue an acquisition or business combination target in any business or industry, it intends to focus its search on a business in the financial technology industry, with an enterprise value of approximately $500 million to $1.0 billion, with particular emphasis on businesses that are providing digital, on-line, or mobile payment services, processing and gateway services, point-of-sale technology, consumer engagement platforms, and ecommerce or loyalty solutions. AACI is sponsored by Armada Sponsor LLC.

AACI is led by Stephen Herbert, chief executive officer and director, Douglas Lurio, president and director, Mohammad Khan, director, Thomas Decker, director, and Celso White, director.

Northland Securities Inc. is acting as the sole book-running manager for the offering. Cohen & Co. Capital Markets, a division of JVB Financial Group LLC, is acting as an advisor to AACI. The company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on August 17, 2021, subject to customary closing conditions.