Armada Acquisition Corp. II’s Lock-Up Period Will Expire Tomorrow (NASDAQ:AACI)

Armada Acquisition Corp. II’s (NASDAQ:AACI) lock-up period will end on Monday, August 17th. Armada Acquisition Corp. II had issued 22,500,000 shares in its public offering on February 18th. The total size of the offering was $225,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Armada Acquisition Corp. II in a report on Thursday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Armada Acquisition Corp. II has a consensus rating of “Sell”.

Armada Acquisition Corp. II Price Performance

Shares of Armada Acquisition Corp. II stock opened at $10.00 on Friday. The firm has a 50-day moving average of $9.98 and a 200-day moving average of $10.05. Armada Acquisition Corp. II has a 52-week low of $9.74 and a 52-week high of $10.00.

Institutional Trading of Armada Acquisition Corp. II

A number of institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC acquired a new position in shares of Armada Acquisition Corp. II during the 3rd quarter worth approximately $235,000. Steadfast Capital Management LP acquired a new stake in shares of Armada Acquisition Corp. II in the third quarter valued at approximately $835,000. Boothbay Fund Management LLC acquired a new stake in shares of Armada Acquisition Corp. II in the second quarter valued at approximately $1,357,000. Cable Car Capital LP acquired a new stake in shares of Armada Acquisition Corp. II in the third quarter valued at approximately $1,565,000. Finally, Citadel Advisors LLC bought a new stake in shares of Armada Acquisition Corp. II in the third quarter valued at approximately $2,024,000. Institutional investors own 27.95% of the company’s stock.

About Armada Acquisition Corp. II

Armada Acquisition Corp. I does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses in the financial technology industry. The company was incorporated in 2020 and is based in Philadelphia, Pennsylvania.