- Business
- Armada Acquisition Corp. II (NASDAQ: AACI) operates as a blank check company, or special purpose acquisition company (SPAC), formed to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or assets, primarily targeting private companies in the FinTech, SaaS, and AI industries that seek public listing opportunities. The company offers no current products or services beyond its SPAC structure, which provides public capital access to innovative small- and middle-cap technology firms through sponsor-managed acquisition vehicles; its predecessor, Armada Acquisition Corp. I, completed a business combination with Rezolve AI Limited (NASDAQ: RZLV) in August 2024 valued at $1.6 billion, after which Armada I became a wholly owned subsidiary of Rezolve. Founded on October 3, 2024, as a Cayman Islands exempted company with executive offices in Philadelphia, Pennsylvania, and principal operations addressed at 382 NE 191st Street, Suite 52895, Miami, Florida, Armada II focuses on sectors driven by emerging technological trends. In May 2025, the company closed a $230 million initial public offering of 23 million units at $10.00 per unit on Nasdaq, including a fully exercised over-allotment option, generating gross proceeds for its trust account invested in U.S. Treasury Bills. Most recently, in August 2025, Arrington XRP Capital Fund, LP acquired securities from the original sponsor Armada Sponsor II LLC via a sponsor securities purchase agreement, installing Taryn Naidu as Chief Executive Officer while retaining prior management as strategic advisors, positioning the SPAC for a potential focus on institutional XRP exposure or related opportunities; as of September 30, 2025, its trust account held $234.6 million with net income of $1.77 million since inception.