AACI - Armada Acquisition to buy Rezolve Mobile Engagement Platform in a $2 billion deal

Rezolve, a leader in mobile commerce and engagement, entered a business combination agreement with Armada Acquisition Corp. I (NASDAQ:AACI) (“Armada”), a publicly-traded SPAC. Upon closing, the combined company’s shares are expected to trade on the NASDAQ under the ticker symbol “ZONE”. The transaction is expected to result in $190 million in gross proceeds, including $150 million in trust (assuming no redemptions) and ~$40 million of additional capital from Christian Angermayer and Betsy Cohen. The proposed business combination values the enlarged Rezolve group at a pro forma enterprise value of ~$1.8 billion and a pro forma market capitalization of ~$2 billion. The transaction has been unanimously approved by the Board of Directors of Armada and Rezolve, and is subject to the satisfaction of customary closing conditions.

For further details see:

Armada Acquisition to buy Rezolve Mobile Engagement Platform in a $2 billion deal