Armada Acquisition Corp. II completed a Sponsor Securities Purchase transaction with Arrington XRP Capital Fund, LP.
Arrington acquired 7,880,000 Class B ordinary shares, 400,000 Class A ordinary shares, and 200,000 private placement warrants of Armada from Armada Sponsor II LLC.
Arrington became the new sponsor of Armada Acquisition Corp II.
Transaction Details
Arrington acquired securities from Armada Sponsor II LLC for $6.6 million.
Strategic Advisors
Stephen P. Herbert and Douglas M. Lurio are serving as strategic advisors to the incoming CEO.
Transition Plan
The transaction positions Armada for its next phase and explores business combination opportunities.
- The new sponsor, Arrington XRP Capital, will bring strategic value to Armada's operations.
- Stephen P. Herbert and Douglas M. Lurio will provide expertise in public company and SPAC operations.
The completion of this transaction marks a significant step for Armada Acquisition Corp. II towards its future growth and business opportunities.