Armada Acquisition Corp. III (AACIW) Warrant
Each AACIW warrant gives the holder the right to buy 1 share of Armada Acquisition Corp. III at $11.50 per share. The stock last closed at $10.06, below the strike, so the warrant is out of the money. Armada Acquisition Corp. III has a market value of about $342.34M. There are 12.43M listed warrants; exercising all of them would add 36.5% to the 34.03M shares outstanding. The company can call the warrants if the stock trades at or above $18.00.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- not recorded
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.74
From the issuer's S-1/A (2026-02-12).
Company and stock
- Company
- Armada Acquisition Corp. III
- Underlying stock
- AACI
- Share price
- $10.06
- Market cap
- $342.34M
- Shares outstanding
- 34.03M
- Range since Mar 2026
- $9.85 – $10.07
- Change since Mar 2026
- +2%
- Value of all listed warrants
- $2.92M (0.9% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Carmana Bay
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.2354
- Price / model
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Dilution
- Shares outstanding
- 34.03M
- Listed warrants
- 12.43M
- Dilution if all exercised
- 36.5%
Warrant count from filing iXBRL: PublicWarrantsMember.
Filings and events
Questions about AACIW
When does the AACIW warrant expire?
The expiry date is not yet recorded.
What is the strike price of AACIW?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
Can Armada Acquisition Corp. III redeem the AACIW warrants early?
Yes. The company can call them if the share price reaches $18.00 for the required period (usually 20 of 30 trading days).
How many AACIW warrants are outstanding?
12.43M listed warrants, equal to 36.5% dilution if all are exercised.
Related warrants
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