Armada Acquisition Corp. I Announces Postponement of its 2023 Annual Meeting to January 30, 2023 and Change in Estimated Redemption Price

PHILADELPHIA, Jan. 19, 2023 /PRNewswire/ -- Armada Acquisition Corp. I (the "Company" or "AACI") announced today that its 2023 annual meeting of stockholders will be postponed from its original date of 1:00 pm Eastern Time on Friday, January 20, 2023 to 1:00 pm Eastern Time on January 30, 2023. The meeting can still be accessed virtually by visiting https://www.cstproxy.com/armadaacqi/2023.  The record date for the meeting remains December 15, 2022.

The Company also announced that it will not adjust the estimated redemption price per share for the Company's estimated tax liabilities relating to the interpretation and operation of the Inflation Reduction Act of 2022.  Accordingly, the estimated redemption price per share as of January 19, 2023 will be approximately $10.17 at the time of the annual meeting, as originally reported in the Company's proxy statement for the 2023 annual meeting filed with the U.S. Securities and Exchange Commission on January 5, 2023. The closing price of the Company's common stock on January 18, 2023 was $10.09.

Stockholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not take any action. Stockholders as of the record date can vote, even if they have subsequently sold their shares. Any stockholders who wish to change their vote and need assistance should contact Okapi Partners at (212) 297-0720, or [email protected].  In connection with the postponement of the 2023 Annual Meeting, the Company has further extended the deadline for holders of the Company's common stock issued in the Company's initial public offering (the "public shares") to submit their public shares for redemption in connection with the Extension Proposal until 5:00 p.m. Eastern Time on January 26, 2023. Stockholders who wish to withdraw their previously submitted redemption request may do so prior to the rescheduled meeting by requesting that the transfer agent return such public shares prior to 11:00 am Eastern Time on January 30, 2023.

The Company and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from the Company's shareholders in respect of the 2023 annual meeting of stockholders and the Extension Proposal and related matters. Information regarding the Company's directors and executive officers is available in Company's proxy statement for the 2023 annual meeting filed with the U.S. Securities and Exchange Commission on January 5, 2023. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the Proxy Statement (defined below).

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

The Company has filed with the Securities and Exchange Commission (the "SEC") a definitive proxy statement (the "Proxy Statement") in connection with the 2023 annual meeting of stockholders (the "Annual Meeting") to consider and vote upon the Extension Proposal and other matters and, beginning on or about January 6, 2023, mailed the Proxy Statement and other relevant documents to its stockholders as of the December 15, 2022 record date for the Annual Meeting. The Company's stockholders and other interested persons are advised to read the Proxy Statement and any other relevant documents that have been or will be filed with the SEC in connection with the Company's solicitation of proxies for the Annual Meeting because these documents contain important information about the Company, the Extension Proposal and related matters. Stockholders may also obtain a free copy of the Proxy Statement, as well as other relevant documents that have been or will be filed with the SEC, without charge, at the SEC's website located at www.sec.gov or by directing a request to: Armada Acquisition Corp. I, 1760 Market Street, Suite 602, Philadelphia, PA 19103, (215) 543-6886 or to: Okapi Partners, Attention: Chuck Garske /Jon Einsidler/ Christian Jacques, (212) 297-0720, or [email protected].

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding the estimated per share redemption price and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q and initial public offering prospectus. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 

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Media and Investors
Stephen P. Herbert
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Douglas M. Lurio
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SOURCE Armada Acquisition Corp. I