Rezolve AI common shares and warrants to begin
trading on the Nasdaq on Aug. 16,
2024 under the ticker symbols "RZLV" and "RZLVW",
respectively
PHILADELPHIA, Aug. 15,
2024 /PRNewswire/ -- Armada Acquisition Corp. I,
(Nasdaq: AACI) a publicly traded special purpose acquisition
company ("Armada"), announced today the closing of its previously
announced business combination with Rezolve AI Limited, a leading
provider of AI-driven engagement platforms for retail and commerce.
Armada stockholders approved the transaction at Armada's special
meeting held on August 1, 2024.
Rezolve plans to grow a strategic market base and expand its
position as a global provider of a SAAS based, generative AI
powered sales engine that is designed to help retailers improve
search, advice and revenue generation.
The combined company will operate as "Rezolve AI Limited", and
its common shares and warrants are expected to begin trading on the
Nasdaq Stock Market ("Nasdaq") under the ticker symbols "RZLV" and
"RZLVW", respectively, on August 16,
2024.
Rezolve's management team, led by Chairman and CEO Daniel Wagner, CEO, Technology and Product
Sauvik Banerjjee, CTO Dr Salman
Ahmed and CFO Richard
Burchill, will continue to lead the public company following
the Business Combination.
"Armada identified what we believe to be a company capable of
transforming digital retail engagement using its proprietary
generative AI powered sales engine, and we're committed to helping
Rezolve grow to deliver next level performance for customers and
value to shareholders," said Stephen
Herbert, chairman and CEO of Armada Acquisition Corp. I.
"The Rezolve team, Armada, and Armada's advisors and
professionals worked tirelessly to close this important transaction
which represents a significant milestone for Armada," said
Douglas M. Lurio, President and
Director of Armada.
Additional information about the completed Business Combination
will be provided in a Current Report on Form 8-K to be filed by
Armada and a Form 6-K to be filed by Rezolve with the Securities
and Exchange Commission and available at www.sec.gov.
Advisors
Cohen & Company Capital Markets, a division of J.V.B.
Financial Group, LLC, and Northland Capital Markets are serving as
financial advisors and lead capital markets advisors to Armada
Acquisition Corp. I. DLA Piper LLP (US) is serving as legal counsel
for Armada Acquisition Corp. I. Marcum LLP is serving as auditor
for Armada Acquisition Corp. I. Bishop IR is serving as investor
relations advisor on the transaction.
About Armada Acquisition Corp. I
Armada is a special purpose acquisition company whose business
purpose is to effect a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization, or similar business
combination with one or more businesses. Armada was founded on
November 5, 2020 and is headquartered
in Philadelphia, PA.
About Rezolve AI Limited
Rezolve AI is a leader in the mobile commerce industry with our
cutting-edge engagement platform powered by artificial intelligence
and machine learning. By enabling retailers, brands, and
manufacturers to create dynamic connections with consumers across
mobile and desktop devices, we redefine mobile engagement. Rezolve
AI's AI-driven platform simplifies the purchasing process,
providing relevant information and facilitating seamless
transactions with a single tap. With a commitment to innovation, we
shape the future of digital commerce where technology seamlessly
intersects with commerce for the benefit of businesses and
consumers. Rezolve AI's scalable platform offers merchants
actionable solutions to engage consumers effectively, managing high
traffic volumes and gathering valuable engagement data in
real-time.
The company was founded in 2016, is headquartered in
London, UK and has offices in:
New Delhi, Taipei, Frankfurt, Madrid, Mexico
City and Providence,
RI.
For more information, please visit www.rezolve.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995 and within the meaning of
Section 27a of the Securities Act and Section 21E of the
Exchange Act. Any actual results may differ from expectations,
estimates and projections presented or implied and, consequently,
you should not rely on these forward-looking statements as
predictions of future events. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue," and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements include, without limitation, statements regarding
Rezolve's plans for its business and platform and plans to operate
following the closing of the business combination. These
forward-looking statements are subject to a number of risks and
uncertainties, including, among others, (1) the outcome of any
legal proceedings that may be instituted against Armada, Rezolve
Limited, Rezolve or others following in connection with the
proposed business combination and any definitive agreements with
respect thereto; (3) the ability to meet stock exchange listing
standards following the consummation of proposed business
combination; (4) the risk that the proposed business combination
disrupts current plans and operations of Rezolve as a result of the
announcement and consummation of the proposed business combination;
(5) the ability to recognize the anticipated benefits of the
proposed business combination, which may be affected by, among
other things, competition, the ability of the combined company to
grow and manage growth profitably, and retain its management and
key employees; (6) costs related to the proposed business
combination; (7) changes in applicable laws or regulations; (8)
weakness in the economy, market trends, uncertainty and other
conditions in the markets in which Rezolve Limited or Rezolve
operate, and other factors beyond their control, such as inflation
or rising interest rates; (9) the possibility that Rezolve Limited,
Rezolve or the combined company may be adversely affected by other
economic, business, and/or competitive factors; and (10) additional
risks, including those to be included under the header "Risk
Factors" in the Registration Statement and those included under the
header "Risk Factors" and "Cautionary Note Regarding
Forward-Looking Statements" in Armada's Annual Report on Form 10-K
for the year ended September 30, 2022
and the Quarterly Reports on Form 10-Q filed by Armada for the
quarterly periods ended December 31,
2022 and March 31, 2023. If
any of these risks materialize or Armada's, Rezolve Limited's or
Rezolve's assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. There may be additional risks that none of Armada,
Rezolve Limited or Rezolve presently know or that Armada, Rezolve
Limited and Rezolve currently believe are immaterial that could
also cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Armada's, Rezolve Limited's and/or Rezolve's expectations,
plans or forecasts of future events and views as of the date of
this press release. Armada, Rezolve Limited and Rezolve anticipate
that subsequent events and developments will cause Armada, Rezolve
Limited's and Rezolve's assessments to change. However, while
Armada, Rezolve Limited and Rezolve may elect to update these
forward-looking statements at some point in the future, each of
Armada, Rezolve Limited, Rezolve and Rezolve Merger Sub
specifically disclaim any obligation to do so, unless required by
applicable law. These forward-looking statements should not be
relied upon as representing Armada's, Rezolve Limited's and
Rezolve's assessments as of any date subsequent to the date of this
press release. Accordingly, undue reliance should not be placed
upon the forward-looking statements.
Contacts
Investor Contact:
Mike Bishop
Bishop IR, LLC
mike@bishopir.com
Media Contact:
Urmee Khan
urmeekhan@rezolve.com
+44-7576-094-040
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SOURCE Armada Acquisition Corp. I