Rezolve AI Limited Closes Business Combination with Armada
Acquisition Corp. I; Announces Date for Commencement of Trading on
the Nasdaq; Launching one of the first pure play Ai companies with
its own foundation Large Language Model - brainpowa
- Rezolve's proprietary LLM - brainpowa- is customized and
focuses on commerce and retail enabling 'conversational commerce'
and instant checkout in 95 languages
- Rezolve AI ordinary shares and warrants to begin trading on the
Nasdaq on August 16, 2024 under the ticker symbols "RZLV" and
"RZLVW", respectively
- Rezolve AI is advancing digital retail engagement for merchants
with its proprietary technology by providing customers with a Gen
AI powered sales engine designed to significantly improve search,
advice and revenue generation
LONDON and PHILADELPHIA, Aug. 15, 2024 (GLOBE
NEWSWIRE) -- Rezolve AI Limited, ("Rezolve" or the "Company"), a
leading provider of AI-driven engagement platforms for retail and
commerce, today announced that it has completed its business
combination with Armada Acquisition Corp. I (Nasdaq: AACI), a
publicly traded special purpose acquisition company ("Armada").
Armada stockholders approved the transaction at Armada’s special
meeting held at 10am on August 01, 2024. Rezolve plans to use
the cash from the business combination 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.
"We are thrilled to have successfully completed
the business combination with Armada and begin our next chapter. As
a pure play public AI company, we expect Rezolve will continue to
lead the design of business-safe AI solutions. We are committed to
AI that delivers to our customers personalized consumer engagement,
and superior productivity and performance," said Daniel M. Wagner,
Chairman and CEO of Rezolve AI Limited. "We are incredibly grateful
to our leadership team, employees and partners around the world for
their support in our journey. We are looking forward to the future
and believe Rezolve is well-positioned to capitalize on significant
growth opportunities and generate substantial value for all
stakeholders."
"Rezolve’s solution offers a scalable,
customizable AI platform that can increase customer engagement
while delivering the next level of performance in digital
shopping," said Stephen P. Herbert, CEO and Chairman of Armada. "We
are pleased that our investors supported the merger and look
forward to continuing our partnership with Rezolve."
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.
Rezolve Ai Product Suite
Our Large Language Model ("LLM") uses
proprietary AI to interrogate presales, sales and post-sales
content as well as transactional and customer data to build one of
the world’s first dedicated eCommerce and Sales LLMs. Today,
Rezolve’s proprietary commerce-centric LLM ‘brainpowa" suite of
products include "Brain Commerce" for Ai powered conversational
commerce, "Brain Checkout" an Ai powered engagement platform, and
"Brain Assistant" for Ai powered knowledge management.
Rezolve’s
AI- and cloud-based advertising, engagement and
commerce platform is designed for merchants of all
sizes
- eCommerce-Specific AI Platform and
Suite—Brain. Rezolve’s Brain allows customers, either
online or instore, to ask, via voice or text and in any of
ninety-five languages, any question of a merchant’s product
catalogue and customer support knowledge base using conversational
prompts and immediately be recommended the most appropriate
products and answers.
- Instant Checkout. Rezolve’s Instant Checkout
allows websites to convert passive browsers into actors or buyers
with one click directly from the product detail pages on merchant
websites.
- Omnichannel Interactions. The Rezolve platform
provides multiple opportunities for interaction.
- Direct Brand Engagement. We deliver a comprehensive
commerce and engagement platform that allows merchants to easily
create direct engagements with consumers via their mobile
phone.
- Seamless Integration with Existing
Applications. We expect the Rezolve solution to be able
to be integrated with a merchant’s application and expect it to
require minimal time or training to implement and use.
- Actionable Analytics and Insights. With our
platform, we expect merchants will be able to receive direct
insights into consumer behavior that are often not shared by
third-party intermediaries.
- A Frictionless Consumer Experience. We expect
that our platform will provide consumers with an intuitive and
immediate user experience. Consumers only need a mobile phone (for
Rezolve Instant Checkout, SmartLinks and SmartCodes).
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.
About Rezolve AI Limited
Rezolve AI leads 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.
Our 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. Our 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 globally.
For more information, please
visit www.rezolve.com.
About Armada Acquisition Corp.
I
Armada is a blank check 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.
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 the
proposed business combination and related transactions. These
forward-looking statements are subject to a number of risks and
uncertainties, including, among others, (1) the occurrence of any
event, change or other circumstances that could give rise to the
termination of the proposed business combination; (2) the outcome
of any legal proceedings that may be instituted against Armada,
Rezolve Limited, Rezolve or others following the announcement of
the proposed business combination and any definitive agreements
with respect thereto;; (3) the ability to meet stock exchange
listing standards as a condition to closing of the business
combination or following the consummation of the proposed business
combination; (4) the risk that the proposed business combination
disrupts current plans and operations of Armada, Rezolve Limited or
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 and delays in obtaining, adverse conditions contained
in, or the inability to obtain regulatory approvals required to
complete the proposed business combination; (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 Armada, 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, 2023 and the Quarterly Reports on Form 10-Q
filed by Armada for the quarterly periods ended December 31, 2023
and March 31, 2024. 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.
No Offer or Solicitation
This press release is for informational purposes
only and does not constitute an offer or a solicitation of an offer
to buy or sell securities, assets or the business described herein
or a commitment to Armada, Rezolve Limited or Rezolve, nor is it a
solicitation of any vote, consent or approval in any jurisdiction
pursuant to or in connection with the proposed business combination
or otherwise, nor shall there be any offer, sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law.
Contact:
Investor Contact:
Mike Bishop
Bishop IR, LLC
mike@bishopir.com
Media Contact:
Urmee Khan
urmeekhan@rezolve.com
44-7576-094-040
