Mercenary companies are usually little more than bands of low-level thugs. This one is a much more sophisticated organisation, with its own history, regulations and culture.
The PCs encounter a strange set of artistic drawings done on the ground as they pass through a city. It has been done in chalks and no one saw who did it. Wizards might recognize the writing within the colored square as an obscure and dead language with a message stating that a prominent wizard and a retired bard have discovered how to populate Arcadia with the spirits of the dead!
Is it a local hoax, or are the PCs crossing the path of a very deranged and possibly dangerous mage?