Armada Stock Soars 273% Ahead of Evernorth Merger
Armada's stock surged dramatically in the past week, with a remarkable 273% increase ahead of its merger with Evernorth. The upcoming deal, set to close on October 7, will see Evernorth holding approximately 473 million XRP tokens, valued at around $1.51 each. This acquisition is currently worth about $714 million based on the current XRP price.
One significant impact of this merger is the potential reduction in the circulating supply of XRP. About 80% of the 241.2 million dollars in the trust account will be returned to investors, which could shrink the number of XRP tokens available in the market.
Additionally, Armada has been purchasing XRP at an average price of $2.54 per token since 2025. The company has acquired 84.4 million XRP tokens, which are now worth approximately $127 million, reflecting a devaluation from their original purchase price.