EvernorthXRP Ties Share Issuance to XRP Price in SPAC Merger

EvernorthXRP has amended its SPAC merger terms with Armada Acquisition Corp. II to link share issuance to XRP's closing price instead of a fixed reference price.

This change aligns the share issuance more closely with XRP's market value, potentially affecting XRP's pricing dynamics.

The merger aims to list EvernorthXRP on Nasdaq under the ticker XRPN and plans to acquire at least 473 million XRP at the merger's start.