XRPN Soars 273% as Armada Acquisition Prepares for XRP Treasury Merger

Shares in Armada Acquisition Corp. II (XRPN) skyrocketed by 273% last week to reach $39.42, a significant increase ahead of its planned merger with XRP treasury firm Evernorth. The merger is expected to close on October 7, with the combined company set to begin trading on October 8. Evernorth expects to hold approximately 473 million XRP, valued at roughly $714 million at $1.51 per XRP, along with around $300 million in gross cash proceeds. A portion of Armada's trust, approximately $48 million, is expected to remain for the deal.