XRPN Stock Soars 273% Before Evernorth Merger

Shares of Armada Acquisition Corp. II (XRPN) surged an impressive 273% last week, reaching $39.42 ahead of its planned merger with Evernorth, a firm specializing in XRP treasury management. The merger, expected to close on October 7, will see the combined company begin trading as early as October 8.

Evernorth anticipates holding approximately 473 million XRP tokens, valued at around $714 million based on the current price of $1.51 per XRP. Additionally, the firm expects to bring in roughly $300 million in gross cash proceeds from the deal. About $48 million from Armada’s trust is also expected to remain for the transaction.