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Shares of Armada Acquisition Corp. II, a SPAC linked to XRP, continued to rise 9.5% in pre-market trading on Monday, following a 273% surge last week. This comes after the announcement of its merger with Evernorth, an XRP treasury company.
Shares of XRP-related special purpose acquisition company (SPAC) Armada Acquisition Corp. II (XRPN) rose another 9.5% in pre-market trading on Monday, following a cumulative surge of approximately 273% last week, closing at $39.42 on Friday, a significant increase from $10.58 a week prior. The company is set to merge with XRP treasury company Evernorth, which is expected to hold approximately 473 million XRP after the merger, valued at about $714 million at current prices. Evernorth anticipates the merger to be completed on Wednesday, October 7, with shares of the combined company expected to begin trading on Thursday, October 8.
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