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XRP News : Evernorth-Linked XRP Stock XRPN Surges 273% Ahead of Merger
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Armada Acquisition Corp. II (XRPN) shares rose about 273% last week to $39.42, ahead of its planned merger with XRP treasury firm Evernorth. Evernorth expects to hold about 473 million XRP, worth roughly $714 million at $1.51 per XRP, plus about $300 million in gross cash proceeds. About $48 million from Armada’s trust is expected to remain for the deal. Evernorth expects the merger to close Oct. 7, with the combined company expected to begin trading Oct. 8.
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