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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