EvernorthXRP, a Ripple-backed XRP treasury firm, has amended the terms of its SPAC merger with Armada Acquisition Corp. II. Share issuance will now be tied to XRP’s closing price instead of a fixed $2.36 reference price. The firm aims to list on Nasdaq under the ticker XRPN and plans to acquire at least 473 million XRP at the merger’s inception, with previous purchases made at an average price of $2.54 per XRP. This adjustment appears designed to align share issuance more closely with the token’s current market value.
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