Armada Acquisition Corp. II – Units
XRPNU
NASDAQ Global Market10.97
USD
+0.17
- -
Armada Acquisition Corp. II – Units
XRPNU
(NASDAQ Global Market)
Recent
price
10.97
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Similar Companies
- Business
- Armada Acquisition Corp. II (XRPNU) operates as a special purpose acquisition company, or SPAC, initially formed to seek a business combination with a promising enterprise. The company completed its initial public offering on May 22, 2025, raising $230 million, with its units, composed of one Class A ordinary share and one-half of one redeemable warrant, beginning to trade on the Nasdaq Global Market. Initially, Armada Acquisition Corp. II aimed to identify targets within the financial technology (FinTech), Software-as-a-Service (SaaS), or generative artificial intelligence (AI) sectors, leveraging its management's experience, including prior SPAC success. A significant strategic evolution occurred in October 2025, when the company announced a definitive business combination agreement with Evernorth Holdings Inc. This pivotal transaction is designed to transform Armada Acquisition Corp. II into a leading institutional digital asset treasury company, with a core focus on providing investors with exposure to XRP. The ticker symbol for the units subsequently changed to XRPNU on October 30, 2025, reflecting this new direction. The merger with Evernorth is anticipated to secure over $1 billion in gross proceeds, primarily intended for open-market XRP acquisitions, offering a structured, regulated, and transparent investment vehicle. The completion of this business combination is targeted for the first quarter of 2026, subject to customary approvals.