XRPN
Armada Acquisition Corp. II
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Evernorth Holdings ( XRPN XRPNW ) just filed the Super 8-K. [Outstanding Securities](https://www.sec.gov/Archives/edgar/data/2092592/000119312526419146/d24481d8k.htm#:~:text=the%20Ancillary%20Agreements.-,Outstanding%20Securities,-As%20of%20the) As of the Closing Date, immediately following the consummation of the Business Combination, the following securities of Pubco were issued and outstanding: • 22,268,905 shares of Pubco Class A Common Stock; • 32,211,992 shares of Pubco Class C Common Stock; and • 11,739,645 Pubco Warrants. That is a total of 54,480,897 Class A and C shares. [XRPN is now holding $657 million worth of XRP](https://www.coingecko.com/en/treasuries/xrp). That works out to $12.06 worth of XRP per share.
Armada Acquisition Corp. II ( XRPN XRPNW ) just filed an 8-K to disclose that there has been a warrant amendment. T**he warrant amendment seems to make XRPNW immediately exercisable**; if, of course, the underlying shares have been registered. Will check. "[The Warrant Amendment was entered into to conform the provisions of the Warrant Agreement](https://www.sec.gov/Archives/edgar/data/2044009/000119312526414087/d341866d8k.htm#:~:text=The%20Warrant%20Amendment%20was%20entered%20into%20to%20conform%20the%20provisions%20of%20the%20Warrant%20Agreement) to the description thereof contained in the prospectus for the Company’s initial public offering. That prospectus indicated and Section 3.2 of the Warrant Agreement now provides as a result of the Warrant Amendment that the Company’s Warrants (as defined in the Warrant Agreement) will become exercisable on the later of (i) **the date that is the first date on which the Company completes a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses** or (ii) the date that is twelve months from the date of the closing of the Public Offering (as defined in the Warrant Agreement). The exercise of any Warrant held through The Depository Trust Company remains subject to the requirement that such Warrant be properly delivered in accordance with the procedures of The Depository Trust Company."
Fuck my ass why did XRPN pump so much? Screw me for not fullporting my life savings.
Someone educate me on XRPN
With discussion of low float pops, is anyone else in CSTAF? They are waiting for effectiveness of their S4 and business closing in q4 (US Lithium is new company). **ULIT free float on day one** Public shares: at most about 46,500, and possibly fewer after vote-time redemptions. PIPE shares (\~2.4-3.5M): tradeable only once registered for resale, which usually happens weeks after close. Locked: the sponsor's \~5.84M shares and Jindalee's \~50M shares (12-month lock). Day-one tradeable common could therefore be under 50,000 shares, with \~10.3M warrants trading alongside. That is about 100x thinner than XRPN.
XRPN is [holding almost $730 million worth of XRP](https://www.coingecko.com/en/treasuries/xrp). It is hard to tell how many shares XRPN has, the business combination won't close until the 7th, so they won't file a Super 8-K for at least a week. However, [check out the table on page 12 of the prospectus](https://www.sec.gov/Archives/edgar/data/2044009/000119312526371516/d944435ddefm14a.htm), which shows total shares outstanding at the close, excluding warrants. The XRPN said the cash from [trust was about $48 million](https://www.prnewswire.com/news-releases/shareholders-approve-evernorth-business-combination-transaction-and-related-private-placements-have-raised-over-1-billion-nasdaq-trading-under-xrpn-expected-to-begin-on-october-8-302895260.html#:~:text=approximately%20%2448%20million%20of%20trust%20proceeds). The estimated redemption price was $10.52, so that would be about 4.56 million public shares left after redemptions. If that table is correct, XRPN might have 20 million total shares when it closes. That would be $37.50 per share in XRP. However, again, business combination doesn't close until the 7th. PR and SEC filing didn't say anything about redemptions or redemption reversals; if a lot of reversals occur, the XRP per share drops.
[Shareholders Approve Evernorth Business Combination; Transaction and Related Private Placements Have Raised Over $1 Billion; Nasdaq Trading Under "XRPN" Expected to Begin on October 8](https://www.prnewswire.com/news-releases/shareholders-approve-evernorth-business-combination-transaction-and-related-private-placements-have-raised-over-1-billion-nasdaq-trading-under-xrpn-expected-to-begin-on-october-8-302895260.html) \- XRPN XRPNW Ticker was changed after DA was announced, so no ticker change. No redemption information, but looks like about 4.5 million public shares. "approximately $48 million of trust proceeds"
$XRPN warrants are the play. Commons hit 17$ last nigt.
my bad! $XRPN/$XRPNW evernorth holdings XRP digital asset treasury 1 dollar warrants during SPAC phase, contract for 11.5 strike price post merger coupled with cashless exercising Shareholder vote on Sept 30th Live on Nasdaq soon after and NAV will rerate to underlying asset
$XRPN... get their warrants $XRPNW while you still can.